All publications by tag «ROSNEFT»
The closed transaction is a symbolic one for the companies and marks the transition to a new level of cooperation in the Russian-Indian relations in the energy area. Indian companies obtain substantial interest in one of the biggest large-scale projects of Rosneft of the last decade, whereas Rosneft retains 61.1% shares in the project.
Rosneft and Pertamina signed an Agreement envisaging the creation of a Joint Venture (JV) with the scope of implementing the project for the construction of the Tuban refining and petrochemical complex to be located in the eastern part of Java (Indonesia).
The deal, worth about $2.02 billion, was approved by the cabinet Wednesday, said an official, who didn’t wish to be named. The cabinet also approved another deal worth $1.24 billion reached by the three companies earlier this year to acquire a 29.9% stake in Russia’s Taas-Yuryakh oil field.
The agreements were signed at the Eastern Economic Forum (EEF) in Vladivostok, Russia by Rosneft CEO Igor Sechin, the president of BP Russia David Campbell and Schlumberger’s regional president Gokhan Saygi.
Net income growth by x6.4 times to RUB 89 bln in 2Q 2016 Increase in EBITDA by 27.5%, to RUB 348 bln; EBITDA margin above 27% Effective control of operating and SG&A costs Industry leadership in free cash flow generation Decrease in net debt by 41.4%, to USD 23.4 bln from 1H 2015
Crisis in the global energy industry provides a unique opportunity to expand Rosneft and PDVSA cooperation, which may have a substantial effect on the global oil markets balancing.
Rosneft Finance S.A. (Rosneft subsidiary) has paid off series 2 eurobonds amounting to $1 bln of total nominal value. Those eurobonds were issued by the former TNK-BP Group in 2006, maturing 10 years later, with the coupon rate of 7.5% p.a.
The agreement provides for the entry of ChemChina into the FEPCO equity capital with a stake of 40% and for the proportional financing. The parties intend to conduct joint analysis aimed at the specification of niche markets for FEPCO products based on the capabilities of the partner that enjoys a robust position in the Asia-Pacific markets.
"We are glad that we've managed to maintain our positions on traditional markets, primarily in Europe," Sechin said pointing out to recent agreements with PKN Orlen to increase deliveries to Poland and the Czech Republic.
Rosneft and Consortium of Indian Companies led by Oil India Limited along with Indian Oil Corporation Ltd. and Bharat PetroResources have signed the agreement of sale and purchase of 23.9% in Vankorneft and the shareholders agreement at the XX St. Petersburg International Economic Forum.