Rosneft CEO reveals real meaning of oil price war, outlines Russia’s role in it
Oct22

Rosneft CEO reveals real meaning of oil price war, outlines Russia’s role in it

Russia will not be a background actor in competition on the global oil market, head of Russian state-owned oil company Rosneft Igor Sechin said in an interview with Corriere Della Sera newspaper. “What is the meaning of the current price war? I think, first of all, it’s a competition for shares on the market and Russia is not going in this case to be a background actor,” he said. The head of Rosneft said he is also...

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Russia not to restrict Rosneft participation in Bashneft’s privatization
Oct01

Russia not to restrict Rosneft participation in Bashneft’s privatization

The Russian government will not restrict participation of state-owned oil company Rosneft in privatization of the stake of Bashneft, First Deputy Prime Minister Igor Shuvalov said during the Sochi-2016 forum “Rosneft won’t be limited from bidding,” Shuvalov said, adding that decree on start of privatization of Bashneft may be signed today. “We will decide in the coming days, perhaps even today a government decree...

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Rosneft receives $15.6 mln for its first ever LNG supply to Egypt
Aug16

Rosneft receives $15.6 mln for its first ever LNG supply to Egypt

Russian state-owned oil company Rosneft has received 1 bln rubles ($15.6 mln) for its first ever supply of liquefied natural gas (LNG) to Egypt under the contract with Egyptian Natural Gas, the company said in a report. “In May 2016, the company delivered its first lot of LNG under the contract with the Egyptian Natural Gas Holding Company signed in August 2015. The lot’s volume was 0.06 mln tonnes (worth 1 bln rubles...

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Rosneft redeems $1 bln Eurobonds
Jul28

Rosneft redeems $1 bln Eurobonds

Rosneft Finance S.A. (a subsidiary of Russian state-owned oil company Rosneft) has redeemed second series Eurobonds worth $1 bln, the company said in a statement. The Eurobonds were issued by the former TNK-BP group in 2006, with a maturity term of 10 years and the coupon rate of 7.5% per annum. “Maximization of profit at the operating level and the effective management of the working capital allow Rosneft to generate a stable...

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After selling 49% to Rosneft, Ruias to offload another 25% stake in Essar Oil
Jun30

After selling 49% to Rosneft, Ruias to offload another 25% stake in Essar Oil

After stitching a deal to sell 49 percent stake in Essar Oil to Russia’s Rosneft, the Ruia family is looking at selling another 25 percent stake in the company to an oil trader or a strategic investor like Saudi Aramco. The sale of 74 percent stake (49 percent to Rosneft and 25 percent some other investor) will help bring down Group debt by half to about Rs 46,000 crore from current Rs 88,000 crore, sources said. The promoters...

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