2018-08-08 11:40:00
ROSNEFT BUYS $2 BLN
ROSNEFT- In line with strategic initiatives announced by Rosneft on April 25, 2018, the Board of Directors of Rosneft Oil Company approved the terms and launch of the open market share buyback program, which would also cover the holders of depositary receipts, in the amount of up to US$2bn (the "Program").
The Program will be launched from the date of the Board's approval and will run to December 31, 2020. The maximum amount of shares and depositary receipts to be repurchased under the Program will not exceed 340,000,000 shares, while the precise amount to be bought back will depend on the share price performance and market conditions for the duration of the Program.
In accordance with the Board of Directors decision the Company will appoint an independent agent to execute envisioned transactions in the open market on behalf of the Company. Such an agent selected from the list of leading global financial institutions will be engaged by the Company and will ensure high standards of transparency of the Program and its strict compliance with terms approved by the Board of Directors and applicable laws and regulations.
Shares of Rosneft and depositary receipts repurchased will be held in treasury of the Rosneft Group. Upon the completion of the Program, the Board of the Company will make relevant decisions with regards to the repurchased securities, including their potential full or partial cancellation.
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Earlier:
2018, July, 25, 10:10:00
ROSNEFT: OIL PRICE $75PLATTS - "Our own budget is based on a price of $63/b. Today we see that prices are around $75/b, I think that prices will be at around this level -- $75, or a maximum of $80/b," Sechin said when asked about his expectations for price levels by the end of 2018.
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2018, June, 6, 12:15:00
ROSNEFT CAN ADD 100,000PLATTS - Russia's largest crude oil producer, Rosneft, is in a position to add 100,000 b/d to production in a few days if the conditions of the OPEC/non-OPEC production cut deal are eased, analysts at Aton said in a research note released following meetings with Rosneft officials. |
2018, June, 6, 12:10:00
RUSSIA'S OIL RESILIENCEFT - “In my opinion, the stability of Russian production was underestimated by the market,” said Igor Sechin, chief executive of Rosneft, the country’s top oil producer. “In general, the Russian oil sector investments in rouble equivalent under the crisis conditions were increasing, and so did the production.” |
2018, May, 16, 11:30:00
ROSNEFT NET INCOME RUB 81 BLNROSNEFT - Financial results for 1Q 2018 - Revenue growth by 22% to RUB 1.72 trln in 1Q 2018 - EBITDA increase by 15.6% up to RUB 385 bln in 1Q 2018 - Net income jumps by more than by 7 times to RUB 81 bln - Considerable improvement in free cash flow to RUB 142 bln - Short-term financial liabilities cut by 49% |
2018, May, 7, 08:20:00
ROSNEFT - QATAR DEALREUTERS - Qatar is taking a nearly 19 percent stake in Rosneft (ROSN.MM), rescuing the Russian oil major from its stalled deal to sell a major stake to China’s CEFC. |
2018, April, 25, 09:40:00
BP - ROSNEFT STRONG PARTNERSHIPREUTERS - BP (BP.L) has a “very strong” partnership with Russian oil giant Rosneft (ROSN.MM) but will steer away from politics, Chief Executive Officer Bob Dudley said on Tuesday, as Moscow could face new western sanctions. |
2018, April, 20, 09:15:00
ENI - ROSNEFT COOPERATIONREUTERS - Italian oil major Eni has no plans to pull out of its joint venture with Russia’s Rosneft despite escalating sanctions against Russia, the head of Eni said on Wednesday. |
