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

ROSNq.L on London Stock Exchange

29 Jul 2014
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Latest Key Developments (Source: Significant Developments)

NK Rosneft' OAO announces statement regarding being entered on OFAC sectoral sanctions list
Friday, 18 Jul 2014 

NK Rosneft' OAO:Sees Rosneft being included in the OFAC sectoral sanctions list as illegitimate and groundless.Says that it will continue to work on the existing projects and agreements.  Full Article

U.S. Treasury Department imposes sanctions on NK Rosneft' OAO, Novatek OAO and Gazprombank OAO
Wednesday, 16 Jul 2014 

NK Rosneft' OAO:U.S. Department of the Treasury says that it has imposed sanctions that prohibit U.S. persons from providing new financing to two Russian financial institutions, Gazprombank OAO and VEB, and two Russian energy firms, Novatek OAO and NK Rosneft' OAO, limiting their access to U.S. capital markets.U.S. Department of the Treasury says the sanctions are imposed on entities within the financial services and energy sectors of Russia, against arms or related materiel entities, and those undermining Ukraine's sovereignty.  Full Article

NK Rosneft' OAO expands cooperation with airlines of China
Wednesday, 16 Jul 2014 

NK Rosneft' OAO:Says that RN-Aero, Rosneft subsidiary, and Hainan Airlines, private airline of China, for the first time have sealed a contract on fuel supplies.In July RN-Aero started fuelling Hainan Airlines planes in Russian airport Sheremetyevo.The monthly volume of refueling for Hainan Company in Sheremetyevo airport will make up to 1,200 tons.  Full Article

NK Rosneft' OAO acquires oil field services from Weatherford International PLC
Monday, 14 Jul 2014 

NK Rosneft' OAO:Signs agreement with Weatherford International PLC for the acquisition of Rosneft land drilling and workover assets of Weatherford in Russia and Venezuela.The agreement envisages the acquisition of 8 companies (part of the Weatherford group) involved in drilling operations in Russia and Venezuela.The document also envisages the development of long-term cooperation in oil field services between Rosneft and Weatherford.The closing of the transaction is expected to close in the third quarter of 2014.  Full Article

NK Rosneft' OAO, HRT Participacoes em Petroleo SA and Petrobras agree to study possibility of gas monetization in Solimoes Basin
Monday, 14 Jul 2014 

NK Rosneft' OAO:Says that Rosneft, HRT Participacoes em Petroleo SA (HRT) and Petrobras signed a memorandum of understanding on cooperation to study development schemes for a joint monetization of gas in the Solimoes Project in the Amazon region.The memorandum envisages detailed analysis of options for monetization of gas held in the Solimoes basin, creation of a joint Work Group and preparation of roadmap for progressing the study.  Full Article

NK Rosneft' OAO subsidiary begins production drilling at Suzunskoye field-Interfax
Friday, 11 Jul 2014 

NK Rosneft' OAO:Rosneft subsidiary CJSC Vankorneft has begun drilling its first production well at the Suzunskoye field of the Vankor cluster, located on the border between Krasnoyarsk territory and the Yamal-Nenets Autonomous District, Rosneft said in a statement-Interfax.Another three new production wells are planned to be drilled at Suzunskoye by the end of this year, and drilling is set to being at the Lodochnoye and Tagulskoye fields as well.Vankorneft is also continuing to drill exploration wells at the Gorchinskoye, Tagulskoye and East Pendomayakhskoye sections.The overall plan for exploration drilling includes over 22,000 meters in 2014.Between 2014 and 2019, the plan for geological exploration work including exploration drilling at more than 35 wells covering more than 135,000 meters.In 2015-2016, 2D seismic work is set to take place at the Baikalovskoye, Novoognennoye and West Suzunskoye licensed areas covering a total of over 1,000 linear kilometers.Following geological exploration work in 2013, C1 reserves at the Tagulskoye field exceeded 5 million tonnes of oil and around 3.9 billion cubic meters (bcm) of gas, and at the Suzunskoye field 4.4 million tonnes of C1.A total of four gas deposits at the Gorchinskoye field were discovered with reserves of 15.8 bcm.The Vankor project includes 17 licensed areas covering nearly 12,000 square kilometers.  Full Article

NK Rosneft' OAO and Cupet agree on cooperation at Brownfields in Cuba
Friday, 11 Jul 2014 

NK Rosneft' OAO:Says that on July 11, Head of Rosneft Igor Sechin and General Director of Union CubaPetroleo (CUPET) Juan Torres Naranjo signed in Havana the Agreement on Cooperation in the Area of Enhanced Oil Recovery at Brownfields.The document provides for the joint activities concerning comprehensive studies of field development and well production conditions in the territory of Cuba.The purpose of the studies is to identify options to optimize oil production processes, improve well stock operating efficiency and performance of enhanced oil recovery activities.  Full Article

