Rosneft

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Rosneft (ОАО НК «Роснефть»)

logo
legal form Open joint-
stock company joint- stock company (Russia)
ISIN RU000A0J2Q06
US67812M2070 ( GDR )
founding 1993
Seat Moscow , RussiaRussiaRussia 
management
Number of employees 295,800
sales 4.99 trillion Rubles (58 billion euros )
Branch Petroleum, natural gas
Website rosneft.com
As of December 31, 2015

The headquarters of Rosneft on the banks of the Moscow River

Rosneft ( Russian Роснефть ) is a Russian mineral oil company with headquarters in Moscow . The company has been listed on the stock exchange since 2006 . The managing director of the oil company is Igor Sechin , former deputy head of the presidential administration under Vladimir Putin .

In 2017, Rosneft was ranked 73rd among the world's largest companies in Forbes Global 2000 .

property

The majority owner of Rosneft was certainly the Russian state via the company Rosneftegaz until March 2020. He held around 70% of the shares until 2016, then he sold around 19 percent and thus still held a little over 50 percent. Even before this sale of shares in 2016, British Petroleum was another major shareholder with a share of 19.75% of the share capital (as of 2015 and 2020).

After making a purchase in September 2017, the Chinese CEFC group held around 14 percent of the shares, leaving the Swiss commodities trader Glencore and the Qatar Investment Authority with a share of 5 percent. In March 2020, a participation of almost 19 percent and Glencore one of half a percent was specified for the Qatar.

Companies

Rosneft researches oil and gas deposits and operates drilling rigs on Sakhalin , in Siberia , in the Timan - Pechora Basin ( Nenets Autonomous Okrug ) and in southern Russia. Rosneft owns and operates two refineries . The plant in Tuapse refines heavy fuel oil from Western Siberia, the plant in Komsomolsk am Amur is the easternmost oil refinery in Russia. In 2005 the company produced nearly 78 million tons of oil. Rosneft also owns freight forwarding, pipeline and marketing companies.

On December 22, 2004, Rosneft took over the letterbox company Baikal Finans, which had been founded a few days earlier . On December 19, Baikal Finans bought the production company Yuganskneftegas, the most important subsidiary of the Russian energy group Yukos (former CEO Mikhail Khodorkovsky ), for seven billion euros (9.4 billion US dollars ), after Russian tax authorities Yukos with additional tax claims of around $ 28 billion for sale. The Russian state has managed to take control of most of Yukos through Rosneft.

The production of Rosneft, the only oil production company that remained completely in state hands after the extensive privatization of the oil production companies, in 2004 ranked far behind that of the leading oil producers Yukos and Lukoil . After the breakup of the Yukos group, Rosneft made a big leap up by taking over the largest production company of the Yukos group in 2005 and was now one of the three largest Russian oil producers.

On August 21, 2009, Vladimir Putin symbolically opened the Wankor production facility , which is one of the ten largest extraction facilities for oil and natural gas today. On October 22, 2012, Rosneft announced the takeover of the third largest Russian oil company TNK-BP for around 55 billion US dollars. TNK-BP was half owned by British BP and half by four Russian billionaires. Rosneft acquired BP's 50 percent stake for around $ 28 billion. BP received $ 17 billion and increased its stake in Rosneft to just under 20 percent. The AAR company of the Russian oligarchs, like BP, also received around 28 billion US dollars for their 50 percent stake.

In July 2014, the US government imposed sanctions on the company. In September 2014, the EU extended its sanctions to Rosneft and other Russian oil companies as a result of the war in eastern Ukraine . In June 2015, Rosneft sold 20 percent of the Srednebotubinskoye Siberian deposit , which produces 20,000 barrels a day, to the British company BP. The two companies also signed agreements to jointly explore two deposits in Western Siberia and to double Rosneft's stake in four jointly operated refineries in Germany.

Rosneft employed 106,000 people worldwide in 2014 and had annual sales of 92.7 billion US dollars. In 2016, Rosneft produced 3.7 million barrels of crude oil per day, which was a third of Russian production. In May 2017, Rosneft sued the Russian AFK Sistema for around $ 1.9 billion in damages. At the end of September 2017, the former German Chancellor Gerhard Schröder was elected to head the Supervisory Board.

