Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years.
Rosneft and BP have today signed final binding agreements to create a new joint venture, Yermak Neftegaz, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation.
Crude is stabilizing around $50 a barrel and may only average $55 next year as the global oversupply continues to cap prices, according to two of the world’s top oil executives.
Russian oil producer Rosneft said profit slumped in the first quarter as crude prices hit its bottom line
Venezuela’s opposition-controlled National Assembly is questioning the legality of a $500 million deal Rosneft OJSC made with the state oil company to increase its stake in a local oil venture.
Rosneft, the Russian oil producer, has increased its net profit by 2% to $5.2billion (355billion roubles).
Russia’s Rosneft OJSC signed agreements with Indian state-run energy companies to sell stakes in its oil assets in Siberia, as the two countries seek to deepen energy cooperation.
Rosneft has commenced exploratory drilling of a block offshore Vietnam.
Rosneft has increased its stake in Venezuela's Petromongas heavy oil joint venture with a $500million investment.
Rosneft has obtained approval to dissolve the Ruhr Oel GmbH Joint Venture from the German Federal Ministry of the Economy and Energy.
The head of Russian state-run oil company Rosneft on Wednesday floated the idea of a coordinated output cut by major oil-producing countries to prop up sagging prices but fell short of saying whether Moscow would contribute to such a plan. Rosneft Chief Executive Igor Sechin, in a speech at the IP Week conference in London, attributed oversupply in the market to overproduction by members of the Organization of the Petroleum Exporting Countries.
Statoil and Rosneft have commenced well testing at the North-Komsomolskoye field onshore Russia.
Deputy Prime Minister Arkady Dvorkovich does not rule out that Russia's oil production may decline if oil prices keep low on the global market.
Rosneft has agreed to extend its contract for oil supplies to Lotos in Poland.
Rosneft and BP have dissolved their existing refining joint venture at Ruhr Oel in Germany.
Rosneft has signed an MOU (Memorandum of Understanding) with Oil India and Indian Oil Corp.
Rosneft has completed a seismic first as part of its geological exploration programme.
Russian oil output in November hovered near a post-Soviet record set the previous month, shrugging off a crude-price slump before OPEC gathers for its biannual meeting in Vienna.
Lukoil, Russia’s second largest oil producer, said third-quarter profit dropped 62% after crude prices fell amid the global supply glut.
Rosneft recorded a third quarter profit boost despite a fall in oil price.
Russia's Rosneft, the world's top listed oil producer by output, has offered Japanese companies a chance to join projects in Russia's East Siberia and Far East, Chief Executive Igor Sechin said on Friday. There is a huge potential for cooperation between the two countries, he said, in offering Japanese firms the opportunity to participate in the Verkhnechonskoye, Srednebotuobinskoye, Tagulskoye and Russkoye projects, as well as in other developments already in operation or yet to be launched. "We proposed to our Japanese partners deals with total reserves of six billion barrels and with a resource base of 100 billion barrels," Sechin told an industry symposium in Tokyo.
Russia's Rosneft and US partner ExxonMobil has won three blocks in the fifth license round in Mozambique.
Rosneft has signed an agreement of cooperation with the Ministry of Foreign Affairs of the Russian Federation. The document was signed by the company’s chairman of the management board Igor Sechin and the Minister of foreign affairs from Russia, Sergey Lavrov.
Rosneft has closed a $55million deal to acquire PetroRio’s 55% in the Solimões project in Brazil.
Oil exploration in the Kara Sea in the Arctic is unlikely to restart before 2020, according to reports. The news comes following a Russian Energy Ministry presentation this week. Last year Rosneft was forced to suspend drilling in the region after its partner ExxonMobil withdrew from the project because of Western sanctions over the Ukraine crisis.