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Rosneft, Exxon reveal plans for $15 billion Russia LNG project

April 11, 2013 12:16
By Denis Dyomkin ULAN-UDE, Russia (Reuters) - Rosneft <ROSN.MM> and ExxonMobil <XOM.N> on Thursday unveiled details of a $15 billion (9.7 billion pounds) liquefied natural gas project to supply Asia-Pacific markets that would challenge Gazprom's <GAZP.MM> monopoly on Russian gas exports. The Russian and U.S. energy majors have agreed to study the possibility of building the plant to liquefy gas from their joint Sakhalin-1 oil and gas project off Russia's Pacific coast.

Russia mulls 19 percent Rosneft stake sale in 2013 - Economy Minister

April 11, 2013 07:30
MOSCOW (Reuters) - Russia's government is considering selling a 19 percent stake in state-controlled oil major Rosneft <ROSN.MM> this year as part of plans to speed up privatisation, Economy Minister Andrei Belousov said. Russia's plan to sell stakes in large firms and banks has slipped behind schedule, but officials are showing greater urgency to complete asset sales as a slowing economy dents tax revenues.

Putin critic Navalny says 'ready for prison'

April 8, 2013 08:32
Charismatic Russian opposition leader Alexei Navalny, who goes on trial in just over one week, said Monday that he was mentally prepared for a prison sentence and had even packed a bag of clothes to take to jail. In an interview published in opposition New Times weekly, Navalny said that he was ready to be imprisoned in his embezzlement case, which he believes is being personally directed by President Vladimir Putin.

Unprecedented rise of China may mean transition to bipolar world

April 6, 2013 04:03
This month the new president of the People’s Republic of China, Xi Jinping, made his first visit abroad to the Russian Federation, having hosted US Treasury Secretary Jack Lew in Beijing to discuss bilateral economic relations. Having also taken over the reins of the Chinese Communist Party as well as the military, President Xi has become the face and voice of China for the next decade. His visit to Russia was particularly welcomed by President Vladimir Putin, who stressed the symbolic significance of the Chinese head of state making his first international destination Moscow,

Rosneft to borrow TNK-BP's cash, names new executives

March 26, 2013 08:30
MOSCOW (Reuters) - Rosneft <ROSN.MM>, Russia's top crude producer, said its board had approved taking five-year loans from TNK-BP <TNBP.MM> totalling up to $9.7 billion (6.3 billion pounds) as a way to tap free cash in the company it acquired last week. The company also announced changes in its management team after completing the $55 billion TNK-BP acquisition from BP <BP.L> and the AAR consortium of Soviet-born tycoons.

Rosneft to repatriate TNK-BP assets from Cyprus

March 22, 2013 15:04
Russian state oil giant Rosneft said Friday it plans to repatriate assets inherited through its recent take-over of TNK-BP which are registered in several of the world's tax havens, including in Cyprus. "Considering the risks in offshore zones, we will reregister all our assets in Russia," Rosneft chief executive Igor Sechin told reporters. Rosneft became the world's top listed oil firm after completing Thursday the $56-billion deal to buy the remaining BP-held stakes in the TNK-BP oil-firm joint venture. Earlier this year it had bought the Russian stakes.

Chinese leader Xi, Putin agree key energy deals

March 22, 2013 13:46
China's new leader Xi Jinping and his Russian host, President Vladimir Putin, on Friday oversaw the signing of a raft of energy and other agreements as they sought to further tighten their countries' already close partnership. Xi, who is on his first foreign trip as president, hailed "breakthrough agreements" and said he and Putin had agreed on a deal that will see Russia, the world's largest energy producer, increase oil supplies to China, the world's biggest energy consumer.

Rosneft chief financier quits after TNK-BP deal - reports

March 22, 2013 02:00
MOSCOW (Reuters) - Dmitry Avdeyev, who has been managing finances at Russia's biggest oil producer Rosneft <ROSN.MM> since June 2012, has left the company after it completed the $55 billion (36.2 billion pounds) acquisition of TNK-BP <TNBP.MM>, local press reported on Friday. Kommersant business daily, citing unidentified sources, tipped Svyatoslav Slavinsky, a senior banking services executive with Citigroup <C.N> in Russia, as Rosneft's new vice president for finances.

CORRECTED: Russian Rosneft completes $56 bn TNK-BP takeover

March 21, 2013 12:02
Russian state oil giant Rosneft announced Thursday the creation of the world's top listed oil firm as it sealed a $56-billion acquisition of the British and local stakes in the lucrative but strife-torn joint venture TNK-BP . The deal creates a Russian government-run supergiant with fields and refineries stretching from Eastern Europe through Siberia to the Pacific Coast. It also closely links BP's future with a country that is the world's top oil producer but is also criticised for the inefficiency of its state-owned energy firms.

Russian Rosneft completes $56 bn TNK-BP takeover

March 21, 2013 11:30
Russian state oil giant Rosneft announced Wednesday the creation of the world's top listed oil firm as it sealed a $56-billion acquisition of the British and local stakes in the lucrative but strife-torn joint venture TNK-BP . The deal creates a Russian government-run supergiant with fields and refineries stretching from Eastern Europe through Siberia to the Pacific Coast. It also closely links BP's future with a country that is the world's top oil producer but is also criticised for the inefficiency of its state-owned energy firms.
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