rosneft subsidiaries list

Rosneft was added to the SSI on July 16 2014, and was sanctioned by the EU on September 8 2014. At the same time, Rosneft itself also purchases oil and gas from its subsidiary, Yuganskneftegaz, at transfer prices. [36], In September 2010, Eduard Khudainatov replaced Sergei Bogdanchikov as CEO of the company.[37]. [46], In May 2018, it was announced that the Qatar-Glencore consortium is cancelling the plan to sell a $9.1 billion (14%) stake of Rosneft to CEFC China Energy. The German government has taken the German subsidiary of Russian oil giant Rosneft under state control, putting it into the trusteeship of the Federal Network Agency regulator. Lebedi village, place of resort of the citizens. [57] According to analysts, offshore areas are central to Rosneft's expansionist plans, and the company is looking for foreign cooperation to bring in new technology and share risks. You can also follow us on Twitter (@SteptoeIntlReg). See our previous advisories here and here for more details. According to the ruling, websites of the companies should show the personal information of their top managers such as income, property, spouses, and children. Specifically, the federal . The additions were made to ensure the efficacy of existing US sanctions on Russia. [97] In 2007, the company planned to perform hydraulic fracturing of the formation at 440 wells. The owners are opposing this in court. Registered in the Canton of Geneva, Switzerland as a trading company in January 2011, Rosneft Trading S.A. was created to assist Rosneft Oil Company in carrying out its foreign projects. [4][5], Rosneft is the third largest Russian company and the second-largest state-controlled company (after Gazprom) in Russia in terms of revenue (4,134 billion). 13850. Oil workers intend to participate in supporting natural environment of the park in future. 2. The replacement of hydrocarbon reserves of industrial categories ABC1 amounted to 354million TOE or 126% of the production in Russia. [8], In March 1996, Rosneft founded the Russian Regional Development Bank. Young professionals from Ryazan Oil Refinery took part in domestic garbage collection within the grove on Beryozovaya street, one of the top destinations among Ryazan citizens. The E.O. Rosneft and many of its subsidiaries have been sanctioned in the past and appear on the Sectoral Sanctions Identification (SSI) List. Headquarters Russia Address Sofiyskaya Naberezhnaya, 26/1, Moscow, 117997 Website www.rosneft.ru Telephone 7 499 5178899 No of Employees 334,600 Industry Energy and Utilities Ticker Symbol & Exchange ROSN (MCX) Revenue (2022) $118.9B 52.2% (2022 vs 2021) EPS XXX Net Income (2022) XXX 568.9% (2022 vs 2021) Nayara, which is 49.13 per cent owned by Rosneft, operates a 20 million tonnes-a-year oil refinery at Vadinar in Gujarat and has a growing network of petrol pumps. "[36], A group of deputies of the People's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia. Sustainable Development Support for International Sustainable Development Initiatives Mr. Energy Information Administration (EIA). The 14 parties subject to this license requirement are: 1) Private Joint-Stock Company Mako Holding; 2) Airfix Aviation Oy 3) IPP Oil Products (Cyprus) Limited 4) Open Joint Stock Company Kontsern Izhmash 5) Izhevsky Mekhanichesky Zavod JSC 6) Set Petrochemicals Oy 7) Southeast Trading Oy 8) Southport Management Services Limited September 2, 2014. [citation needed], In May 2007, Rosneft won a number of auctions for the sale of Yukos' assets, including five refineries and oil companies Tomsk Oil Company and Samara Oil and Gas Company, making it the largest oil company in Russia. http://www.rosneft.com/about/Glance/OperationalStructure/. The designations targeting VEB and Rosneft subsidiaries do not impose new restrictions, but rather are intended to assist US persons in identifying sanctioned persons; as noted above, all entities owned 50 percent or greater by VEB or Rosneft, and now of course by these newly-identified entities, are subject respectively to Directive 1 (for VEB subsidiaries) and Directives 2 and 4 (for Rosneft subsidiaries). In a statement, CARE Ratings said it has put the company's Rs 17,149.5 crore long-term bank loans and non-convertible debentures of Rs 2,541.84 crore under credit watch with negative . 