ST PETERSBURG, Russia (Reuters) - Russia's top crude producer Rosneft is looking into a possibility of entering the U.S. stock market, the company's influential Chief Executive Officer Igor Sechin said on Wednesday.
ST PETERSBURG — Russia’s Rosneft agreed to double oil supplies to China, in a deal it valued at $270 billion on Friday, as the Kremlin energy champion shifts its focus to Asia from saturated and crisis-hit European markets.
Rosneft will supply China with 300,000 barrels per day over 25 years starting in the second half of the decade, on top of the 300,000 bpd it already ships to the world’s largest energy consumer.
At a time when the collapse in crude prices pushes Russia’s economy into a recession, the nation’s oil producers are managing to beat their western counterparts.
On measures including cash flow, profit margins and share prices, OAO Rosneft, Lukoil PJSC — Russia’s two largest oil producers — and OAO Gazprom Neft are performing better than Royal Dutch Shell Plc, BP Plc or Exxon Mobil Corp.
UFA: Russia's top oil producer Rosneft has made a significant step in its efforts to expand its global reach by signing a preliminary deal with Essar Group about acquiring up to 49 per cent of the Vadinar oil refinery in India. Rosneft, the world's top listed oil producer, has long sought to increase its exposure to the global markets but its efforts have been hampered by Western sanctions over Moscow's role in the Ukraine crisis.
MOSCOW — Russia’s top crude oil producer Rosneft wants to break the monopoly of another state-owned energy champion, Gazprom, to export gas via pipelines, sources said on Friday, signalling a flare-up between powerful clans.
Igor Sechin, a long-standing ally of Russian President Vladimir Putin, transformed Rosneft into the world’s top publicly traded oil producer through the US$50-billion purchase of Anglo-Russian firm TNK-BP last year.
NEW DELHI: Russia's top oil producer Rosneft today said it has reached a preliminary agreement to buy 49 per cent stake in Essar Oil and the deal is likely to be concluded by June. Rosneft has concluded due diligence of Essar Oil, which operates the country's second biggest private sector oil refinery at Vadinar in Gujarat. "We had constructive discussions with management of Essar. We achieved preliminary agreement on the terms and procedure," Rosneft CEO Igor Sechin told reporters after meeting Essar Directors Prashant Ruia and Ravi Ruia here.
With TNK-BP, Rosneft overtakes Exxon and PetroChina Co. in output. It will pump about 4.1 million barrels a day this year
OAO Rosneft’s US$55-billion takeover of TNK-BP creates an empire stretching from Russia’s Far East to Venezuela that pumps almost 5% of the world’s crude.