Tag Archives: Rosneft

Russia to Partially Privatize Rosneft, Aiming to Raise US$11 Billion

Rosneft office

As part of the economic development plan for 2016, the Russian government is planning to partially privatize its flagship oil producer, Rosneft. Russia is hoping to get more than US$11 billion from the sale of a minority stake of Rosneft before the end of the year. This will help plug financial deficits in the Russian economy caused due to low crude prices. However, sanctions imposed on Moscow over its actions in Ukraine and the cautious approach of investors in investing money in Russia can prove to be detrimental for the Russian market. Added to this is the volatile nature of the commodity market. Rosneft is hoping to repeat the success it had a decade ago, when it managed to raise US$11 billion from its initial share offering.

Read more: http://www.researz.com/russia-partially-privatize-rosneft-aiming-raise-us11-billion

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Indian Oil Companies Propose to Enter Into Contract with Rosneft

Three major Indian oil companies, Indian Oil Corp, Oil India Ltd and Bharat Petro Resources Ltd (BPRL), are planning to finalize an energy deal with the Russian oil giant Rosneft to buy stakes in the Siberian oil fields. The Chief Executive of Rosneft, Igor Sechin, will visit Delhi on March 15-16 during which a sale purchase agreement is likely to be signed for a 29 percent stake in the Taas-Yuriakh oil field. Last year, Rosneft sold a 20 percent share in Taas-Yuriakh to BP for $750 million, and based on that valuation a 29 percent stake could be worth around $1 billion. India is the third biggest oil importer and has to import three quarters of its oil requirements. This proposed deal comes at a time when New Delhi is pushing to take advantage of the substantial fall in oil prices and acquire overseas energy assets.

Read Full News At: http://www.researz.com/indian-oil-companies-propose-enter-contract-rosneft