rosneft subsidiaries list

Ulyukayev retorted that the "fabricated" accusations of bribery were "based solely on Sechin's claims," and that the whole exchange had been engineered by the Russian Federal Security Service, the successor of the KGB. [21], The purchase of Yugansk in 2005[23] greatly increase the number of assets and production for Rosneft. In this case, sanctions are likely to cause more serious damage to the Russian company. 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. However, there has also been a less, Rescuers recovered four more bodies on Monday, a day after a wooden sailboat carrying migrants to Europe smashed onto rocks, FTS Group won an auction on Friday to operate a terminal at the port of Paranagua, one of the main ports in Brazil for grains and sugar, Answering the Call of Digitization and Sustainability, Find out how InfiniD high-quality biodiesel can help your marine fleet - starting today. 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. According to the ruling, websites of the companies should show the personal information of their top managers such as income, property, spouses, and children. 2. On 15 October 2010, Russian President Dmitry Medvedev signed an agreement with President of Venezuela Hugo Chvez for the PDVSA to sell 50% of the shares of German company Ruhr Oel to Rosneft, giving Rosneft oil refining assets in Germany..mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:#d33}.mw-parser-output .cs1-visible-error{color:#d33}.mw-parser-output .cs1-maint{display:none;color:#3a3;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}"Stake in Ruhr Oel GmbH". Clearly communicating US sanctions obligations (including ban on exports and reexports from the United States to Crimea) and related compliance expectations with foreign financial and trade partners. 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. By December 2016, the number of individual shareholders was 138,000, with Rosneftegaz owning only 50% of the shares, BP owning 19.75%, and 30.25% owned by other shareholders. About 100 employees of Saratov Refinery took part in cleaning up the pine forest, place of resort of Saratov citizens. The company also accounts for 6% of global oil production. Rosneft's subsidiaries play an important role in Venezuela's oil sector. 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. [67][68], In March 2022, as a result of the 2022 Russian invasion of Ukraine the EU imposed sanctions on Rosneft. Blocking sanctions do not apply to these entities ultimate parent, Rosneft Oil Company. [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. Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week. this operation was directed by Russian authorities in order to nationalize Russia's oil and gas industry. Rosneft owns as well a 50% stake in Ruhr Oel GmbH,[72] the owner of stakes in four refineries in Germany with overall capacity of 23.2million tonnes. 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 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." No license exceptions are available for exports, reexports, or transfers (in-country) to these 14 parties. After the expiration of this authorization, unless exempt or authorized by OFAC, U.S. persons will be prohibited from engaging in transactions with 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, and must block property or interests in property of Rosneft Trading S.A. and TNK Trading International S.A. that are in, or come within, the United States, or the possession or control of a U.S. person. In place of the former waste ground cleared by the plant employees, there will be constructed a children's playground. [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. The proceedings could also affect consumers in Germany: If the court upholds . 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. [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. Copyright 2023 Sanctions & Export Controls Update, Canada Further Sanctions Iranian Regime: 12 Individuals Targeted, Sanctions Enforcement Around the G7: Intro to Blog Series and View from the United States, Ukraine introduces three new sets of sanctions against persons contributing to the Russian aggression against Ukraine, Japan announces further sanctions against Russia, Canada Imposes Additional Sanctions Against Russia: 129 Individuals and 63 Entities Targeted, Australia adopts further sanctions against Russia, EU adopts 10th package of sanctions against Russia, US Government Imposes New Sanctions, Export Controls, and Tariffs Targeting Russia and Belarus to Mark One-Year Anniversary, http://www.gpo.gov/fdsys/pkg/FR-2015-09-02/pdf/2015-21682.pdf, OFAC Issues Amended Russia-Related General Licenses and Related FAQs, US President Signs Two Bills with Implications for Sanctions, Export Controls, and Related Subjects, OFAC Designates Major Russian Financial Institutions and Issues New and Amended Russia-Related General Licenses; New FAQs, License requirement for all items subject to the EAR, License requirement for all items subject to the EAR when used in projects specified in EAR Part 746.5 (i.e., the Russian Industry Sector Sanctions). In 2014, a debt of 3.5 billion rubles ($53.3 million) was added to the company's creditors demands list. The majority of revenue is generated from its oil segment, where crude and refined products are sold to international and domestic markets. 