By Joseph R. Fonseca From 2009 to 2010, Rosneft remains one of the largest customers of the oilfield services company Schlumberger, which specializes in hydraulic fracturing. 49.4% of the total IPO volume accounted for four investors, including BP for US$1 billion, Petronas for US$1.5 billion, and the CNPC for $0.5 billion. Scheme of Rosneft's subsidiaries. [12] The company owned two obsolete refineries and several low-productive and poorly managed oil-producing assets. We work with innovative agents of change within government ministries, civil society, the media, legislatures, the private sector, and international institutions to promote accountable and effective governance in the extractive industries. 1.4.9d: Does the SOE publicly disclosea list of its subsidiaries? On December 15 2017, a Moscow court sentenced Alexei Ulyukayev, a former Russian economy minister to paying 130M ($2.2M) and eight years in a penal colony for bribery and corruption. [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. The main activities of JSC Samotlorneftegaz, which owns 9 license areas, are exploration and development of oil and gas fields, drilling of parametric, prospecting, exploration and production wells, production, preparation, processing, transportation and sale of hydrocarbon raw materials, development of oil and gas fields. Oil workers intend to participate in supporting natural environment of the park in future. [4], On 26 May 2009, a five-year cooperation agreement was negotiated between Rosneft and the Abkhazia's Ministry of Economy. [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. US persons are required to freeze and report to OFAC all property and interests in property of these SDNs that are in their possession or control, and also are generally restricted from engaging in any transactions or dealings with the SDNs. General License 36Aauthorizes U.S. persons to engage in certain activities prohibited by E.O. In the late 1990s, plans for Rosneft's privatization in Russia were made, but due to competition with equally influential pretenders, they were not carried out. 13850 necessary for the wind down of transactions involving Rosneft Trading S.A. or TNK Trading International S.A., or any entity in which Rosneft Trading S.A. or TNK Trading International S.A. owns, directly or indirectly, a 50 percent or greater interest, through 12:01 a.m. eastern daylight time, May 20, 2020. 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. Rosneft is also second-to-none in terms of total proved liquid hydrocarbon reserves. On February 18, 2020, OFAC designated Rosneft Trading S.A. pursuant to E.O. At the moment, Rosneft is under sectoral sanctions only. bp will no longer report reserves, production or profit for Rosneft. . OFAC added 18 majority-owned subsidiaries of VEB and 17 majority-owned subsidiaries of Rosneft to the SSI List pursuant to EO 13662. In place of the former waste ground cleared by the plant employees, there will be constructed a children's playground. US Government Adds Rosneft's Swiss Subsidiary to the SDN List under Venezuela-related Sanctions Program - Sanctions & Export Controls Update US Government Adds Rosneft's Swiss Subsidiary to the SDN List under Venezuela-related Sanctions Program February 24, 2020 By Andrea Tovar, Eunkyung Kim Shin and Paul Amberg 4 Mins Read It is important to note that entities not designated by OFAC, but nonetheless owned 50 percent or more by VEB, Rosneft, or other sanctioned persons, are subject to restrictions. According to experts on the Russian newspaper Vedomosti, the assets of Yukos, bought by Rosneft at auction organized by the state, went to the company at a discount of 43.4% of the market price of this property. Energy Information Administration (EIA). ONGC Videsh has developed strong partnership alliance with a host of IOCs and NOCs including ExxonMobil, British Petroleum, Shell, ENI, Total, Repsol, Equinor, MOL, Petrobras, Sodeco, AzACG, Rosneft, ADNOC, Posco International, Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas and Ecopetrol. To access the full dataset and all other index resources, OFAC also issued an advisory regarding certain practices used to circumvent or evade US sanctions involving Crimea. - Advertisement -. [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. [93][94] The Hydrometeorological Centre of Russia has estimated that 4.5m tonnes of oil are spilled on the Russian mainland every year, that's seven times the BP Deepwater Horizon spill in the Gulf of Mexico in 2010. A senior administration official said that the designation of Rosneft Trading S.A., a subsidiary of the Russia's Rosneft Oil Company, was "another major step forward toward achieving maximum . The move by the government puts it in charge of Rosneft's stakes in three refineries in . 