Contents tagged with Rosneft

  • Putin sends birthday wishes to former German Chancellor Gerhard Schroeder

    President Vladimir Putin sent birthday wishes to former German Chancellor and Chairman of the Board of Directors of Russian oil giant Rosneft, Gerhard Schroeder, on his 75th anniversary, said Putin’s press secretary Dmitry Peskov as quoted by  TASS.

    Peskov noted that Putin called Schröder and wished him success.

    Putin and Schroeder has maintained friendly relations from the time Schroeder served as chancellor of Germany. Schroeder also chairs the Nord Stream AG shareholder committee and sided …

  • Fund of Putin’s daughter receives $430,000 from Russian oil giant Rosneft

    The National Intellectual Development Foundation, headed by Vladimir Putin’s daughter Yekaterina Tikhonova, won the Rosneft tender for patent research, reported MBH-media.

    The value of the contract is 28 million rubles ($430, 000 USD).

    According to Rosneft’s request the patent research is to be conducted by "taking into account the priorities of the company's innovation activities."

    In the summer of 2018, the RBC news agency reported that the National Intellectual Development Foundation …

  • Russian oil conglomerate Rosneft threatens to sue Washington after US accuses it of buying Venezuelan oil

    Rosneft has responded to the accusations voiced by US Secretary of State Mike Pompeo that the Russian company is buying oil from Venezuela in contravention of the sanctions. The response was published on the official Rosneft website.

    “Rosneft is assessing the consequences of the statements made by US officials, and if damage is identified, it will seek to protect its rights in accordance with the standards of international law,” the document states.

    The Russian oil company emphasizes that it …

  • Russian oil giant Rosneft reports losses in Venezuela

    In its annual IFRS report and presentation on Tuesday, the Russian energy company Rosneft reported that it has a total of $4.4 billion invested in the Venezuelan economy as of the start of 2019.

    $2.3 billion, more than half of the total, is in the form of loans to the Venezuelan state-owned oil company PDVSA, which have been issued since 2014 as prepayments for oil.

    PDVSA has received a total of roughly $6.5 billion from Rosneft, although two thirds of this debt has already been paid off. …

  • Kyiv: Ukraine has to continue buying Belarusian fuel made from Russian oil

    Kyiv purchases from Belarus fuel made from Russian oil, said Heorhiy Tuka, Deputy Minister for Temporarily Occupied Territories and Internally Displaced Persons, on the 112 Ukraine TV channel.

    “We have to buy from Belarus a large amount of fuel that is used by the entire country. Belarus, undoubtedly, produces it from Russian oil, but it is still profitable for us,” he said.

    According to Tuka, an alternative way for Ukraine implies buying fuel made from European oil, but he expressed doubts …

  • Kazakhstan raises the price for Russian oil transit to China

    Kazakhstan has increased the cost of oil transportation from Russian through Kazakhstan to China by a third, reported Tengrinews.kz with reference to the press service of the KazTransOil JSC.

    “By the order of the Minister of Energy of the Republic of Kazakhstan, Kazakhstan approved the cost of transportation of oil amounting to 10 million tons per year along the Russian border - the border of Kazakhstan (Priirtyshsk) – Atasu (Kazakhstan) - Alashankou (China) route. The transportation of one …

  • Russia joins in sanctions against Iran

    Rosneft has decided not to participate in the oil extraction projects in Iran that were announced last year, anticipating $30 billion in investments and the production of 55 million tons of oil per year.

    The strategic projects concerning a range of oil and gas deposits that were put on the road map and signed at the end of last year have now been put on the shelf due to US sanctions, Vedomosti reports, citing senior managers in the Russian state company.

    According to one of the managers, …

  • Putin hands over to Chechnya an oil company at Kadyrov’s request

    Russian President Vladimir Putin signed a decree to transfer all shares of the public joint-stock company Chechenneftekhimprom to the Chechen Republic, which has been under Russian state ownership. Chechen leader Ramzan Kadyrov had asked in 2015 about transferring the company to Chechnya.

    Putin’s decree was published on the Internet portal of legal information. It states that the decision has been made regardig the proposal of the Chechen and Russian governments “in order to develop industrial …

  • Russia's oil conglomerate Rosneft increases advance payment to Kurdistan to $2.1 billion

    In 2017 Rosneft issued the Kurdistan government an advance of $2.1 billion (122 billion rubles at the official exchange rate at the time) as part of a contract to buy oil, the company stated in an annual report according to IFRS standards.

    This is 60% more than was previously thought: in November 2017 Rosneft reported that it had given Kurdistan an advance of $1.3 billion for supplying oil.

    In February 2017, Rosneft announced that it had signed a contract with Kurdistan’s government to buy …

  • Italian Eni suspends project with Russian oil conglomerate Rosneft due to US sanctions

    The Italian company Eni has suspended its joint drilling with Rosneft in the Black Sea due to the threat of new US sanctions, and is awaiting clarification from the US. A statement to this effect was made by Chairwoman of the Board Emma Marcegaglia at a session of the World Economic Forum in Davos.

    “We began drilling in the Black Sea with Rosneft. You know, new sanctions are expected from the US. Of course, before beginning the project, we investigated carefully and, of course, asked for US …