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. countries. 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. survey. [52] The TNK-BP partners had previously signed a shareholding agreement which stipulated that their Russian joint venture would be the primary corporate vehicle for BP's oil and gas operations in Russia. Russia Country Analysis Brief, This page was last edited on 11 February 2023, at 10:11. This could also have consequences for consumers. On 2 September 2015, the US Commerce Departments Bureau of Industry and Security (BIS) amended the Export Administration Regulations (EAR) to add 29 parties to the Entity List for violating international law and fueling the conflict in eastern Ukraine. Rosneft and many of its subsidiaries have been sanctioned in the past and appear on the Sectoral Sanctions Identification (SSI) List. [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. According to Kommersant, the Murmansk terminal can be used as a platform for Rosneft's activities in the Arctic. The 15 parties subject to this license requirement are: Ms. Test advices clients on issues relating to licensing, regulatory interpretations, enforcement actions, internal investigations and compliance audits, as well as the design, implementation and administration of compliance programs. 37prospecting and exploration wells tests were completed with a success rate of 89%. [53] On 30 August 2011, Rosneft announced that instead of BP the partner for EPNZ-1, EPNZ-2 and EPNZ-3 in the Kara Sea will be ExxonMobil. 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. - Advertisement -. The first use of the name Rosneft dates back to the late 19th century, when exploration of oil fields in Sakhalin began in 1889. [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. OFAC added VEB and Rosneft to the SSI List in July 2014. However, Rosneft refused to publish its information of top managers, citing that it is only applicable to "state companies (corporations) and other organizations created by federal laws," to which it does not believe itself to be. Attorney Advertising. In 2007, the former assets of Yukos provided 72.6% of oil and gas condensate production and 74.2% of Rosneft's primary refining. [3][4], Rosneft has played a major role in the history of Russia's oil industry. Supporters of the bill demanded the prohibition of the development of the offshore shelf in Abkhazia for 30 years. This document is part of the source library for NRGI's 2017 Resource Governance Index, In exchange, subject to approval by U.S. regulators, in addition to a share in oil production in Russian fields, Rosneft was granted participation in U.S. fields in Texas and the Gulf of Mexico. The sanctions include a travel ban to the United States, freezing of all assets of Sechin in the United States and a ban on business transactions between American citizens and corporations and Sechin and businesses he owns. 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. See our previous advisory. The Company's refineries in Russia refined 93.0 mmt in 2020. Rosneft. On February 18, 2020, OFAC designated Rosneft Trading S.A. pursuant to E.O. [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. [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. 11 exploration well tests were completed with a success rate of 55%. [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. Mr. Total crude oil output reached 847.4 million barrels (134.73million cubic metres) of oil and gas condensate. 1996-2023 Maritime Activity Reports, Inc. [83], Since 2012, Rosneft, along with Gazprom, is the title sponsor of the association football team FC Tom Tomsk based in Tomsk. "[36], A group of deputies of the People's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia. [56] The deal also contains options for additional cooperation, such as extended exploration and production, deliveries to Rosneft's oil refinery in Tuapse, development of transport infrastructure and research on offshore oil production technologies. "Taking a rig from the British sector to the Norwegian sector requires a set of modifications." [30], On 14 July, the official results of the placement value were announced. Shares were priced at US$7.55, almost at the upper end of the price band, resulting in Rosneft's capitalizationtaking into account the upcoming consolidation of its subsidiariesat a value of US$79.8 billion, making Rosneft surpass Lukoil as the largest oil company in Russia. 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. Rosneft and Rosneft Trading have been named on the Sectoral Sanctions Identification List (the "SSI List") since 2014 and 2015, respectively. [35] In June 2014, Rosneft extended the shelf study period to five years. 