All publications by tag «ROSNEFT»
Rosneft and BP announce the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation.
Rosneft will get 49% and the two investors -- Trafigura and UCP -- will hold the remaining 49% in equal parts, the sources said, adding that the valuation included about $4.5 B in assumed debt.
The deal was strongly appreciated by the investment community for the expansion of the Combined Company to the new crude oil and petroleum product production and supply areas, Rosneft adding 10% of liquid hydrocarbon production and 20% of refining throughput as well as for significant synergies arising from optimization of mutual oil supplies, transport and logistics costs, drilling cost reduction and joint use of production assets’ infrastructure, modern technologies and know-how.
"Why should we do it?" Sechin, known for his anti-OPEC position, told Reuters in Istanbul on Monday evening, when asked if Rosneft, which accounts for 40 percent of Russia's total crude oil output, might cap its own output.
Attracting strategic investors will give additional momentum to the development of Srednebotuobinskoye field, one of the largest oil and gas condensate fields in East Siberia, currently producing about 22 thousand barrels of oil per day. Partners within the joint project plan to create the infrastructure for further exploration and development of the reserves in the region.
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