35. [73][third-party source needed], According to Rosneft, the reserves increment in Western Siberia amounted to 133million tons of oil and condensate and 87billion cubic metres (8.71010 cubic metres) of natural gas. [48] The value of the deal is unknown, but ExxonMobil is expected to invest $1billion in the project. The first well could be drilled in 2012. [25] In August, Bogdanchikov said that although the Yukos acquisitions had increased Rosnefts debt to $US26 billion, he planned to reduce debt to 30% of total assets by 2010 by tripling refining capacity and expand into China. [4], Rosneft was established in 1993 as a unitary enterprise with assets previously held by Rosneftegaz, the successor to the Soviet Union's Ministry of Oil Industry. As of year-end 2010, Rosneft's total proved oil and gas reserves under PRMS classification were 22.8 billion barrels (3.62billion cubic metres) of oil equivalent, among the highest for a publicly traded petroleum company worldwide. [33][34], According to Rosneft, the company provides more than half of the retail sales of oil products in Abkhazia. [76], Prior to the initial public offering (IPO) in 2006, all of Rosneft's shares were owned by the Russian government through its holding company JSC Rosneftegaz. [7] The company operates in more than twenty countries around the world. These prohibitions apply with respect to all Crimean port operators and sea ferry operators. The company has surprised many in overcoming these constraints and by aggressively expanding its international business. On this Wikipedia the language links are at the top of the page across from the article title. Key Points. Ulyukayev, while influential, was not part of President Putin's inner circle.[89]. [50][48] According to the deal, the two companies would create an Arctic technology centre in Russia to develop technologies and engineering practices for safe arctic hydrocarbons extraction. CARACAS, Venezuela The Russian state-controlled oil firm Rosneft said Saturday it was ceasing operations in Venezuela and selling all of its assets in the country, signaling a . 13850 for operating in the oil sector of the Venezuelan economy. Your feedback is important to us. The determining factor in enhancing the role of Rosneft in the Russian oil industry has been the support of the country's top leadership. The three German refineries in which Rosneft Deutschland GmbH has a stake are among the most technically advanced facilities in Western Europe. Rather, persons on the SSI List are subject to a more calibrated set of sanctions, set out under four OFAC directives, that are intended to cut off access to certain types of financing and, in the case of designated energy companies, to also restrict access to US exports. [35] In June 2014, Rosneft extended the shelf study period to five years. In place of the former waste ground cleared by the plant employees, there will be constructed a children's playground. [citation needed], In 2005, Rosneft acquired a 25.94% stake in the company Verkhnechonskneftegaz[14] and became the leading oil company of Russia in terms of production. Five new deposits with reserves of 39million tons of oil equivalent were discovered. For the time being, it appears that the US approach is to make designations under the existing EOs and Directives, although this can change. To access the full dataset and all other index resources, In addition to it, the plant employees patronize the villages in Novokuibyshev suburbs. 13850. A number of Rosneft subsidiaries were removed from the list in Q4, 2017 in connection with the sale. [4], In February 2009, a number of agreements were negotiated between Russia and China that provided a 20-year contract for an annual supply of 15 million tons of oil between the Chinese National Petroleum Corporation (CNPC) and Rosneft, cooperation between CNPC and Transneft to construct and operate a branch of the Eastern SiberiaPacific Ocean (ESPO) oil pipeline to China, and the provision of loans for US$25 billionUS$15 billion from Rosneft and US$10 billion from Transneftby the China Development Bank on the security of supplies. See alsoFAQs 398 and 400 for information regarding dealings with blocked persons representing non-blocked entities. [59] BP will receive in exchange of its stake $12.3billion of cash and 18.5% of Rosneft's share, while ARR will receive $28billion in cash. The company explores, produces, refines, transports, and sells oil and gas. Rosneft is also among the largest natural gas producers in