13850 blocking sanctions apply only to Rosneft Trading S.A. and 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. [85], In October 2009, the Federal Antimonopoly Service (FAS) imposed on Rosneft a record fine of 5.3 billion ($175M) for violating anti-monopoly legislation. By Joseph R. Fonseca [65], On 16 July 2014, the Obama administration imposed sanctions through the US Department of Treasury's Office of Foreign Assets Control (OFAC) by adding Rosneft and other entities to the Sectoral Sanctions List (SSL) in retaliation for the annexation of the Crimean Peninsula by the Kremlin and the ongoing Russian interference in Ukraine. In 2016, the total incremental 4.8billion cubic metres (4.8109 cubic metres) of gas. Energy Information Administration (EIA). OFAC has added the following entities that are owned 50 percent or more by VEB to the SSI List subject to Directive 1: Directive 2, as amended, prohibits US persons from transacting or dealing in new debt with a maturity of more than 90 days issued by a person on the SSI List. Both bp-nominated directors to resign from Rosneft board with immediate effect. The refineries are able to process about 45% of crude oil produced by Rosneft as a whole. The German government has placed German Rosneft subsidiariesRosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)under fiduciary management. In the following years, in addition to litter collection, employees of the major oil producing enterprise in the region have planted about 350 trees. 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 three German refineries in which Rosneft Deutschland GmbH has a stake are among the most technically advanced facilities in Western Europe. OFAC has authorized a wind down period for both companies through 12:01 a.m. U.S. Eastern Time on May 20, 2020. Besides, Ryazan Oil Refinery has been taking part in domestic garbage collection and green planting organization on city centre streets for 12 years. On 29 September 1995, an Order of the Government of Russia No. [69], Rosneft's daily average crude oil production in 2010 increased by 6.4%, to 2.3 million barrels (370thousand cubic metres). March 28, 2020. 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. Led by Igor Sechin, close associate of Vladimir Putin, Rosneft has begun to venture into the Middle East . Ulyukayev, while influential, was not part of President Putin's inner circle.[89]. Most of Rosneft's current assets were established during the Soviet era. Rosneft is headquartered in Moscow, Russia. 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. In 2013, oil workers planted about 5 thousand pine plants in the area of 6 hectares. 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. 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. 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 Rosneft is also second-to-none in terms of total proved liquid hydrocarbon reserves. ", "Rosneft and BP Form Global and Arctic Strategic Alliance", "BP, Russian Billionaires, and the Kremlin: A Power Triangle That Never Was", "ExxonMobil in $3.2bn Rosneft Arctic pact", "Rosneft Teams Up with Exxon Mobil in Arctic Deal", "Rosneft and ExxonMobil to Develop Black Sea Resources", "U.S. will not give Exxon permission to drill in Russia", "Taking a stake in Rosneft is a big gamble for BP", "Sechin points to multi-billion TNK-BP synergies", "Rosneft pays out in historic TNK-BP deal completion", "BP to offload stake in Rosneft amid Ukraine conflict", "Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade", "Rosneft replaces departed western board members", "Announcement of Treasury Sanctions on Entities Within the Financial Services and Energy Sectors of Russia, Against Arms or Related Materiel Entities, and those Undermining Ukraine's Sovereignty", "Treasury Targets Russian Oil Brokerage Firm for Supporting Illegitimate Maduro Regime", "U.S. Imposes Sanctions on Russian Oil Company Supporting Venezuela's Leader", "EU introduces additional sanctions against Russia", "Germany: Rosneft Acquires 50% Of Ruhr Oel GmbH", "Rosneft sells Venezuelan assets to Russia after U.S. sanctions ramp up", "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic", "Russian ex-minister Ulyukayev gets eight years for bribery", "Ex-minister's harsh jail sentence sends shockwaves through Russian elite", "Ex-Russian minister Ulyukayev faces bribery charges, pins blame on Rosneft head and Putin ally | DW | 16.08.2017", "Why Russia has so many oil leaks | DW | 29.03.2021", "Russia's Rosneft charged over pipeline leak that caused oil to come out of taps", "Announcement Of Additional Treasury Sanctions On Russian Government Officials And Entities", "Executive Order - Blocking Property of Additional Persons Contributing to the Situation in Ukraine", "U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs", "BP, Russian billionaires, and the Kremlin: a Power Triangle that never was", Rosneft Oil production, refining, reserves and capex by division, segment and period (Grmike, wikinvest), Yahoo! : If the court upholds ( in-country ) to these entities ultimate parent, Rosneft oil company the &! 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