Intesa Sanpaolo SpA, UniCredit SpA, Clessidra, Nuove Partecipazioni and NK Rosneft' OAO finalize Camfin transaction
Thursday, 10 Jul 2014 

Intesa Sanpaolo SpA:Says Intesa Sanpaolo (ISP), Unicredit (UC), Clessidra, Nuove Partecipazioni (NP) and Long-Term Investments Luxembourg, designated by NK Rosneft' OAO, finalize the Camfin transaction, relating to the acquisition of the 50 pct Camfin stake for 552.7 mln euros.Long-Term Investments Luxembourg purchased from Clessidra the entire share capital of Lauro 54 (owning a participation representing 24.06 pct of Lauro 61/Camfin share capital) and from each of ISP and UC a participation representing 12.97 pct of Lauro 61/Camfin.The shareholders' meeting of Lauro 61 and Camfin resolved upon the partial and non-proportional demerger from Camfin of the assets and liabilities not related to the Pirelli equity stake.Resolved also upon the merger by incorporation of Lauro 61 into Camfin.Says, as a result of the above acquisitions, Long-Term Investments Luxembourg has become the indirect holder (through Lauro 54 and Lauro 61) of 50 pct of Camfin share capital.The remaining 50 pct of Camfin share capital is owned by NP, ISP and UC.NP, ISP and UC have entered into a shareholders’ agreement with respect to the equity stakes held by each of them in Lauro 61/Camfin (38.78, 5.61 and 5.61 pct, respectively), corresponding to 50 pct of Camfin share capital.Says NP, ISP and UC will contribute their stakes into a newco (COINV SpA), which will become the owner of 50 pct of Camfin share capital.COINV will be owned by NP for 76 pct and by each of ISP and UC for 12 pct.  Full Article

NK Rosneft' OAO files lawsuit against Sakhalin Energy for access to Sakhalin-2 pipeline-Interfax
Tuesday, 8 Jul 2014 

NK Rosneft' OAO:Rosneft has filed a lawsuit in the Sakhalin Region arbitration court against Sakhalin Energy Investment Company Ltd-Interfax.The lawsuit filing was registered on July 7, information on the court's website shows.A source familiar with Rosneft's plans told Interfax that "in the absence of an effective response from the Federal Anti-Monopoly Service (FAS) the company did not rule out turning to the court with such lawsuits against the operator of the pipeline.".A spokesman for the oil company said Rosneft was refused access to the available capacity of the Sakhalin-2 project gas pipeline by Gazprom, the principal shareholder of Sakhalin Energy Investment Company.Rosneft believes that joint use of the capacity of the Sakhalin-2 pipeline would be the optimal solution in terms of the efficient operation of two state companies - Rosneft and Gazprom.This approach would also maximize state revenues from production sharing agreements, ensure the fulfillment of the region's social and environmental objectives and eliminate the need to build excess gas transport capacity on Sakhalin Island, the company said.Rosneft is prepared to ensure the necessary technical conditions for pressure and quality of gas, as well as make investments needed to ensure transportation of gas for a future Far East LNG plant, the company added.The company is now working with government agencies and Gazprom in order to work out a solution that would benefit all parties.  Full Article

Moody's confirms ratings of Gazprom OAO, NK Rosneft' OAO and Gazprom neft' OAO
Tuesday, 1 Jul 2014 

Gazprom OAO:Moody's Investors Service has confirmed the Baa1 ratings of the Government-related Issuers (GRI) Gazprom OAO (Gazprom) and NK Rosneft' OAO (Rosneft), and the Baa1 ratings of their respective guaranteed debt-issuing subsidiaries.Concurrently, Moody's has confirmed the Baa2 ratings of Gazprom neft' OAO, a subsidiary of Gazprom, and the Baa1 ratings of Rosneft International Holdings Limited (RIHL), a subsidiary of Rosneft, and the respective ratings of their guaranteed debt-issuing subsidiaries.The outlook on all ratings is negative.Gazprom's Prime-2 short-term rating remains unchanged.These rating actions follow Moody's confirmation of Russia's Baa1 government bond rating and assignment of a negative outlook on June 27.The confirmation of Gazprom's and Rosneft's senior unsecured issuer ratings reflects Moody's view that the companies' ratings are closely aligned with that of the sovereign, and that they remain sensitive to changes in sovereign creditworthiness.The confirmation of Gazprom Neft's Baa2 and RIHL's Baa1 senior unsecured issuer ratings reflects these companies' close operating and financial linkage with their respective parents' ratings.  Full Article

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