In connection with Rosneft being included in the OFAC sectoral sanctions list, the Company is willing to state as follows:
Rosneft has no influence on either political or economic processes ongoing in Ukraine. For this reason, the above-mentioned sanctions are illegitimate and groundless.
Rosneft is a public company traded on Russian and international exchanges. Therefore, the sanctions inflict damage upon the company shareholders, including US citizens and residents. The Company is currently in the process of a legal review of the announced sanctions, and is consulting its international partners.
The Company will continue to work on the existing projects and agreements. Rosneft financial position is robust. Rosneft's operating cash flows allow us to carry on with our current projects. The Company's financial position also allows us to deliver on the key indicators of our strategy and dividend policy.
Rosneft possesses sufficient liquidity to service its debts and honor its contractual obligations. In June, for example, our Company and its shareholder, British BP, signed an oil products and oil supply agreement under which the advance payment amounted to about US$2 billion.
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REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.