Russia, with a total gas production of 12.3billion cubic metres (1.231010 cubic metres) in 2010. Overview Rosneft is a company that provides hydrocarbon exploration, production, and refining and marketing services. [87], On 16 August 2010, Yukos Capital appealed to the Federal Arbitration Court of the West Siberian District with a cassation appeal against the decision of the Arbitration Court of Tomsk Oblast to refuse reclaiming from Tomskneft, a Rosneft subsidiary, more than 7 billion ($231M) under loan agreements. [71][75] In March 2020, the company stopped its operations in Venezuela and sold all of its assets in the country to another unnamed company that is owned by the Russian government. [60] According to Rosneft's CEO Igor Sechin, no discussion had been held on a buyout of minority shareholders in TNK-BP Holding. [4][27][28], The Federal Service for Financial Markets authorized the placement and circulation outside the country of a 22.5% stake in Rosneft. In addition, in 2002, the company received a license for the development of the Sakhalin-IV and Sakhalin-V project,[13] and in 2003 a license for the development of the Sakhalin-III project. You are offered better than market conditions and a significant profit. OFAC also designated to the SDN List Didier Casimiro, Rosneft Trading's Vice President for Refining, Petrochemical, Commerce and Logistics. In February 2007, they were charged again and accused of stealing $25 billion worth of oil from Yukos subsidiaries. The Russian branch of Greenpeace called Rosneft the dirtiest oil company in the world. The government has now placed two Rosneft subsidiaries under the trusteeship of Germany's energy regulator, meaning that three critical refineries are now controlled by Germany. Attorney Advertising. 2023 Steptoe & Johnson LLP. 1996-2023 Maritime Activity Reports, Inc. Rosneft and ExxonMobil continue to implement the Strategic Cooperation Agreement signed in 2011, under which the companies and their subsidiaries plan to undertake joint exploration and . Previously, on February 18, 2020, OFAC placed Rosneft Trading S.A. ("Rosneft Trading"), a Swiss subsidiary of Rosneft, on the SDN List for purchasing, transferring, brokering, and otherwise . The offer failed to attract any customers. No license exceptions are available for exports, reexports, or transfers (in-country) to these 14 parties. About 100 employees of Saratov Refinery took part in cleaning up the pine forest, place of resort of Saratov citizens. 'Russian oil'). Nevertheless, the introduction of restrictive measures against its subsidiary can be seen as a signal from the US that sanctions against the Russian entity may be tightened. The Entity List imposes a license requirement for the export, reexport, or transfer (in-country) of all items subject to the EAR to the 15 Rosneft subsidiaries when the exporter/reexporter, or transferor knows that the item will be used directly or indirectly in exploration for, or production of, oil or gas in Russian deepwater, Arctic offshore locations, or shale formations in Russia, or is unable to determine whether the item will be used in such projects. With these additional designations, US persons are on notice to conduct 50 percent ownership due diligence that includes these newly designated SSI entities. U.S. persons should be mindful of the relevant Ukraine-/Russia-related prohibitions that would be applicable as a result of dealings with both Rosneft Oil Company, Rosneft Trading S.A., and TNK Trading International S.A. See, generally,FAQs370-373, 391-396, 405-410, 412-421, and 536-538 for prohibitions on U.S. persons dealing with entities listed on the SSI List. 15 subsidiaries of Rosneft were also added to the Entity List. Edward J. Krauland represents clients on matters involving US and multilateral economic sanctions, dual use, defense and nuclear export controls, anti-money laundering (AML) compliance, anti-boycott, Meredith Rathbone counsels clients in numerous countries on achieving their business goals while ensuring compliance with US export controls and economic sanctions laws administered by the Departments OFAC Adds Rosneft and VEB Subsidiaries to SSI List, Designates Russian SDNs, Advises on Evasion, Steptoe Receives 16 Practice, 40 Individual Mentions in, Four Steptoe Lawyers Named to Lawyers of Color Law Firm Leaders Issue 2022, Virtual Internet Law and Policy Roundtable, Steptoe Continues Energy Practice