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Rosneft and BP Complete TNK-BP Sale and Purchase Transaction

  • Rosneft and BP today completed a number of transactions, in line with the terms announced in October 2012. As a result of the transactions:
  • BP receives net $12.48 billion in cash, including a TNK-BP dividend of $0.71 billion, and 18.5 per cent Rosneft shares;
  • Rosneft becomes holder of BP’s 50 per cent interest in TNK-BP in exchange for $16.65 billion in cash and 12.84 per cent of Rosneft shares;
  • OFSC ROSNEFTEGAZ sells 5.66 per cent in Rosneft to BP in return for $4.87 billion in cash;
date.png22 Mar 2013 12:59 | comments.png 0 Comments | tags.png bp deals rosneft russia tnk-bp top [ More ]

Rosneft Achinsk Refinery Upgraded to Produce Cleaner Euro 5 Standard Fuel
From 1 February, Rosneft’s Achinsk refinery has switched to producing cleaner light duty Regular 92 vehicle fuel compliant with the Euro 5 standard. The first shipments of the Euro 5 fuel have been delivered to Rosneft retail outlets and wholesale buyers.

date.png03 Feb 2013 21:40 | comments.png 0 Comments | tags.png c-asia refinery rosneft russia [ More ]

Rosneft Signs Long-Term Supply Deals via Druzhba Pipeline
On February 1, 2013 Rosneft President and Chairman of the Management Board Igor Sechin visited Hamburg to sign a contract for supply of crude oil via the Druzhba pipeline to Poland, where the crude will be purchased by PKN Orlen, owner of the Plotsk refinery. The amount of the contract equals to ca. 15 billion USD at current prices. The contract envisages a supply volume of some 6 mln tonnes per year (totalling approximately 18 mln tonnes for the whole contract period). Delivery term for the contract is until January 31, 2016.

date.png03 Feb 2013 21:22 | comments.png 0 Comments | tags.png pipeline pkn-orlen poland rosneft [ More ]

Angarsk Petrochemical Company launches Gasoline Blending Unit
Angarsk Petrochemical Company has commissioned a gasoline blending unit with an annual output capacity of 2.3 million tonnes. The commissioning is an important step in the delivery of a large-scale investment program Rosneft is implementing at the plant. The program aims to ensure that all of the plant’s output meets Euro-4 and Euro-5 standards.

date.png27 Dec 2012 13:57 | comments.png 0 Comments | tags.png c-asia refinery rosneft russia [ More ]

Rosneft Signs Agreement to Purchase AAR Consortium’s 50% Stake in TNK-BP
Rosneft today signed in Munich at 7:45 AM local time an agreement to purchase from the AAR Consortium (Alfa Group, Access Industries and Renova) its 50% stake in TNK-BP. The purchase price in the transaction is determined based on the base value of AAR’s stake in TNK-BP of $28 bln. Completion of the transaction is subject to approvals from Russian and European antimonopoly bodies and is expected to occur in the first half of 2013.

date.png12 Dec 2012 14:33 | comments.png 0 Comments | tags.png c-asia deals rosneft russia tnk-bp upstream [ More ]

BP Agrees Heads of Terms to Sell its TNK-BP Shareholding to Rosneft
BP today announced that it has signed heads of terms to sell its 50 per cent share in TNK-BP to Rosneft, the major Russian integrated oil and gas company. Under the heads of terms Rosneft has agreed in principle to buy BP’s share in TNK-BP.

date.png26 Oct 2012 08:09 | comments.png 0 Comments | tags.png bp c-asia deals rosneft russia tnk-bp [ More ]

Rosneft President Igor Sechin Takes Part in First Oil Ceremony at Junin-6 Block in Venezuela
Igor Sechin, President and Chairman of the Management Board at Rosneft, took part in a ceremony celebrating first oil produced at the Junin-6 block as part of his visit to Venezuela. The block is currently under development by Venezuela’s PDVSA and Russia’s National Oil Consortium, which comprises Rosneft, Gazprom Neft, Lukoil, TNK-BP and Surgutneftegaz.

date.png29 Sep 2012 07:56 | comments.png 0 Comments | tags.png rosneft s-america upstream venezuela [ More ]

Oil Production Starts at the Junin-6 Block in Venezuela
The first oil production has started at the Junin-6 block in the Orinoco River basin in Venezuela. The giant Junin-6 oil field, which has geological reserves of over 50 billion barrels of oil, will be developed on a parity basis by a consortium of five major Russian oil companies: Gazprom Neft, LUKOIL, Rosneft, Surgutneftegaz and TNK-BP through OOO National Oil Consortium (NOC).

date.png28 Sep 2012 19:30 | comments.png 0 Comments | tags.png gazprom-neft lukoil rosneft s-america surgutneftegaz tnk-bp upstream venezuela [ More ]

Rosneft and Gazprom Join Forces to Explore and Develop Offshore Fields
Rosneft and Gazprom have signed a cooperation agreement to create and jointly operate offshore field development infrastructure. The agreement was signed by Igor Sechin, President and Chairman of the Management Board at Rosneft, and Alexei Miller, Chairman of the Management Board at Gazprom, in the presence of Russian Prime Minister Dmitry Medvedev at the XI Sochi International Investment Forum.

date.png22 Sep 2012 19:17 | comments.png 0 Comments | tags.png a c-asia gazprom rosneft russ upstream [ More ]

Rosneft President Igor Sechin Meets Saras S.p.A. Chaiman and CEO
President of Rosneft Igor Sechin and Chairman of the Board of Saras S.p.A. Gian Marco Moratti and CEO of Saras S.p.A. Massimo Moratti met in Rome to discuss possible co-operation between the two companies including but not limited to crude supply to the Sarroch refinery in Sardinia. The parties agreed to form a working group that will review joint commercial opportunities.

date.png18 Sep 2012 08:17 | comments.png 0 Comments | tags.png europe italy refinery rosneft saras [ More ]
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