Killajoules

Arbitral Panel Permits Conditional Completion of BP-Rosneft Share Swap
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.

Rosneft Acquires 50% of Ruhr Oel GmbH
Rosneft announced today that it has closed its acquisition of 50% of Ruhr Oel GmbH from the Venezuelan state oil company Petróleos de Venezuela S.A. (PDVSA).

Lukoil and Rosneft Sign Agreement on Long-term Cooperation
Rosneft President Eduard Khudainatov and Lukoil President Vagit Alekperov today signed an agreement for long-term cooperation between their respective companies. Igor Sechin, Russia's Deputy Prime Minister was present during the signing ceremony.

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 the deadline. This means that the share swap agreement will now not terminate on 14 April 2011.

Production Output at the Vankor Field Reaches 20 Million Tonnes
On 6 April at 12:20 AM Moscow time, the 20-millionth tone of crude oil was extracted from the depths of the Vankor oil field in Russia’s Krasnoyarsk region.

Rosneft Obtains License to Explore the Naulskoye Field in the Nenets Autonomous District
Rosneft acquired a license to explore the Naulsk oil field, located in the Nenets Autonomous District. The Company paid RUB 3.6 billion for the license at auction.

BP Remains Committed to Partner with Russia
BP announced today that an arbitral tribunal has ruled that the interim injunction issued to prevent BP’s proposed transaction with Rosneft, which includes Arctic exploration and a share swap transaction, from proceeding should continue.

Official Statement by OJSC Rosneft on the BP Partnership
In January 2011, OJSC Rosneft Oil Company and BP signed agreements regarding strategic cooperation and an exchange of shares between the two companies. In February, in response to a demand by ARR referring to the shareholders’ agreement between BP and TNK, the High Court of Justice in London issued an injunction halting completion of these deals.

Rosneft fully replaced its oil reserves in 2010
Rosneft announced today the results of the annual independent audit of its hydrocarbon reserves performed by DeGolyer & MacNaughton.

Rosneft discovers two new fields in East Siberia
Rosneft geologists have discovered two new oil & gas fields at the Sanarsky and Preobrazhensky license areas in East Siberia. Both areas are located in Katangsky District of Irkutsk Region, and were acquired by Rosneft at auctions in 2006 and 2007.