Statement by OJSC Rosneft Oil Company
On January 14, 2011 OAO Rosneft and BP signed an agreement on a joint venture for the development of the Russian Arctic shelf based on licensed areas, “East Prinovozemelsky 1-2-3, sharing a 9.5% stake in Rosneft for 5.0% of the shares of BP and the formation of a global strategic …
Arbitral Panel Permits Conditional Completion of BP-Rosneft Share Swap-Subject to Rosnefts Consent and Assignment of Arctic Opportunity to TNK-BP
The arbitral panel has today issued a consent order permitting BP and the Alfa-Access-Renova (AAR) consortium to assign the Arctic opportunity to TNK-BP, subject to Rosneft consent. The order also permits the proposed share swap between BP and Rosneft to proceed subject to Rosneft having consented to assign the Arctic …
BP Welcomes Rosneft as New Partner in German Refining Joint Venture
BP today welcomed Rosneft as its new partner in its German refining joint venture, Ruhr Oel GmbH (ROG). This follows the completion of the deal announced last October in which BP’s existing partner, PdVSA of Venezuela, agreed to sell its 50 per cent interest in the joint venture to Rosneft. …
Rosneft Posts 50% Growth of EBITDA and Generates USD 3.3 bln of Free Cash Flow
In Q1 2011, Rosneft’s revenues increased by 36.3% year-on-year, to USD 20,123 mln. The increase was due to higher crude oil and petroleum product prices as well as due to the growth in sales volumes by 4.9%. Rosneft’s EBITDA amounted to USD 6,653 mln in Q1 2011, which is 1.5 …
Lukoil and Rosneft Sign a Deal on Long-term Cooperation
President of Rosneft Eduard Khudaynatov and Head of Lukoil Vagit Alekperov signed an agreement on long-term cooperation between their companies. Deputy Prime Minister Igor Sechin was present during the signing ceremony. Capitalizing on the successfully developing cooperation between the two companies and striving for improved profitability of existing projects, Rosneft …
Rosneft accepts BP’s proposal to extend the deadline for the deal
BP has asked Rosneft to extend the deadline for the share swap agreement, pending the final decision of the Arbitration Institute of the Stockholm Chamber of Commerce, and in order to implement the share swap transaction between Rosneft and BP. Without waiving any of its rights, the Russian oil company …
Rosneft Board of Directors recommends a 20% dividend increase, to RUB 2.76 per share
The Board of Directors of Rosneft convened in regular session to discuss issues relating to the Annual General Meeting of Company shareholders (on the results of 2010). The Board approved the following agenda topics: Approval of the annual report; Approval of annual financial statements, including profit and loss statements (profit …
BP and Rosneft Extend Share Swap Deadline
BP announced today that it has agreed with Rosneft to extend the deadline for completing the share swap agreement (previously announced on 14 January) to 16 May 2011. The agreement between the two companies followed the 8 April decision of the arbitral tribunal to allow them to discuss extension of …
Vladimir Milovidov Appointed Vice-President at Rosneft
Vladimir Milovidov, formerly head of Russia’s Federal Financial Markets Service (FFMS), has been appointed Vice-President at Rosneft. Mr. Milovidov will be responsible for innovation development and the introduction of new technologies in business processes. He will oversee the Department of Scientific and Technological Development and Innovation, which replaces the defunct …
Regular Meeting of the Rosneft Board of Directors
The Board of Directors of Rosneft convened. In attendance were: Igor Sechin – Deputy Prime Minister of the Russian Federation, Chairman of the Board of Directors of Rosneft; Yuri Petrov – Head of the Federal Agency for State Property Management; Nikolai Tokarev – President of Transneft; Andrei Reus – Director-General …