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Saturday, April 21, 2018

Rosneft News

Eni has no plans to pull out of Rosneft deal after sanctions

Claudio Descalzi (Photo: Eni)

Arctic: ExxonMobil Exits, Rosneft Goes Ahead

Photo: ExxonMobil

Russian state oil company Rosneft will continue geological explorations in the Arctic offshore zone after ExxonMobil quits the joint projects, reports TASS. The report qouted Natural Resources Minister Sergey Donskoy saying that the Arctic licenses will remain with Rosneft and the company "plans to continue to operate there". Exxon Mobil  decided to withdraw from the joint projects with Rosneft in late 2017 after Washington issued a legal act expanding against Russia. According to the document, in 2013 and 2014 Exxon Mobil and Rosneft created various entities for operations in oil exploration.

Rosneft Brasil to Acquire Controlling Stakes in Solimoes Project

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Rosneft Brasil (Rosneft subsidiary) and HRT O&G (HRT subsidiary) received approval by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP) for the Rosneft Brasil transaction to acquire additional 6% in the Solimoes project. Under the agreement the completion of the purchase and transaction between HRTO&G and Rosneft Brasil shall occur up to 30 days after the regulatory approval. The transaction will lead to Rosneft Brasil to receiving 51% control and taking over the operatorship in the joint venture in the Solimoes basin.

Igor Sechin Held Negotiations in Venezuela

Igor Sechin Hold Negotiations in Venezuela

Rosneft President Igor Sechin held talks with the Minister of Popular Power for Oil and Mining and President of Petróleos de Venezuela, SA (PDVSA ), Rafael Ramirez Carreno. The parties discussed a wide range of issues regarding current cooperation between the companies, Rosneft activities in Venezuela and the outlook of development of new projects. Currently Rosneft and PDVSA cooperate in the realization of 5 Joint Ventures in the upstream sphere in Venezuela. Project Carabobo-2,4 (JV Petrovictoria). JV PetroMonagas. Project Junin-6 (JV PetroMiranda). JV Boqueron. JV Petroperija.

Eni and Rosneft Complete Joint Exploration

Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, have signed, at the Saint Petersburg International Economic Forum, a Completion Deed relating to the agreements for the joint development by the two companies of exploration activities in the Russian Barents Sea (Fedynsky block and Central Barents block) and Black Sea (Western Chernomorsky block). The projects are part of the wider cooperation between Eni and Rosneft sanctioned under the Strategic Cooperation Agreement entered into by the parties on April 25, 2012, which provides for joint development of the Russian offshore blocks, technological and staff exchange and Rosneft’s participation in Eni’s international projects.

Rosneft Teams With Statoil to Develop Offshore Arctic

Russian oiil major Rosneft teams up with Statoil's Helge Lund to drill in formerly disputed waters of the Barents Sea Oil major Rosneft will establish a subsidiary in Norway, which is to develop Norwegian Arctic fields together with Statoil. The documents signed by Statoil and Rosneft during the St. Petersburg Economic Forum are part of the comprehensive cooperation agreement concluded by the two companies on 5 May, a deal which gives Statoil a 33,4 percent stake in Rosneft’s promising Perseevsky field in the Barents Sea. Now it is Rosneft’s turn to move across the border. The agreements signed in St. Petersburg will give the Russian oil giant a foothold on the Norwegian shelf. And it is the Norwegian Arctic which is of prime interest to Rosneft.  

Eni, Rosneft Sign Oil Supplies Agreement

Rosneft’s President and Chairman of the Management Board, Igor Sechin, and Eni’s CEO, Paolo Scaroni, in the presence of the Russian President, Vladimir Putin, and Italy’s Prime Minister, Enrico Letta, has signed a term sheet on mutual crude oil supplies and a heads of agreement on joint participation and investments in logistic and commercial activities within the hydrocarbons sector. Rosneft will supply crude oil to PCK Schwedt refinery in Germany and ÄŚeská Rafinerska refinery in the Czech Republic which are both participated by Eni.

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…

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.

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.

Rosneft Delivers First Gasoline Cargo to Asia-Pacific

Energy giant Rosneft said on Thursday its trading arm had delivered an inaugural gasoline cargo to the Asia-Pacific, marking what could be Russia's first foray into a region dominated by OPEC producers from the Gulf. The 200,000-barrel cargo, bought by Rosneft from the international market and taken by Indonesian state energy company Pertamina, was delivered on free-on-board (FOB) terms to Malaysia. Rosneft declined to say from which refinery it had received the cargo. It also did not say from or to which ports it was being delivered. The cargo was shipped to Pertamina within a term agreement for the delivery of 1.2 million barrels signed between the companies in June, Rosneft said.

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.

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.

Rosneft Hikes Stake in NOC

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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.

