Rosneft

Rosneft is still aiming to start production at its giant Vankor oil field in eastern Siberia next year despite a delay in the completion of a pipeline that was supposed to carry the field's oil to Asian markets, a top company executive said Thursday. "The crude from Vankor can go westward," first vice president Sergei Kudryashov said at a news conference. "That's why Vankor is developing as planned. No one reduced the funding." When launched, the field will have a link to the pipeline network operated by Transneft, Kudryashov said. Crude from the field could also go to Rosneft's refineries in Angarsk and Achinsk bought recently from bankrupt Yukos, he said. State-run Rosneft, the world's largest oil company by reserves, plans to produce at least 1.5 million tons of oil at the field by the end of next year, Kudryashov said. It hopes to produce between 25 million and 35 million tons annually later, he said. Transneft, which is building a 30-million-ton pipeline from east Siberian fie

He made his first public appearance at Rosneft's inaugural shareholder meeting five months ago. Now, Igor Sechin, President Vladimir Putin's powerful deputy chief of staff and chairman of Rosneft's board, stands poised to consolidate control over the country's largest oil company, industry sources... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Siemens in Atomic Venture German engineering conglomerate Siemens signed an agreement Tuesday with Russia to help the country boost nuclear power generation. The Federal Atomic Energy Agency said its... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Siemens in Atomic Venture German engineering conglomerate Siemens signed an agreement Tuesday with Russia to help the country boost nuclear power generation. The Federal Atomic Energy Agency said its chief, Sergei Kiriyenko, had signed the memorandum in Moscow with Rudi Lamprecht, a member of Siemens' managing board.The agency said Siemens would help Russia boost nuclear power generation capacity at home and abroad and to reconstruct reactors. (Reuters) Rosneft May Issue Bond Rosneft is considering a convertible offering as it looks to issue $2 billion in eurobonds by the end of this year, vice-president for finance and investments Peter O'Brien said Tuesday. "We are looking at different refinancing options and do not rule out a $2 billion eurobond issue … a convertible bond is one possible option," O'Brien said. (Reuters) E.On, Gazprom Project E.On, Germany's largest utility, and Gazprom may build natural gas-fired power stations together in Germany, Hungary or Britain, E.On C

Gazprom said Friday that it would continue talks with Ukraine next week on gas supplies and Kiev's debts for them, despite earlier announcing that the issues had been resolved. Gazprom said in a... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Gazprom said Friday that it would continue talks with Ukraine next week on gas supplies and Kiev's debts for them, despite earlier announcing that the issues had been resolved. Gazprom said in a statement that a new round of talks would start Monday, when Ukrainian Energy Minister Yuriy Boyko returns to Moscow. Gazprom said Tuesday that it might reduce gas supplies to Ukraine if the country failed to repay a $1.3 billion debt for earlier deliveries. The threat caused unease in the European Union because a previous pricing dispute between Russia and Ukraine resulted in significant supply reductions to some European Union countries in early 2006. Gazprom issued the warning as Ukraine was still calculating results of its parliamentary elections, and the move was widely seen as an attempt to put pressure on Ukraine to form a pro-Moscow government. On Wednesday, Gazprom said Ukraine had pledged to redeem the debt before Nov. 1. The issue is complicated as Ukrainian officials have acknowled

Rosneft Isn´t Willing to Pay Yukos Debts A few lawsuits were filed to the arbitration courts late past week to challenge loans that Luxembourg Yukos Capital S.a.r.l. granted in 2004 to Yukos subsidiaries, which are currently controlled by Rosneft.If nine loan agreements are acknowledged null and void, Rosneft won’t pay roughly 20 billion rubles to Yukos Capital that the latter is attempting to enforce via the International Commercial Arbitration. Some Vesta Co. filed four suits to Moscow Arbitration on August 9, 2007. Acting on behalf of Rosneft, Vesta is seeking invalidation for four loan agreements worth $450 million that Yukos Capital and Yuganskneftegaz concluded in July to August of 2004. Rosneft is the legal successor to Yuganskneftegaz.On September 19, 2006, the International Commercial Arbitration of Russia’s Chamber of Commerce ruled to charge from Rosneft roughly 13 billion rubles (with accrued interest taken into account) in favor of Yukos Capital.On May 18, 2007, ho

