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 …
Rosneft and ExxonMobil Announce Progress in Strategic Cooperation Agreement
Rosneft and ExxonMobil today signed agreements to implement a long-term Strategic Cooperation Agreement concluded in August 2011 to jointly explore for and develop oil and natural gas in Russia and to share technology and expertise. Joint ventures being created to explore in Russian Black Sea and Kara Sea; initial planning …
Field Development Plan Being Specified at Block 245 South in Algeria
Rosneft-Stroytransgaz Limited (RN-STG), controlled by Rosneft and Stroytransgaz, is working jointly with Sonatrach, Algeria’s national oil company, to begin reservoir delineation at three earlier discovered deposits within Block 245 South in Algeria. The three deposits are East Takuazet, West Takuazet and North Tisselit. The aim of reservoir delineation is to …
Ministry of Economic Development Approves Rosneft’s APG Utilisation Investment Projects
The Ministry of Economic Development of the Russian Federation has passed an order approving two of Rosneft’s APG joint implementation investment projects. The order, No. 112 of 12 March 2012, approves a project to reduce APG flaring and generate electricity at the Khasyreiskoye deposit and a project to utilise APG …
Rosneft Concludes Public Hearings on Seismic Study Programme at Three Blocks in the Western Arctic
Rosneft has concluded a series of public hearings on its 2012 seismic study programme for the East Prinovozemelsky 1 and 2 blocks in the Kara Sea and the Youzhno Russky block in the Pechora Sea. Public hearings began in early February in Arkhangelsk and in the village of Yar-Sale in …
Rosneft VP, Pavel Fedorov, Appointed Deputy Minister in the Ministry of Energy
In connection with Rosneft First Vice President Pavel Fedorov’s move to work as Deputy Minister in the Ministry of Energy of the Russian Federation, his responsibilities have been reassigned to members of the Rosneft management board. Pavel Fedorov had worked at the Company since April 2010. He oversaw the financial …