Rosneft and INTER RAO UES Conclude 25-Year Gas Supply Contract
Rosneft and INTER RAO UES have concluded a contract on the supply of up to 875 billion cubic metres of gas. The contract envisages annual supplies of up to 35 bcm of Rosneft-produced gas to the power plants of INTER RAO – Electric Power Plants (or any other INTER RAO …
Rosneft Posts Record Quarterly Net Profit Of 181 Billion Rubles, 4.1% Higher Daily Hydrocarbon Production And Finalises JV With Itera
Hydrocarbon production (including production by subsidiaries and share in production by affiliated companies) increased 3.4% over the first nine months of 2012 compared to the same period last year to 2,662 th. boepd. Daily crude oil production grew 2.1% in line with the revised plan to boost production 2% in …
Rosneft and General Electric Sign Long-Term Power Service Contract
Rosneft and General Electric (GE) have signed a contract to service five 6FA packaged gas turbine units. These units are to be supplied by GE under an agreement signed in June for the thermal power plant at the Eastern Petrochemical Company, which is currently under construction by Rosneft. Igor Sechin, …
Rosneft Completes Construction of Social Facilities in Neftekumsk, Stavropol Region
Rosneft President and Chairman of the Management Board Igor Sechin took part in a ceremony celebrating the commissioning of a number of social facilities in Neftekumsk in the Stavropol region. Construction work is now complete on a regional health centre and block of apartments, while secondary school No. 3 has …
Sechin Sees $3-$5 billion Synergies in Rosneft Takeover of TNK-BP
Rosneft’s CEO Igor Sechin said its planned $55 billion takeover of rival oil company TNK-BP would yield $3-$5 billion in synergies, largely on projects in new provinces in Russia’s north and east. Sechin, speaking on a conference call a day after Rosneft announced it would buy British major BP and …
Rosneft Agrees Heads of Terms with the AAR Consortium
Rosneft confirms that BP, in connection with the sale of its interest in TNK-BP to Rosneft, has waived its right to negotiate in good faith to purchase the AAR consortium’s stake in TNK-BP. This is a step forward in the implementation of the heads of terms, announced earlier today, between …
Rosneft agrees to acquire a 50% stake in TNK-BP from BP
Rosneft today announces that it has entered into an agreement in principle with BP to acquire its 50% interest in TNK-BP in exchange for $17.1 billion in cash and 12.84% Rosneft shares currently held in treasury. In connection with the proposed transaction, BP has offered to purchase from Rosneft’s parent, …
Rosneft In Bid for BP’s Stake in TNK-BP
Rosneft is poised to secure a tighter grip on Russia‘s oil industry with a bid for BP’s 50 percent stake in TNK-BP, the country’s third largest producing company. Sources familiar with the actions of British oil company BP, Rosneft, their advisers and financiers said a bid had been submitted to …
Zeljko Runje Appointed Vice President for Offshore Projects at Rosneft
Zeljko Runje has been appointed to the newly created position of Vice President for Offshore Projects at Rosneft. He has extensive experience in this field. Developing offshore projects is one of Rosneft’s strategic priorities. In the medium term it will contribute significantly to resource base replacement, while in the long …
AAR in Non-binding Agreement to Sell TNK-BP Stake to Rosneft for $28bn USD
The Russian-based businessmen whose joint venture with BP has been plagued by years of in-fighting have agreed an outline deal to sell their stake to the state-owned oil giant Rosneft for about $28bn (£17.3bn), reported Mark Kleinman, City Editor, Sky News. AAR, a consortium of four oligarchs (Len Blavatnik, Mikhail …