A Russian court in the Siberian city of Tyumen has rejected two lawsuits against British oil company BP and its representatives in BP’s joint Russian venture TNK-BP. A minority shareholder of TNK-BP was claiming $15 billion for lost profits because they were excluded from an agreement between BP and Russian oil firm Rosneft. At the [...]
Tag: Rosneft
November 11, 2011
September 27, 2011
Rosneft pledges annual oil production of some 1,300 mln bbl by 2020
This article made me smile when I read it. Since the Russian oil industry is experiencing a year on year decline of about 8% a year. In 9 years the total decline will be around 72% of available Russian oil reserves. So to say that Russia is going to boost oil production going into the [...]
September 26, 2011
Taking state controlled companies to the private sector
With the Russian government looking to sell down its stake with a mutli year privatization programme, Business RT spoke with Igor Bulantsev, CEO at NORDEA Russia about the implications it carries for investors, the state, and the companies. RT: How much interest is Russia’s privatization programme going to attract from international investors? IB: “I think [...]
September 16, 2011
Russia, China can agree on oil price out of court-Sechin
Russia’s Deputy Prime Minister Igor Sechin said on Friday that an oil supply dispute between Moscow and Beijng could be solved out of court. A source close to the situation has said China’s CNPC had underpaid $40.5 billion to Russia’s Transneft oil pipeline monopoly. Russia’s top crude producer Rosneft has also complained it had not [...]
September 15, 2011
Alfa exerting pressure on Rosneft management
Alfa Group, controlled by billionaire Mikhail Fridman, is putting pressure on the management of Russian oil giant Rosneft and the oil company is ready to prove it in court, Rosneft said on Thursday. It said that its board of directors had received letters from Cyprus-based NBI Trading accusing them of attempts of diluting its stake [...]
September 12, 2011
Russian state will not interfere in TNK-BP conflict
Russian President Dmitry Medvedev said on Monday that the conflict between the shareholders in TNK-BP must be resolved through standard legal procedures and on a corporate level. Medvedev spoke during talks with British Prime Minister David Cameron, who is on an official visit to Russia. “Executive powers, obviously, cannot interfere in this process,” presidential aide [...]
September 12, 2011
TNK-BP plans no new oil refineries in Siberia, Russia’s Far East
Russian-British joint venture TNK-BP has no plans to build oil refineries in Eastern Siberia or the Russian Far East despite Prime Minister Vladimir Putin’s call on oil companies to build refineries in the region to reduce fuel prices, RIA Novosti quoted deputy CEO Maxim Barsky as saying on Monday. “We have no such plans in [...]