Sergei Bogdanchikov may quit his job as CEO of Rosneft if he is elected to the State Duma in December elections, Vedomosti reported Tuesday.Bogdanchikov and his former deputy Nikolai Borisenko are listed as possible candidates to run for the pro-Kremlin United Russia party as representatives from Sakhalin, the newspaper reported, citing the party's web site.United Russia will decide on a final list of candidates for the Duma by September, Vedomosti said. Born in 1957 in Bogdanovka in the Orenburg region, Bogdanchikov studied mining engineering and in 1981 moved to Sakhalin. Bogdanchikov started working on the island of Sakhalin as an oilman in the 1980s, whereas Borisenko was born there, the newspaper said.Bogdanchikov's popularity may help raise United Russia's ratings in the region, Vedomosti said. Polish news magazine Wprost rated Bogdanchikov's wealth at $800 million in 2006, Vedomosti said.Via: The Moscow TimesBlogalaxia Tags: Russia,Rosneft Advertise on The ENERGY DATA WAREHO

Rosneft will borrow about $3.6 billion from Western and Russian banks, the firm said Friday, in a step that would further add to its heavy debt load. The state-controlled oil firm, which has this year spent over $20 billion to buy assets of bankrupt oil firm Yukos at forced auctions, did not say whether it would use the proceeds to refinance its earlier debt or for other purposes. The money will come from a syndicate of Western banks, which will lend $3.25 billion for five years, while the country's second largest bank VTB will provide another 8.4 billion rubles ($329.5 million), the company said. Rosneft's debt has been fluctuating at around $30 billion this year as it had secured a record $22 billion in bridge financing from Western banks to buy Yukos' top assets. Its most recent debt deals include a $2 billion syndicated loan and a $2 billion eurobond, which is less than the $5 billion it planned to issue, Interfax reported, citing an unidentified person close to the transaction.

Russian oil major Rosneft is set to load the first part of the Eastern Siberian-Pacific Ocean pipeline to the full, the pipeline’s operator Transneft said Thursday. Rosneft is reported to be ready to send 25 million out of the pipeline’s 30 million metric tons capacity.The transit rate has not been set, but experts say Rosneft will even agree to low profits from the pipeline which is largely viewed as a political project. Transneft President Semen Vainshtok said Thrusday his company had received Rosneft’s application to pump 25 million tons of oil through the pipeline in 2009. The rest 5 million of the capacity will be divided among other firms. He said demand would grow after 2009 as Transneft had received “real and confirmed” application to pump 36 million of oil after 2009. Mr. Vainshtok declined to say when the pipeline would be capable of pumping this volume. Rosneft did not confirm the report about the 2009 application.The 2,700 km-long pipeline runs from Irkutsk Regi

Rosneft won an auction of property and equipment of bankrupt oil firm Yukos on Thursday, paying 5.85 billion rubles ($229 million) for assets that may help the state-controlled major secure large crude reserves. Rosneft, which has so far emerged as the winner of almost all important Yukos property auctions, beat previously unknown firm Benefit with a bid just 2 percent above the starting price. The auction took less than 10 minutes. That was two bids higher than the starting price of 5.73 billion rubles, one of the fastest sales this year. The state oil company bid directly, rather than through a unit, as it did at other auctions this year. The lot included property rights and equipment at 11 large oil and gas fields, and their owner will have an advantage in booking reserves in the future. The fields are in the Samara region and the Evkenia and Khanty-Mansiisk autonomous districts, where Rosneft produces most of its oil, including the East Salym, Tersk-Komovsk and Sredne-Balyksk fi

Rosneft has bought about 600 filling stations that belonged to bankrupt oil firm Yukos for 21.2 billion rubles ($819 million), the company said Tuesday. Rosneft said its 100 percent subsidiary Neft-Aktiv bought Unitex, which has 495 filling stations and a number of product terminals in European and southern Russia, for 16.3 billion rubles. Neft-Aktiv also bought more than 100 retail stations from another lot of the Yukos assets for 4.9 billion rubles. Unitex, a little-known company whose owners have not been disclosed, paid 17.5 billion rubles ($676 million) in auctions that included the assets bought by Rosneft. The purchase of the filling stations would help Rosneft become a leader in the retail market in Russia, Rosneft said. "Having added refining capacity lately, and with our desire to expand the downstream business generally, it's clear that it's a very profitable business and will continue to grow, and the margins are attractive," said Peter O'Brien, Rosneft's finance v

