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2016-10-14 18:45:00

ROSNEFT WILL BUY INDIA

ROSNEFT WILL BUY INDIA

REUTERS wrote, Russian oil major Rosneft , along with European trader Trafigura and Russian fund UCP, will acquire 98% in India's Essar Oil for about $12 B - $13 B including debt, two sources familiar with the deal told.

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.

Essar Oil operates a 400 Mbpd oil refinery on India's west coast and sells fuels through its 2,470 filling stations in India.

The company is part of a steel-to-ports conglomerate controlled by the billionaire Ruia brothers that has faced pressure from creditors to reduce borrowing that some analysts estimate at more than $14 B.

One source said the deal will be funded by Russia's VTB Capital, part of state-controlled bank VTB.

The Indian firm is expected to announce the deal on Saturday in the coastal resort of Goa during a visit by President Vladimir Putin, who will meet Indian Prime Minister Narendra Modi for a bilateral summit.

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Earlier:

ROSNEFT: 

ROSNEFT BOUGHT BASHNEFT 

ANTI-OPEC POSITION 

ROSNEFT'S STRATEGIC INVESTMENT 

ROSNEFT SOLD $2 BLN 

ROSNEFT & PERTAMINA AGREEMENT

 

ESSAR: 

RUSSIA OPENS INDIA 

INDIA & RUSSIA DEAL 

ПОСТАВКИ РОСНЕФТИ ДЛЯ ESSAR 

РОСНЕФТЬ И ESSAR ДОГОВОРИЛИСЬ

 

Tags: ROSNEFT, RUSSIA, INDIA, ESSAR, TRAFIGURA, UCP

Chronicle:

ROSNEFT WILL BUY INDIA
2017, December, 15, 12:50:00

LUKOIL'S PLAN: $50

LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.

ROSNEFT WILL BUY INDIA
2017, December, 15, 12:45:00

BP INVESTS TO SOLAR

BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.

ROSNEFT WILL BUY INDIA
2017, December, 13, 12:40:00

OIL PRICE: ABOVE $64 YET

REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.

ROSNEFT WILL BUY INDIA
2017, December, 13, 12:35:00

RUSSIAN-TURKISH NUCLEAR

ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.

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