Rosneft Held Regular Meeting of Shareholders
On June 20, a regular Annual General Meeting of Rosneft shareholders took place in Saint-Petersburg. Holders of 97.19% of the Company’s shares took part in the meeting. The Annual Report, the accounting statements and 2011 Rosneft net profit distribution were approved of by the Meeting. It was decided to distribute …
Rosneft and ExxonMobil signed agreements expanding Western Siberia tight oil development and sealing ExxonMobil’s entry into the Arctic Research and Design Center for Offshore Development
Rosneft and ExxonMobil signed agreements for the joint development of several tight oil fields in Western Siberia and for ExxonMobil’s entry into the Arctic Research and Design Center for Offshore Development. The signing marks a further step in the implementation of the long-term Strategic Cooperation Agreement signed between the two companies …
Dmitry Avdeev Appointed Vice President at Rosneft
Dmitry Avdeev has been appointed Vice President for finance and economics at Rosneft. Mr. Avdeev has spent 17 years working with issues related to the Russian oil and gas industry. In 1995-1998, he served as deputy head of the project finance department at oil company Sidanco, before moving to work …
Rosneft Announces Results of Share Buyback
On May 30, 2012 Rosneft’s Board of Directors announced the preliminary results of the Company’s share buyback. Rosneft shareholders were entitled to request a share buyback in accordance with regulations set down in the federal law On Joint Stock Companies following the approval of major transactions at an extraordinary shareholders’ …
Rosneft: The Model for Drilling Success
K.V.Kudashov, R.A. Malakhov, Rosneft Oil Company Introduction In 2010, Rosneft was the fourth largest oil producer in the world, and the largest producer in Russia (Fig. 1). It is impossible to increase and maintain this position and continue to produce high production levels without increasing the volume of wells drilled …
Igor Sechin Appointed President of Rosneft
Rosneft’s Board of Directors has voted unanimously to appoint Igor Sechin President of the Company. A corresponding directive has been signed by Russian Prime Minister Dmitry Medvedev. Mr. Sechin thanked Eduard Khudainatov for his work as President of the Company and announced Mr. Khudainatov’s appointment as First Vice President and …
Rosneft and Statoil Agree on Joint Offshore Operations in the Barents Sea and Sea of Okhotsk
Rosneft and Statoil signed a cooperation agreement to jointly explore offshore fields in the Russian sections of the Barents Sea and Sea of Okhotsk. The agreement also covers Rosneft’s participation in the exploration of license blocks in the Norwegian part of the Barents Sea, as well as the possible acquisition …
Rosneft Net Profit Up 55.6% in Q1 2012
Q1 2012 sales revenue was RUB 748 billion, matching the level in Q4 2011. This represents a 27% increase on Q1 2011. Revenue was up thanks to higher oil and petroleum product prices and increased oil production and refining volumes. Financial and Operating Highlights: Net profit grew 55.6% on Q4 …
Rosneft Board Recommends Increasing Dividends 25% to 3.45 Rubles per Share
Rosneft’s Board of Directors convened a regular meeting on April 27, 2012 to consider issues relating to the Annual General Shareholders’ Meeting. The Board approved the following agenda for the shareholders’ meeting: Approval of the Company’s annual report Approval of the Company’s financial (accounting) statements, including profit and loss reports …
Rosneft and Eni Join Forces to Explore Fields in the Barents and Black Seas
Rosneft and Eni today signed a Strategic Cooperation Agreement to jointly explore fields in Russian sections of the Black and Barents Seas and exchange technology and staff. The agreement also envisages Rosneft’s participation in Eni’s international projects. Agreement in principle reached on joint exploration of Barents and Black Sea blocks …