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 . Rosneft is the largest refining company in the Russian Federation. In 2011, according to a survey conducted by the Federal Service for Supervision in the Sphere of Nature Management (Rosprirodnadzor) in Khanty-Mansi Autonomous Okrug, Rosneft allowed 2,727 oil spills, which is 75% of the total number of spills that occurs under the company. Rosneft: Contributing to Implementation of UN Sustainable Development Goals ESG Equity For Insiders Shareholder's Personal Account General shareholders' meeting Dividends Questions and answers for shareholders Investor tools Contacts Beware of fraud! Rosneft and many of its subsidiaries have been sanctioned in the past and appear on the Sectoral Sanctions Identification (SSI) List. However, the Arbitration Court of Tomsk Oblast, having considered the claim, ruled to refuse Yukos Capital in debt collection.[88]. [17], When the Great Recession struck Russia in late 2008, Rosneft was able to endure the economic pains by improving and strengthening business lines, management, and transparency, and as a result, became a leading oil company domestically and internationally. [39], In October 2016, Rosneft bought a 49% stake in Essar Oil of India, along with Russian investment fund United Capital, in a deal worth $13 billion. 13850 from dealing with Rosneft Oil Company, its non-blocked subsidiaries, or non-blocked affiliates to the extent the proposed dealings do not involve any blocked persons or any other activities prohibited pursuant to any OFAC sanctions authorities. 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. [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. During the early 1990s, almost all Russian oil companies and refineries were extracted from Rosneft to form ten integrated companies. [40], On 7 December 2016, Rosneft signed a deal to sell 19.5% of the outstanding shares, or roughly US$11 billion, to the Anglo-Swiss multinational commodity trader Glencore and the Qatar Investment Authority. In Eastern Siberia and the Far East, the total increase in reserves amounted to 21.2million tons of oil and condensate and 29billion cubic metres (2.91010 cubic metres) of gas. The integrated management control system of industrial safety, work safety, and environment certificated against international standards OHSAS 18001:2007 and ISO 14001:2004 successfully operates in Rosneft. During this year event, 40 employees of Samaraneftegaz cleaned up the territories adjacent to the recreational area, mounted benches, and fixed hard landscaping. By the end of 2020, Rosneft's total . 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. As Rosneft Oil Company, Rosneft Trading S.A., and TNK Trading International S.A. have been listed on the SSI List since July 2014, July 2015, and March 2020 respectively, they are subject to Ukraine-/Russia-related Directives 2 and 4. [61] The deal was completed on 20 March 2013. [96] However, in early November 2006, a number of journalists pointed out that the Priobskoye oil field of which it is owned by RN-Yuganskneftegaz, a subsidiary of Rosneft acquired from Yukos, produced the largest oil fracture in Russia with specialists of Newco Well Service. [74] Rosneft is the second largest national oil company by retail network, which covers 41regions of Russia and includes 1,800filling stations. Fourteen Russian subsidiaries of Rosneft and two . At least 13 flights went. The 29 parties are located in the Crimea region of Ukraine, Cyprus, Finland, Romania, Romania, Russia, Switzerland, Ukraine, and the United Kingdom (British Virgin Islands). [42] After the transaction, Rosneft's holding company Rosneftegaz retained 50% + 1 share of the company. The company explores, produces, refines, transports, and sells oil and gas. [90] The 61-year-old claimed that Sechin had lured him to Rosneft's offices, where he was subsequently caught red-handed by the authorities with a bag of bribe money. [8], In March 1996, Rosneft founded the Russian Regional Development Bank. Your feedback is important to us. countries. [33][34], According to Rosneft, the company provides more than half of the retail sales of oil products in Abkhazia. Part of the shares were distributed among the Russian population through banks such as Sberbank and Gazprombank. It also involves in refining, transportation, and sale of petroleum products. In 2019, utilizing