Rosneft has bought about 600 filling stations that belonged to bankrupt oil firm Yukos for 21.2 billion rubles ($819 million), the company said Tuesday. Rosneft said its 100 percent subsidiary Neft-Aktiv bought Unitex, which has 495 filling stations and a number of product terminals in European and southern Russia, for 16.3 billion rubles. Neft-Aktiv also bought more than 100 retail stations from another lot of the Yukos assets for 4.9 billion rubles. Unitex, a little-known company whose owners have not been disclosed, paid 17.5 billion rubles ($676 million) in auctions that included the assets bought by Rosneft. The purchase of the filling stations would help Rosneft become a leader in the retail market in Russia, Rosneft said. "Having added refining capacity lately, and with our desire to expand the downstream business generally, it's clear that it's a very profitable business and will continue to grow, and the margins are attractive," said Peter O'Brien, Rosneft's finance v

Rosneft plans to increase spending at its Vankor oil field in eastern Siberia almost fivefold this year to $1.5 billion, Interfax said Thursday, citing the chief engineer of the project, Alexander Nazarenko. The oil company will boost spending to 38 billion rubles ($1.5 billion) from 8 billion rubles last year at the field, which will help fill a pipeline being built across Siberia to the Pacific Ocean, the agency said. Of this year's investment, 7 billion rubles will be spent on exploration and drilling and the rest on capital construction, Interfax said. Nazarenko said Vankor can probably produce as much as 34 million tons of oil in 2014, while the current estimate of peak output is almost 22 million tons a year from 2012 to 2016, Interfax reported. Interfax also reported Thursday that Rosneft CEO Sergei Bogdanchikov said the company plans to invest "hundreds of millions of dollars" to upgrade the Achinsk refinery in eastern Siberia. The Krasnoyarsk regional administration expects R

Rosneft plans to increase spending at its Vankor oil field in eastern Siberia almost fivefold this year to $1.5 billion, Interfax said Thursday, citing the chief engineer of the project, Alexander Nazarenko. The oil company will boost spending to 38 billion rubles ($1.5 billion) from 8 billion rubles last year at the field, which will help fill a pipeline being built across Siberia to the Pacific

Experts estimate the real cost of YUKOS real estate at not over $550 million. Until yesterday, no one in the world has ever paid almost $4 billion for a building. Meanwhile, neither experts nor YUKOS claimers know who stands behind Prana.More...

by Catherine Belton Rosneft snapped up the last production unit belonging to Yukos for a steep discount in a bankruptcy auction on Thursday, sealing the state-run oil major's takeover of Mikhail Khodorkov­sky's empire, once Russia's biggest. Rosneft beat the only other bidder to pay $6.43bn for the Samaraneftegaz unit and three refineries in a 10-minute auction.The sole remaining major Yukos

by Catherine Belton Rosneft snapped up the last production unit belonging to Yukos for a steep discount in a bankruptcy auction on Thursday, sealing the state-run oil major's takeover of Mikhail Khodorkov­sky's empire, once Russia's biggest. Rosneft beat the only other bidder to pay $6.43bn for the Samaraneftegaz unit and three refineries in a 10-minute auction.The sole remaining major Yukos

Rosneft, Russia's government-owned oil company, paid USD 6.82 billion at an auction on May 3 for Siberian oil producer Tomskneft and other assets formerly belonging to Mikhail Khodorkovsky's bankrupt YUKOS. More..

by Miriam Elder Rosneft achieved its goal of becoming the country's largest oil company on Thursday as it scooped up Tomskneft, Yukos' penultimate oil unit to go under the auctioneer's hammer. In 15 minutes of sometimes-confused bidding, a Rosneft subsidiary beat out a challenge from a mystery firm thought linked to Gazprom, buying Tomskneft and other assets for $6.8 billion, just $350 million

by Miriam Elder Rosneft achieved its goal of becoming the country's largest oil company on Thursday as it scooped up Tomskneft, Yukos' penultimate oil unit to go under the auctioneer's hammer. In 15 minutes of sometimes-confused bidding, a Rosneft subsidiary beat out a challenge from a mystery firm thought linked to Gazprom, buying Tomskneft and other assets for $6.8 billion, just $350 million

Rosneft could oust oil firm Yukos from three of its refineries as early as May, before the plants are auctioned by the state, traders said Thursday. Rosneft plans to use the entire processing capacity of the Samara group of refineries from next month, processing its own crude and most likely topping up with crude currently supplied by Yukos, traders said. The Syzran, Novokuibyshevsk and