Igor Sechin News

11 Sep 2018

Rosneft Orders Two Oil Tankers from Zvezda Shipyard

A previously delivered vessel of the same class of Green Funnel tankers (Courtesy SCF Group)

Russian oil company Rosneft announced it has ordered two Aframax crude oil tankers to be built at Russia's far eastern Zvezda shipyard for scheduled delivery in 2022.The Russian-flagged vessels will have a deadweight of 114,000 metric tons and a 1A/1B ice class, which makes them able to operate in icy conditions year round, including in sub-Arctic seas and Russian ports of the Baltic region, said Russian shipping company PAO Sovcomflot (SCF Group).According to the documents, Arctic Leasing will place orders for construction of the two Aframax tankers at the shipyard…

28 May 2018

Rosneft and GNPC Arrange LNG Supply to Ghana

Poto: Rosneft

Rosneft and the Ghana National Petroleum Corporation (GNPC) signed the package of documents assuming the delivery to the port of Tema (Ghana) over 12 years of the liquefied natural gas (LNG) in the volume of ca. 1.7 mmtpa (or 250 mln standard cubic feet per day), its regasification using the processing capacities of Tema terminal in order to subsequently supply the natural gas to GNPC. The obligations of the parties arising from the above documents will come into effect once they are approved by the Boards of Directors of the parties.

01 Mar 2018

Exxon Quits Some Rosneft Joint Ventures Citing Sanctions

Exxon's exit from projects will not affect the Sakhalin project off the eastern coast of Russia, Exxon and Rosneft spokesmen said. (Photo: Rosneft)

Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon, which had opposed the sanctions over Russia's invasion of Crimea and argued they unfairly penalized U.S. companies while allowing foreign energy rivals to operate in the country, the world's largest oil producer. Yet the sanctions…

17 Dec 2017

Rosneft, PDVSA Sign New Oil and Gas Agreements

Photo: PDVSA

President of the Republic, Nicolás Maduro, held a meeting with CEO of Rosneft, Igor Sechin, to bolster the joint work between Venezuela and Russia and sign new agreements on gas exploration and exploitation. People’s Minister of Petroleum and President of Petróleos de Venezuela, S.A., Manuel Quevedo, along with PDVSA Executive Vice President and Vice President of Trade and Supply, Ysmel Serrano; People’s Minister of Finance, Simón Zerpa; Sectoral Vice President of Economy, Wilmer Castro Soteldo, and a high level delegation of Rosneft also participated in the meeting.

02 Nov 2017

Rosneft, NIOC Ink Cooperation Deal

Image:  Rosneft

Russian oil producer Rosneft and the National Iranian Oil Company (NIOC) have agreed an outline deal to work together on a number of “strategic” projects in Iran together worth up to $30 billion, Reuters reported quoting Rosneft’s head Igor Sechin as saying. The potential collaboration with Iran would further strengthen Rosneft’s position in the Middle East, the company having already secured a number of deals in the region, including the acquisition of a majority stake in Iraqi Kurdistan’s main oil pipeline.

21 Jun 2017

Rosneft to Return to State Dividend Proposal

Igor Sechin, the head of Russian oil major Rosneft, said on Wednesday that his company would return to a government proposal for state-owned companies to pay out 50 percent of their profit in dividends for Rosneft's 2017 results. (Reporting by Denis Dyomkin; Writing by Jack Stubbs)

04 Jun 2017

Rosneft, Hyundai Samho Strengthen Technological Cooperation

Pic: Rosneft

Rosneft and Hyundai Samho Heavy Industries Co. Ltd. (HSHI) signed an agreement under which the South Korean company will provide technical support in the design and construction of Aframax class vessels at the Zvezda shipyard in Bolshoy Kamen. The agreement is a legally binding document. The document was signed as a part of the development of the agreement, under which a joint venture "Zvezda-Hyundai" was established  in May 2017 between Shipbuilding Complex Zvezda and HSHI in the field of engineering and project management.

21 Jun 2016

Rosneft, Pietro Barbaro JV Enters Global Shipping Markets

Photo: Pietro Barbaro

Russia's Rosneft and Italy's shipping company Pietro Barbaro have agreed to jointly develop international sea freight operations, as the oil group has been aiming to expand its shipping business. Rosneft (represented by RN-International projects) and Pietro Barbaro S.p.A. have signed an agreement to establish a Joint Venture (JV) for international sea freight at the ĐĄĐĄ St. Petersburg International Economic Forum. The document was signed by Rosneft Chief Executive Officer Igor Sechin and Pietro Barbaro Group owner Giovanni Barbaro.