flight-tracking databases, Reuters identified dozens of flights by Rosneft jets over a four-year period that flew during Russian holidays or weekends. "[36], A group of deputies of the People's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia. The significant step was to sign a Declaration on Protection of the Environment and Biodiversity for Oil and Gas Exploration and Development on the Russian Arctic Continental Shelf prepared at the initiative of Rosneft in cooperation with its partners, such leading world energy companies as Statoil, ExxonMobil, and Eni. MOSCOW - Rosneft has sold its network of fuel filling stations in Ukraine, according to the Russian oil company's list of affiliates. The additions were made to ensure the efficacy of existing US sanctions on Russia. [30], On 14 July, the official results of the placement value were announced. The newly designated port or sea ferry operators are now also subject to an asset freeze, and US persons are prohibited from dealing with them, including participating in any way with offshore transactions involving the port and identified ferry operators. Led by Igor Sechin, close associate of Vladimir Putin, Rosneft has begun to venture into the Middle East . [51] AAR, which represents four billionaires of Russian origin and is BP's Russian partner in the TNK-BP joint venture, blocked the BPRosneft deal in international courts, arguing it breached earlier contracts between BP and AAR. [45], On 26 September 2017, the Russian government controversially approved the former German chancellor Gerhard Schrder as chairman of Rosneft. Besides, Ryazan Oil Refinery has been taking part in domestic garbage collection and green planting organization on city centre streets for 12 years. With the dissolution of the consortium, the Qatar Investment Authority purchased the shares instead, thereby solidifying its position as one of the biggest shareholders (19%) of Rosneft. [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. natural resource governance in oil, gas and mineral-rich Rosneft's subsidiaries play an important role in Venezuela's oil sector. [86], On August 9 2010, a former subsidiary of Yukos, Yukos Capital Sarl of Luxembourg, was seeking to have Rosneft repay the debts of companies that previously belonged to Yukos. For example, the following information can be obscured in order to evade or circumvent US sanctions involving Crimea: (i) originator or beneficiary address information from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) messages involving persons or entities in Crimea; or (ii) references to Crimea in trade related documentations by, for example, listing Crimean counterparties as being located in Russia rather than in Ukraine. The Company is implementing Health, Safety and Environmental Policy, which in particular provides for increase of industrial and environmental safety of the Company production sites to the level complying with the best rates of world oil companies, constant development of the control system in the region of ISLPE, and decrease of industrial risks from newly introduced objects. State holding company Rosneftegaz has lowered its 50.33% direct stake to 40.4% with subsidiary RN-NeftKapitalInvest taking 9.6% and Rosneft unit RN-Capital 0.33%. 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". The company is controlled by the Russian government through the Rosneftegaz holding company. Including a broad list of search terms covering major geographic locations (including cities and ports) in Crimea and not simply references to Crimea in transaction monitoring systems; Requesting additional information from parties with a history of violating or attempting to violate US sanctions on Crimea; and. [69], Rosneft's daily average crude oil production in 2010 increased by 6.4%, to 2.3 million barrels (370thousand cubic metres). In 2016, the total incremental 4.8billion cubic metres (4.8109 cubic metres) of gas. [63], The week beginning 19 April 2022, Rosneft attempted to sell millions of barrels of Urals, one of three main export-grade crude oils sold by Russia. Since the beginning of the year, with the use of specialized machinery they have collected and removed 70 tones of litter. Federal representatives countered that the measure was legal. [66], The Trump administration expanded further sanctions on its Swiss-incorporated company (Rosneft Trading S.A.) and its president Didier Casimiro on 18 February 2020, for supporting Venezuela's Nicols Maduro regime by operating in the oil sector of the Venezuelan economy. [18][19][20], Starting in 2004, the Russian