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.

Rosneft Inks Supply Pact with PDVSA

Russian top crude producer Rosneft and Venezuelan state oil company PDVSA have signed a new contract for supplies of oil and oil products of Venezuelan production, the Russian company said on Monday. The document envisages the supplies of over 1.6 million tonnes of oil and 9 million tonnes of oil products to Rosneft within five years, it added in a statement. Under their first long-term contract, signed in May, the Venezuelan party has already supplied 375,000 tonnes of oil products, Rosneft said. Reporting by Polina Devitt

Lloyds Bank Withdraws From Rosneft-BP Loan

Lloyds Bank, part-owned by the British government, has withdrawn from a $1.5-$2 billion trade finance deal involving oil major Rosneft, in a development highlighting the growing unease among Western banks in funding Russian deals. Lloyds, along with Deutsche Bank, HSBC and Bank of China was a mandated lead arranger (MLA) on the loan to finance BP's purchase of crude oil and refined products from Rosneft. The loan would be similar to previous such deals Rosneft had with BP or trading houses Glencore and Vitol but, according to banking sources close to the deal, Lloyds decided to walk away after several weeks of hesitation. The bank is 25 percent-owned by the UK government, which has repeatedly condemned Russia over its actions in Crimea and eastern Ukraine.

Statoil, Rosneft Sign Deal

Statoil and Rosneft today signed agreements on joint bidding for exploration licenses in the Norwegian Barents Sea and on Joint Technical Evaluation covering two Russian onshore assets. This concludes the first implementation agreements envisaged in the strategic cooperation that the two companies entered into on 5 May, 2012. The agreements were signed by Statoil CEO Helge Lund and Rosneft Chairman and President Igor Sechin at the World Economic Forum in St. Petersburg. "These agreements show that Statoil and Rosneft are moving rapidly to implement the cooperation agreement signed on 5 May," says Statoil CEO Helge Lund. "The speed with which we are proceeding reflects our joint commitment and determination to realize the potential of the strategic cooperation," he continues.

Rosneft and ONGC Videsh sign MOU

Rosneft and ONGC Videsh Limited signed a Memorandum of Understanding (MOU) yesterday for cooperation in exploration, appraisal and hydrocarbon producton on the continental shelf of the Russian Federation Igor Sechin, President and Chairman of the Management Board, Rosneft and Dinesh Kumar Sarraf, Chairman of the Board of Directors, ONGC Videsh Ltd and Chairman & Managing Director, ONGC signed a Memorandum of Understanding at the St. Petersburg International Economic Forum, in the presence of Mr. Vladimir Putin, President of the Russian Federation. The Memorandum paves the way for the companies’ cooperation in subsurface surveys, exploration and appraisal activities and hydrocarbons production in Russia’s offshore Arctic.

Rosneft May Build LNG Plant in Far East on Its Own

Russian energy giant Rosneft may build a liquefied natural gas (LNG) plant in the far east using exclusively its own resources and gas reserves, Rosneft vice president Vlada Rusakova said on Thursday.   Rosneft and U.S. energy firm Exxon earlier announced plans to build an LNG plant in Russia's far east together.   Rusakova said Rosneft's base scenario for monetising its gas reserves and those of its partners in the Sakhalin-1 project remained building an LNG plant together with Exxon. (Reporting by Katya Golubkova and Olesya Astakhova; Writing by Alexander Winning; Editing by Elaine Hardcastle)

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday. Last year Egypt and Rosneft signed a memorandum of understanding for a slew of petroleum products as well as 24 LNG cargoes. Only five of the 24 initially agreed cargoes were later inked into a final deal. "We're receiving the first shipments of LNG from Rosneft this month out of the five shipments that were agreed upon," said the EGAS official, declining to provide the value of the shipment or its size. Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas production and increasing consumption.

Rosneft Acquires Oilfield Service from Trican

Photo Trican

A company of the Rosneft Group and a subsidiary of Trican Well Service Ltd. signed a framework agreement and ancillary documents, pursuant to which a Rosneft subsidiary agreed to acquire a 100% shareholding in Trican Well Service LLC, which provides high-quality pressure pumping services focused on enhancement of production within the conventional oil and gas industry in Russia. The purchaser has already obtained the necessary approval of the Federal Antimonopoly Service of the Russian Federation. The parties plan to close the transaction on August 20, 2015.

Egypt, Russia Pact for LNG Shipments

Image by ESRG

The Egyptian Natural Gas Holding Company (EGAS) signed an initial agreement with Russian company Rosneft to supply oil products and liquefied natural gas (LNG) shipments. The document defines key terms of the future cooperation between the companies in the area of LNG supplies. The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader cooperation between the two companies. Minister of Petroleum…

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