17 Jun 2016

Fincantieri, Rosneft Partner for a New Ship

During the 20th St. Petersburg International Economic Forum, Fincantieri and Rosneft signed a Heads of Agreement for the formation of a joint venture focused on design and engineering of a new type of vessel to be built at the Zvezda shipbuilding complex. The parties will also explore the possible development of those professional competences required to support the shipbuilding phase of the project. Cooperation with Fincantieri will enable to enhance the technical potential of Zvezda Shipbuilding Cluster and lay the basis for creation of innovative equipment. The cooperation will be carried out in compliance and subject to the applicable EU, U.S. and international trade rules.

20 Mar 2016

CHIC Cranes for Zvezda Shipbuilding Complex

Zvezda Far East Shipyard and Nantong COSCO Heavy Industry Co.,Ltd(CHIC) have signed a contract for the supply of 9 cranes for Zvezda shipyard in the presence of Igor Sechin, Rosneft Chairman,  Management Board Photo Rosneft

Contracts for unique equipment supplies were awarded during the visit of Rosneft Chairman of the Management Board Igor Sechin to China. Zvezda Far East Shipyard and Nantong COSCO Heavy Industry Co.,Ltd(CHIC) have signed a contract for the supply of 9 cranes for Zvezda shipyard in the presence of Igor Sechin, Rosneft Chairman of the Management Board. The document was signed by Evgeny Kraynov, Zvezda Project Leader and Zhao Zengshan, General Manager of Nantong COSCO Heavy Industry Co. Ltd.

10 Mar 2016

Indian Firms Plan to Sign Oil Deals with Rosneft

India plans to sign energy deals with Russian oil major Rosneft next week to buy stakes in Siberian fields, two sources privy to the deal said, as New Delhi accelerates a push to secure overseas energy assets. India, the world's third biggest oil importer, has to ship in three quarters of its oil needs and a substantial fall in oil prices has added an extra incentive to seal purchases of assets that are now relatively cheap to limit its reliance on imports. Rosneft's Chief Executive Igor Sechin will visit Delhi on March 15-16 to stitch together the deals, the sources said. Rosneft, the world's biggest listed oil company by output, also…

09 Mar 2016

Rosneft Starts Drilling First International Offshore Well

Russian oil producer Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, it said on Wednesday. It is Rosneft's first individual international offshore drilling project as an operator, Russia's largest oil producer said in a statement. After the completion of the PLDD-1X well, at Block 06.1, Rosneft will drill another exploration well in Block 05.3/11, also in the Nam Con Son Basin, in the Vietnamese waters, it said. "I am sure that the experience gained in Vietnam will be used by the company not only in its activity in the southern seas," Rosneft Chief Executive Igor Sechin said in a statement, adding it would help with planning and implementing upstream projects in remote areas.

11 Feb 2016

Rosneft, Pietro Barbaro Form JV for Shipping

Rosneft headquarters, Moscow Photo Rosneft

Rosneft and Pietro Barbaro S.p.A. signed a Memorandum of Understanding with the scope of creating a Joint Venture (JV) in the area of international shipping. The signed document envisages the performance by working groups of the companies of a joint analysis of potential formats of the JV’s organization. The parties highly value the prospects of the implementation of the projects, taking into consideration the prominent synergetic effect of such an alliance in the area of international…

27 Aug 2015

Rosneft, EGAS Ink LNG Supply Deal

HO of  Egyptian Natural Gas Holding Company

Rosneft Trading SA, a company of Rosneft Group, and the Egyptian Natural Gas Holding Company (EGAS) signed a Master LNG Supply and Purchase Agreement. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and the Chairman of EGAS Eng. Khaled Abdelbadie during the visit of the President of the Arab Republic of Egypt Hussein Abdel Fattah Saeed Khalil al-Sisi to Russia. In accordance with this document, the parties plan to organize the supply of LNG to the Arab Republic of Egypt. Cooperation with EGAS marks Rosneft Group's entry into the world LNG trading market.

19 Jun 2015

Rosneft: Shell-BG Deal Shows Strong British LNG Market

Igor Sechin (Photo: Rosneft)

Chief Executive with Rosneft, the world's top listed oil company by output, Igor Sechin, said on Friday that the acquisition of BG Group by Royal Dutch Shell showed that Britain's liquefied natural gas (LNG) market was strong. Shell plans to buy its British rival BG for $70 billion. BG has some of the world's most ambitious projects in LNG, where demand is growing as consumers turn away from more polluting fuels such as coal. Rosneft plans to build its own LNG plant in Russia in partnership with U.S. energy giant ExxonMobil.