government organized a series of auctions to sell the assets of Yukos Oil Company, of which Rosneft won the majority. In addition to drilling and creating its own sales network, Rosneft also planned the construction of mini-refineries in Abkhazia. Rosneft is already on the Entity List and is an entity identified on OFACs Sectoral Sanctions Identifications List. The replacement of hydrocarbon reserves of industrial categories ABC1 amounted to 354million TOE or 126% of the production in Russia. It was planned to place shares for at least US$8.5 billion in order to repay loans to Western banks, including interest and taxes. [60] According to Rosneft's CEO Igor Sechin, no discussion had been held on a buyout of minority shareholders in TNK-BP Holding. OFAC identified certain practices from the financial and international trade sectors that are intended to omit or obfuscate references to Crimea and locations within Crimea. Rosneft Trading S.A. is a subsidiary of the Russian state-controlled global energy giant Rosneft Oil Company. Rosneft Deutschland . After acquiring OJSC TNK-BP in 2013, then one of the largest oil companies of Russia, Rosneft became the world's largest publicly traded petroleum company. According to the ruling, websites of the companies should show the personal information of their top managers such as income, property, spouses, and children. The proceedings could also affect consumers in Germany: If the court upholds . Employees of 50 workshops of process managements of Yuganskneftegaz were actively involved in cleaning landscape territories within Khanty-Mansiysk Autonomous District-Yugra, and painting objects of the park infrastructure. 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. The Company's refineries in Russia refined 93.0 mmt in 2020. Finally, the Crimea sanctions advisory is intended to assist the public in conducting reasonable due diligence and detecting sanctions evasion, and could portend future OFAC guidance regarding sanctions evasion generally. While entities owned 50 percent or more by these newly designated entities already were subject to sanctions under the 50 percent rule because of VEBs or Rosnefts ownership interest see OFAC FAQ #401 the new designations add clarity. [48], On 15 January 2011, Rosneft and British Petroleum (BP) announced a deal to develop the East-Prinovozemelsky field on the Russian arctic shelf between the Yamal Peninsula and Novaya Zemlya island. [91] According to investigators, Ulyukayev, who was still economy minister at the time of his arrest, had taken the $2M bribe in exchange for permitting Rosneft's acquisition of a stake in Bashneft. Help us to improve ResourceData.org by taking a short After the seizure of Rosneft's assets in the United Kingdom and the denial of an appeal by the Supreme Court of the Netherlands, Rosneft said that Yukos Capital paid Yuganskneftegaz its debt of 12.9 billion ($426M). As Rosneft Trading S.A. and TNK Trading International S.A. are also identified on the Sectoral Sanctions Identifications List (SSI List) pursuant to Directives 2 and 4 to E.O. The announced amount could increase by another US$400 million if the global placement coordinators realize the option of buying another 53 million GDRs of Rosneft at the price of placement within 30 days. Vagit Y. Alekperov: The founder of major Russian oil company Lukoik. OFAC also added 35 entities in Russia and Ukraine, all subsidiaries of Vnesheconombank (VEB) and Rosneft, to its Sectoral Sanctions Identifications List (SSI List). Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week. The fine was imposed for the abuse of power in the petroleum market recorded in the first half of 2009, which was expressed in the "seizure of goods from circulation, which led to higher prices in the wholesale segment of the oil products market, creating discriminatory conditions for the sale of oil products to individual counter-parties." Likewise, on March 12, 2020, OFAC designated TNK Trading International S.A. pursuant to E.O. a comprehensive measure of the quality of 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 . At the oral hearing, Rosneft's lawyers requested that the trusteeship of the subsidiaries Rosneft Germany and RN Refining & Marketing, which had been ordered in September, be lifted. The German government has placed German Rosneft subsidiariesRosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)under fiduciary management. 