ROSNEFT SOLD VANKOR
According to ROSNEFT, 17 June, 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. The document was signed in the presence of the Minister of Energy of Russia Alexander Novak and the Minister of petroleum and natural gas of India Dharmendra Pradhan by Rosneft Chief Executive Officer Igor Sechin, Oil India Limited Director Biswajit Roy, Indian Oil Corporation Chairman B Ashok, and Bharat PetroResources Managing Director D Rajkumar.
The closing of the transaction will be performed upon obtaining the necessary regulatory and additional approvals.
After the closing of the transaction consortium representatives will enter the Board of Directors of Vankorneft. Rosneft will hold the majority in the project, retain the control over the operations of the named company and over 100% of the cluster's infrastructure (including the Vankor-Purpe pipeline), which was spin-off in the RN-Vankor LLC.
The implementation of the signed agreements together with the earlier closed transaction for the purchase of a 15% share in Vankorneft by ONGC Videsh Limited subsidiary will allow creating a unique consortium on the basis of the Vankor project.
The creation of an international energy hub will significantly amplify the production potential of the Vankor cluster. The potential organization of joint trade operations will allow solidifying positions of Russian energy resources in a highly competitive environment of the Asia Pacific region and will have a positive effect on the stabilization of the market.
Commenting on the signed documents Igor Sechin said: "Today we signed agreements aimed at the creation of an unprecedented Russian-Indian corporate entity. It is worth noting that the signed complex documents were structured within a very tight schedule, which demonstrates the commitment of the parties. The vertically integrated model to be created based on a leading upstream asset in Russia marks a new page in the energy dialogue between Russia and India".
|January, 21, 11:55:00|
|January, 21, 11:50:00|
|January, 21, 11:45:00|
|January, 21, 11:40:00|
|January, 21, 11:35:00|
|January, 21, 11:30:00|
The 3rd Latin America Energy Forum will address the needs of Latin America's evolving energy sector, exploring the evolution of the region’s energy mix and the role of gas in supporting the increased use of nonconventional renewables.
U.S. EIA - EIA expects non-hydroelectric renewable energy resources such as solar and wind will be the fastest growing source of U.S. electricity generation for at least the next two years.
ENA - Mohammed Saif Al Suwaidi, Director-General of ADFD, said, "The Abu Dhabi Fund for Development believes in the vital role the renewable energy sector plays in attaining the sustainable development goals in developing countries. This important sector stimulates economic growth, creates employment opportunities, drives innovation, supports the advancement of other key sectors, and optimises the use of natural resources – all crucial factors in improving people’s lives."
WNN - Russia and Serbia have signed an intergovernmental agreement on cooperation in nuclear energy and a joint statement on strategic partnership for the construction of a centre of nuclear science, technology and innovation.