17 Jun 2015

Russia's Sechin: US, Not OPEC, Rules Oil Market

Igor Sechin, the head of Russia's top oil producer Rosneft, said on Wednesday the United States is calling the shots on global oil markets, while the influence of OPEC has shrunk. The United States emerged with renewed vigour as a top producer thanks to its shale boom. By refusing to curb its  output to prop up oil prices, OPEC has tried to maintain its share in the global market, shrugging off lower prices which damage U.S. producers. "In essence, the sole market, which has all the sets of financial and technological tools, is the U.S. market, which has became the key regulator," Sechin told reporters, adding that oil prices in the United States set the tone of the global industry.

06 Feb 2015

Igor Sechin discusses Rosneft with Putin

President of the Russian Federation Vladimir Putin (Pic by Russian Federation)

The President of the Russian Federation Vladimir Putin held a working meeting on Wednesday with the Head of Rosneft Igor Sechin, who reported on the Company’s 2014 operational results to the President of the country. The overall hydrocarbons production at year-end was approximately 252 mln toe, which is amounts to a 4.6% organic growth compared to 2013 levels. Daily production level exceeds 5 mln boe, which is by one third higher than ExxonMobil’s level. Gas production increased by 35% - to 56.7 bcm. Liquid hydrocarbon production made around 205 mln tons.

25 Dec 2014

Rosneft Hikes Stake in NOC

Logo

Rosneft and Lukoil signed a package of legally binding documents regarding Rosneft’s acquisition of 20% share in the National Oil Consortium LLC (NOC). Due to this deal the share of Rosneft in the charter capital of NOC will increase to 80%, with the remaining 20% owned by Gazprom Neft. Consolidation of the consortium management resulting from the deal will allow to substantially improve operational control and have positive impact on the Junin-6 project implementation efficiency.

23 Aug 2014

Rosneft and NADL Sign Exchange of Assets Deal

Rosneft president Igor Sechin

Rosneft, Seadrill Limited and North Atlantic Drilling Limited (NADL) signed a Framework Agreement that envisages long-term cooperation in the sphere of oilfield development projects. The document foresees the acquisition by Rosneft of NADL shares through an exchange of assets and investments in NADL charter capital. Moreover agreement’s options contemplate a possibility for Rosneft to increase its stake in NADL according to the development of the cooperation. The deal is implemented within the Rosneft’s strategy aimed at strengthening and expanding its service business potential…

29 Aug 2014

Rosneft and AVTOVAZ Strengthen Strategic Cooperation

Rosneft and AVTOVAZ signed an Agreement of development of strategic cooperation

Rosneft President, Chairman of the Management Board Igor Sechin and AVTOVAZ President Bo Inge Andersson signed an Agreement of development of strategic cooperation, which significantly expands the scale of partnership between the companies. Among other things the document envisages the development, testing and introduction of lubricant materials and other Rosneft oil products required by AVTOVAZ businesses; and the possibility of closing of long-term contracts for the supply of AVTOVAZ production facilities with high-quality lubricant materials and oil products.

03 Sep 2014

Mongolian Citizens to be Trained in Rosneft Partner Universities

Russian president Vladimir Putin and the president of Mongolia Tsakhiagiin Elbegdorj

Rosneft Chairman of the Management Board Igor Sechin and Minister for Education and Science of Mongolia Luvsannyam Gantumur signed an Agreement to arrange the training of citizens of Mongolia in partner universities of Rosneft. The signing ceremony was led by Russian president Vladimir Putin and the president of Mongolia Tsakhiagiin Elbegdorj in Ulan-Bator. Rosneft will assist to organization of teaching process for Mongolian citizens at Russian universities, which includes covering expenses on education, migration formalities, domestic transport, accommodation, food, and scholarship.

24 Oct 2014

Rosneft Will Continue Arctic Drilling

The Kara-Winter-2014 Ice Expedition. (Photo Courtesy Rosneft)

Russia's biggest oil producer Rosneft will continue drilling in the Arctic Kara Sea on its own after the departure of its partner, U.S. oil major ExxonMobil, due to sanctions, the company's head Igor Sechin said on Friday. "We will continue drilling in any case, on our own, always and everywhere. If partners can take part - that's good, if they can't - we will carry on alone," Sechin told reporters. Exxon earlier suspended cooperation with Rosneft in the Arctic due to U.S. sanctions over Moscow's involvement in the conflict in Ukraine.

24 Nov 2014

Russia Has No Plan to Cut Oil Output

Russian Energy Minister Alexander Novak

Russia, the world's biggest energy exporter, does not plan to cut oil production to shore up prices, Rossiya 24 television quoted Energy Minister Alexander Novak as saying on Saturday. Russia, which relies on oil and gas exports for about half its federal budget, has been hit this year by a fall in global oil prices as well as by Western sanctions over its role in the Ukraine's crisis. The Energy Ministry confirmed Novak's quote to Reuters, adding that it was part of an interview with state-run Rossiya 24, the full version of which has yet to be aired.

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