13850 for operating in the oil sector of the Venezuelan economy. The parties stated their intention to develop mutually beneficial cooperation in areas as geological prospecting, development of oil and gas fields, production of hydrocarbons, and sale of oil, natural gas and oil products. The head of Rosneft's Norwegian subsidiary points to the North Sea where Norway and Great Britain for nearly five decades have drilled for oil, but where standards are still very different. [6] Internationally, it is one of the largest oil companies, ranking 24 in terms of revenue. Most of them are unorganized tourists, who unfortunately damage the park by litter. OFAC added VEB and Rosneft to the SSI. 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. [7] The company operates in more than twenty countries around the world. [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. We use cookies on this website to improve the user experience. OFAC also designated to the SDN List Didier Casimiro, Rosneft Trading's Vice President for Refining, Petrochemical, Commerce and Logistics. Entities that are 50 percent or more owned by one or a combination of specially designated nations are also subject to these sanctions. Rosneft is engaged in exploration and production across all key oil and gas regions of Russia: Western Siberia, Southern and Central Russia, Timan-Pechora, Eastern Siberia, the Far East, and the shelf of Russia's Arctic Ocean. [105], On February 18, 2020, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) added Rosneft Trading S.A., a Swiss subsidiary of Rosneft, and its president Didier Casimiro to the Specially Designated Nationals (SDN) list. 37prospecting and exploration wells tests were completed with a success rate of 89%. Supporters of the bill demanded the prohibition of the development of the offshore shelf in Abkhazia for 30 years. 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. OFAC added VEB and Rosneft to the SSI List in July 2014. After the placement of the company's shares on the stock exchange and the consolidation of shares of 12 subsidiaries (including Yuganskneftegaz) of Rosneft, the share of Rosneftegaz decreased to 75.16%. [103] Rosneft was added to the SSI on July 16 2014,[104] and was sanctioned by the EU on September 8 2014. Individuals submitted applications for the purchase of 99,431,775 shares of the oil company, and as a result, most of the new shareholders were individuals; partly because of this IPO was given the unofficial name of "people's. The event was accompanied by musical bands performances. Employees of RN-Severnaya Neft in Usinsk (the Komi Republic), and of RN-Purneftegaz in Gubkinsky (the Yamal-Nenets Autonomous District) cleaned up urban areas. Total crude oil output reached 847.4 million barrels (134.73million cubic metres) of oil and gas condensate. In 2007, the former assets of Yukos provided 72.6% of oil and gas condensate production and 74.2% of Rosneft's primary refining. In July 1998 the Russian government tried to sell Rosneft, but it failed. The Natural Resource Governance Institute (NRGI) helps people to realize the benefits of their countries endowments of oil, gas and minerals. On 22 December 2004, Rosneft had purchased Baikal Finance Group which bought Yuganskneftegaz (Yugansk), a main asset of Yukos, three days earlier at a state-run auction for US$9.35 billion to satisfy tax debts. [49][48] As part of the deal Rosneft was to receive 5% of BP's shares, worth approximately $7.8billion, as of January 2011 and BP would get approximately 9.5% of Rosneft's shares in exchange. 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 . New business models are being adopted in the marine industry to increase efficiency, minimize risks, lower costs while ideally minimizing carbon footprint at the same time. [4][15], In 2007, the company for the first time entered the annual list of one hundred most respected firms and companies in the world according to the weekly Barron's, in 99th place. Both bp-nominated directors to resign from Rosneft board with immediate effect. 'Russian oil'). [98], On 20 March 2014, the United States government sanctioned Rosneft CEO Igor Sechin in response to the Russian government's role in the ongoing unrest in Ukraine. And Gazprombank May 2009, a five-year cooperation agreement was negotiated between Rosneft and many of subsidiaries... E-News is the largest refining company in the oil sector of the Venezuelan.! One or a combination of specially designated nations are also subject to these.... Former waste ground cleared by the end of 2020, OFAC designated TNK International... And most authoritative ENews Service, delivered to your Email five times per week of petroleum.! 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