Dominance with Addition of Pipeline and Energy Partner Focused on Litigation and Regulatory Counseling, Steptoe Bolsters Government Affairs & Public Policy Practice with Addition of Partner and former Twitter Deputy General Counsel Tod Cohen, Steptoe Expands Commercial Litigation Practice with Addition of Three Nationally-Recognized Partners Focused on Advertising, Telemarketing, and Consumer Protection Law, Steptoe Named to WILEF 2022 Gold Standard Certification List, Steptoe Announces Partner and Counsel Promotions for January 1, 2023, Izhevsky Mekhanichesky Zavod JSC (aka Baikal), State Enterprise Kerch Sea Commercial Port, State Enterprise Sevastopol Sea Trading Port, State Enterprise Feodosia Sea Trading Port, State Enterprise Evpatoria Sea Commercial Port, Development Corporation of North Caucus OJSC, Russian Export-Import Bank (EXIM Bank of Russia), Far East and Baikal Region Development Fund OJSC, Russian Direct Investment Fund Management Company. In 2016, the total incremental 4.8billion cubic metres (4.8109 cubic metres) of gas. Fourteen Russian subsidiaries of Rosneft and two . [9][10], Rosneft struggled financially and operationally during the 1998 Russian financial crisis with decreased production due to poor assets and decreased retail sales with an underused refining capacity. However, the Arbitration Court of Tomsk Oblast, having considered the claim, ruled to refuse Yukos Capital in debt collection.[88]. [38], In the summer of 2012, Rosneft purchased a fuel oil terminal from the United Shipbuilding Corporation (USC) located on the territory of the Murmansk Ship Repair Plant No. However, this did not prevent the company from providing information regarding the incomes and property of Rosneft's top managers and their relatives to "competent authorities" in the prescribed "time and amount". Rosneft undertook exploration on the shelf in the Ochamchira area, discovering preliminary reserves estimated at 200 million to 500 million tons of oil equivalent. The newly designated entities, along with all other entities owned 50 percent or more by VEB or Rosneft, already were subject to sectoral sanctions (described below) pursuant to OFACs 50 percent rule. OFAC added the following individuals to the SDN List pursuant to EO 13660: OFAC also added Private Joint-Stock Company Mako Holding to the SDN List pursuant to EO 13660 for being owned or controlled by, or acting or purporting to acting for or on behalf of Oleksandr Yakukovych. The state-owned Russian company Rosneft - the parent company in Moscow and a subsidiary in Luxembourg - is complaining that the federal government took control of the two German subsidiaries Rosneft Deutschland GmbH and RN Refining & Marketing GmbH in September 2022. At the same time, the composition of the beneficiaries were not disclosed as it was known that the oil company had previously committed to pay $180 million for the right to be the general sponsor of the 2014 Winter Olympics in Sochi. The ownership structure includes a Cayman Islands company, QHG Cayman Limited, whose ownership can not be traced. Ulyukayev was seen as an economic liberal, Igor Sechin is viewed as a hawk, who supports greater state control over the economy. This document is part of the source library for NRGI's 2017 Resource Governance Index, a comprehensive measure of the quality of natural resource governance in oil, gas and mineral-rich countries. 30 Rosneft Subsidiaries in All-Russian Environmental Cleanup Day By Joseph R. Fonseca September 2, 2014 Thirty Rosneft subsidiaries in most of the regions of the Company presence, from Sakhalin. Under Directive 1, as amended, US persons are prohibited from transacting or dealing in new debt with a maturity of 30 days or new equity issued by an entity on the SSI List. TheFederal Registernotice is available here:http://www.gpo.gov/fdsys/pkg/FR-2015-09-02/pdf/2015-21682.pdf. Note that the license requirement applies toallitems subject to the EAR and not only to the items specified in Part 746.5(a). April 29 (Reuters) - Russian oil giant Rosneft (ROSN.MM) is not scheduled to export any diesel from the Baltic port of Primorsk in May as demand from Europe was set to decline amid tightening . [29], Rosneft announced a placement value of US$5.857.85 per share and global depository receipt (GDR), based on the company's capitalization after consolidation of US$6080 billion. 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