News
- 24 February 2012
- Rosneft Switching to IFRS Financial Reporting
Rosneft is to begin preparing its consolidated financial reporting in accordance with International Financial Reporting Standards (IFRS) starting from the first quarter of 2012. The Company previously compiled its financial reporting in accordance with US GAAP.
- 03 February 2012 17:30
- Rosneft 2011 EBITDA Reaches a Historical Peak of USD 22 Billion, Q4 Hydrocarbon Production Exceeds 2.6 mln boe
On February 3, 2012 Rosneft was the first among international oil and gas companies to publish full audited consolidated US GAAP financial statements for 2011.
- 31 January 2012 17:28
- Rosneft Q4 and 12M 2011 US GAAP Financial Results
Rosneft will publish its Q4 and 12M 2011 audited consolidated US GAAP financial results on Friday, February 3.
- 31 January 2012
- Rosneft Wins World Finance Awards for Best Annual Report and Financial Disclosure
Rosneft has been named the winner of two World Finance 2011 Investor Relations Awards for Best Annual Report and Best Financial Disclosure. The jury for the awards, which are run by World Finance, an authoritative international publication, is composed of business leaders from the world's largest consulting and auditing firms, as well as the heads of Fortune 500 investor relations departments.
- 31 January 2012
- Rosneft Obtains Licenses For Three Barents Sea Blocks
Rosneft has obtained licenses for geological survey, exploration and production of oil and gas at three blocks of federal significance on the Barents Sea shelf. The blocks are Tsentralno-Barentsevsky, Fedynsky and Perseevsky. Estimated total resources at the blocks stand at 3.3 billion tonnes of crude oil and gas condensate and up to 2,800 bcm of gas.
- 19 December 2011
- Rosneft Obtains Five New Blocks in Okhotsk Sea
By order of the government of the Russian Federation Oil Company Rosneft has been granted five blocks on the Sea of Okhotsk shelf for geological surveying, exploration and development. The five blocks are Magadan-1, 2 and 3, Lisyansky and Kashevarovsky. According to Rosneft estimates, total recoverable resources at these deposits stand at over 1.1 billion tonnes of liquid hydrocarbons and 2 trillion cubic metres of gas, including 850 million tonnes of oil and 1.789 trillion cubic metres of gas at the Magadan-1, 2 and 3 blocks.
- 12 December 2011
- Rosneft New Leader on the Far East Bunker Market
OJSC Rosneft and Sakhalin Energy have signed a long-term agreement under which Rosneft will supply bunker fuel through its terminal at the Russian port of Nakhodka to the operator of the Sakhalin-2 project. Before the Rosneft agreement was signed, Sakhalin Energy's oil tankers and LNG carriers could only use bunkering at ports in Korea, Singapore and Hong Kong. The Sakhalin Island was the first tanker to use bunkering as part of the agreement.
- 26 October 2011 17:24
- Rosneft announces Q3 2011 results: Rosneft EBITDA reaches USD 5.3 billion in Q3 2011, oil production increases by 2.9% and reaches 2.4 million barrels per day, strategic steps taken
Rosneft’s EBITDA amounted to USD 5,283 million in Q3 2011, which is an increase of 13.9% year-on-year. An increase in the tax burden, particularly due to annulment of a reduced export duty for Vankor crude and the end of Vankor MET holidays, put downward pressure on the figure. The increase was also tempered by higher transportation and electricity tariffs year-on-year.
- 26 October 2011
- Laurence Bates Appointed Business Development Advisor to the President of Rosneft
Laurence Bates, who previously served as vice president and project director in the Russian shelf division at BP, has been appointed vice president and business development advisor to the president of Rosneft.
- 29 September 2011
- Rosneft secures loan for production operations through subsidiary
LLC Neftepromleasing, leasing subsidiary of OJSC Rosneft Oil Company, signed USD 500 million term loan facility with Nordea acting as arranger and agent and Sumitomo Mitsui Banking Corporation Europe Limited as arranger. The facility is structured as a 5-year term loan facility guaranteed by Rosneft.