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Key Developments: NK Rosneft' OAO (ROSNq.L)

ROSNq.L on London Stock Exchange

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27 May 2016
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Latest Key Developments (Source: Significant Developments)

Keppel Corp to establish JV with Rosneft and MHWirth for design of offshore drilling units
Thursday, 19 May 2016 

Keppel Corporation Ltd : Joint venture with Rosneft and Mhwirth to establish design and engineering centre) . Shareholding of Keppel, Rosneft and Mhwirth in the JVCO will be 45%, 45% and 10% respectively . Transaction will not have any material impact on EPS of KCL for the financial year ending 31 December 2016 . Keppel corp- unit of Keppel Offshore & Marine enters shareholders agreement with Rn-Foreign Projects Ltd Liability and Mh Wirth Singapore Engineering Management . Jvco will establish a wholly-owned design and engineering centre in the Russian federation .  Full Article

Moody's confirms NK Rosneft' OAO corporate family rating, gives negative outlook
Tuesday, 26 Apr 2016 

NK Rosneft' OAO:Says Moody's confirms NK Rosneft' OAO corporate family rating at Ba1, gives negative outlook.  Full Article

NK Rosneft' OAO plans to keep gas production level in 2016 - Reuters
Thursday, 31 Mar 2016 

NK Rosneft' OAO:Plans to produce 64.8 bcm of gas in 2016, contracts 67.8 bcm for this year - Reuters.Expects significant increase of supply to China.  Full Article

NK Rosneft' OAO confirms its interest to Enter Essar Oil Limited share capital
Wednesday, 16 Mar 2016 

NK Rosneft' OAO:Says during the visit to India Rosneft Chairman of the Management Board Igor Sechin has held negotiations with the Management of Essar.Preliminary mutual understanding has been achieved on the timing and structure of a deal to buy into the equity of Essar Oil Limited.The parties intend to sign and close the transaction by the end of June 2016 upon obtaining all necessary permits.In addition an agreement on crude oil deliveries to commence this year has also been achieved.  Full Article

NK Rosneft' OAO to form consortium based on Vankor
Wednesday, 16 Mar 2016 

NK Rosneft' OAO:Rosneft, Oil India, Indian Oil and Bharat Petroresources signed a heads of agreement in respect to the acquisition by a group of Indian investors of a 23.9 pct share in Vankroneft.Rosneft also signed with ONGC Videsh Limited a memorandum of understanding for cooperation in respect of the Vankor project, envisaging the prospective increase to 26 pct of the share of the Indian company in Vankroneft.Earlier the companies signed the agreement of sale and purchase of 15 pct in Vankorneft and shareholders agreement in regard of the joint enterprise management.The closing of the sale and purchase deal is expected in the short term.Says Rosneft will maintain its majority share in Vankor project.  Full Article

NK Rosneft' OAO reports large oil spill on Sakhalin island - Reuters
Thursday, 3 Mar 2016 

NK Rosneft' OAO:Rosneft said on Thursday that around 15 tonnes (110 barrels) of oil spilled off from an idled pipeline on the Pacific island of Sakhalin, while local ecologists say the scale of disaster is far larger - RTRS.Rosneft said the spill occurred on Wednesday at the Ekhabi oilfield in northern Sakhalin. The company decided to burn the spilled oil to "minimise ecological damage".Dmitry Lisitsin, an activist at a local ecological watchdog in Sakhalin, estimated the size of the spill at about 300 tonnes. "They started to burn the spilled oil, people see massive plumes of black smoke," he said by phone from Sakhalin."This is a large spill, and the problem is of a systemic nature," said Vladimir Chuprov from Greenpeace."Unless oil companies start paying in full, they don't have the motivation to prevent spills," he said, adding that total fines for oil spills in Russia amount to only 10 billion roubles ($135.2 million) annually.Ecological watchdog Rosprirodnadzor has evaluated the damage from another spill at a Rosneft subsidiary in June in Western Siberia at 270 million roubles, business daily Vedomosti reported. Rosneft estimated the size of that spill at 0.5 tonnes.  Full Article

NK Rosneft' OAO increases stake in Petromonagas JV with PDVSA
Monday, 22 Feb 2016 

NK Rosneft' OAO:Rosneft and PDVSA signed key terms for the acquisition of 23.33 pct of the share capital in Petromonagas joint venture, producing extra heavy oil in Venezuela.The document reflects indicative terms and conditions in relation to the equity acquisition.Currently Rosneft owns 16.67 pct in this joint venture, after the transaction is completed Rosneft will increase its stake to 40 pct of JV and PDVSA participation will be reduced to 60 pct.  Full Article

NK Rosneft' OAOsays to get up to 37.3 billion rouble credit from Gazprombank-Reuters
Tuesday, 16 Feb 2016 

NK Rosneft' OAO:Russia's Gazprombank will open a credit line for up to 37.3 billion roubles for the country's top oil producer Rosneft, the energy firm said-Reuters.The loan may be issued for a period not longer than 6 years, Rosneft said.  Full Article

NK Rosneft' OAO - Kuibyshev oil refinery reports fire, output as planned - Reuters
Sunday, 31 Jan 2016 

NK Rosneft' OAO:Russia's Kuibyshev oil refinery, controlled by Rosneft ROSN.MM, said a catalytic cracking unit caught fire on Sunday, while the incident did not affect oil product output plans. -RTRS.It said the fire had been put out and no one was hurt. Last year, the refinery located in the Volga region, processed 6.146 million tonnes (123,000 barrels per day) of crude oil. - RTRS.  Full Article

NK Rosneft' OAO and Alltech finalize creation of JV for gas business development in Nenets Autonomous District
Friday, 25 Dec 2015 

NK Rosneft' OAO:A company of the Rosneft group and a company of the Alltech group finalized the creation of a joint venture (JV) for the scope of gas production and marketing projects’ development in the Nenets Autonomous District.Mineral licenses for the Kumzhinskoye and Korovinskoye fields as well as funds for the development of the project were affiliated to the JV.Rosneft obtained a majority stake in the JV.The finalization of the creation of the JV was executed within the framework of the implementation of the updated commercial parameters for cooperation, signed between the parties within SPIEF-2015.The JV will form the basis of the creation of a new high-technology gas production center in the Nenets Autonomous District, within which the implementation of different upstream, refining, marketing and supply to end customers’ projects are planned.The development of the project represents a key element of Rosneft gas strategy.  Full Article

UPDATE 1-Russia's Gazprom sees record 2016 gas exports to Europe

ST PETERSBURG, Russia, May 26 Russia's Gazprom plans to export a record 165 billion cubic metres (bcm) of gas to Europe this year, the company's deputy chief executive Alexander Medvedev told reporters on Thursday.