Rosneft Board Approves BP Deals
A November 20 meeting of the Rosneft Board of Directors reviewed issues relating to the deals with BP. The Board of Directors: Approved Rosneft’s participation in TNK-BP Limited and TNK Industrial Holdings Limited; Approved Rosneft’s large deal to acquire a 50% stake in TNK-BP Limited and TNK Industrial Holdings Limited …
Rosneft signs definitive agreements to acquire a 50% stake in TNK-BP from BP
Rosneft today announces that it has entered into definitive agreements with BP for the purchase of BP’s 50% interest in TNK-BP in exchange for $17.1 billion in cash and 12.84% Rosneft shares currently held in treasury. The completion is subject to regulatory approvals, and is expected to occur in the …
On Rosneft BoD Meeting (November 20, 2012)
A meeting of the Rosneft board of directors was held on November 20. Rosneft’s official statement on the agenda can be found here: http://www.rosneft.ru/Investors/information/importantnotices/ Information on decisions taken by the BoD will be provided in due course. Source
Rosneft and Federal Tax Agency Signed Pricing Agreement for Taxation of Oil Sales at the Russian Market
On November 20, 2012 Rosneft and Federal Tax Agency signed the Pricing Agreement for the purpose of taxation of oil sales transactions at the Russian market. Six Company subsidiaries also acted as the Parties to the Agreement. The document establishes the principles and methods of pricing in the aforementioned transactions. …
Rosneft announces strategic advisory group
Rosneft today announced the creation of a strategic advisory group that will consolidate the financial assets of Rosneft and launch a full service financial institution. The group composed of Rair Simonyan, Elena Titova and Walid Chammah will directly advise the President of Rosneft. Igor Sechin, President and Chairman of the …
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 …