In 2019, Reuters estimated that Rosneft had invested $ 9 billion in Venezuela since 2010. By selling Venezuelan oil, Rosneft got on American sanctions lists. In March 2020, Rosneft was able to get rid of its obligations in Venezuela by transferring the assets of the state-owned Rosneftegaz; this paid with Rosneft shares and thus lost the controlling majority. Julija Leonidovna Latynina wrote about this process to repel this burden: "When people take out garbage, they usually pay for this procedure and, on the contrary, do not receive money from the garbage man."

share

initial public offering

On July 14, 2006, Rosneft carried out the largest initial public offering in Russian history. According to its own information, the group took in 10.6 billion US dollars. Russia should remain majority owner, so that a maximum of 49% of the papers were placed. The largest part was offered on the London Stock Exchange , smaller parts on Russian stock exchanges. The share is listed in the RTS index and is also offered in the US electronic trading system NASDAQ via the OTC bulletin board . Share certificates are traded on the London Stock Exchange and on XETRA .

Capital increase

In mid-December 2014, Rosneft placed fresh shares valued at around 625 billion rubles on the stock exchange. Igor Sechin sharply rejected speculations that the Russian Central Bank had supported the sale of the paper .

Partial sale to Glencore with QIA

At the end of 2016, 19.5 percent of Rosneft shares were sold to a consortium of the Swiss commodity and oil trading company Glencore and the Qatar State Fund Qatar Investment Authority (QIA). Glencore had spoken of $ 300 million on its own, which was only around 3 percent of the total. According to the Russian daily Vedomosti , the Russian state bank VTB , then the state holding company Rosneftegaz, lent the necessary capital of more than 10 billion dollars to the investors ; it is also suspected that the sale was a sham and that the block of shares actually ended up with Russian institutions under the control of Igor Sechin. The consortium sold most of the shares (14.16%) to the Chinese CEFC China Energy in September 2017 for 9 billion dollars.

See also

Web links

Commons : Rosneft  - collection of images, videos and audio files
  • Rosneft.com. Website of the OJSC Rosneft neftjanaja kompanija (English).

Individual evidence

  1. ↑ a b Annual Report 2016 (PDF; 14.6 MB). Retrieved March 1, 2018.
  2. ↑ a b Stefan Scholl: Putin's shadow man. In: badische-zeitung.de . 20th January 2017.
  3. ^ The World's Largest Public Companies . In: Forbes . ( forbes.com [accessed July 17, 2018]).
  4. ↑ Shareholder structure. Rosneft's Shareholders as of March 1, 2018. Rosneft shareholders as of March 1, 2018 according to company information
  5. ↑ Benjamin Triebe: Why is Putin bringing Schröder to Rosneft? In: FAZ.net. 29th September 2017.
  6. ↑ Rosneft helps BP achieve high operating profit. In: NZZ.ch . 3rd February 2015.
  7. ↑ A billion- dollar deal is perfect. Qatar and Glencore join Rosneft. In: n-tv.de . December 7, 2016, accessed December 8, 2016.
  8. ^ Gesine Dornblüth: Russia. Sechin's power. In: Deutschlandfunk.de . December 12, 2012.
  9. ↑ On the day of the purchase of Rosneft's assets in Venezuela, the Russian Federation founded the Roszarubezhneft company , Interfax, March 30, 2020
  10. ↑ a b Julija Leonidovna Latynina: Sechin and China , Novaya Gazeta, April 2, 2020
  11. ↑ Rosneft becomes largest oil company - $ 55 billion acquisition. In: Reuters.com . October 22, 2012.
  12. ↑ EU plans sanctions against Russian oil companies. In: FAZ.net . 5th September 2014.
  13. ↑ Rosneft sells shares in Siberian deposits to BP. ( Memento January 2, 2016 Internet Archive ) In: Zeit.de . 19th June 2015.
  14. ↑ Top 20 Largest Oil & Gas Employers. ( Memento of June 8, 2016 in the Internet Archive ). In: oilgaspost.com. April 25, 2013, accessed April 11, 2013.
  15. ↑ Revenue of the Rosneft oil company from 2006 to 2016 (in billion US dollars). In: Statista.com . Retrieved March 22, 2018.
  16. ^ Benjamin Triebe: Bashneft privatization. Who will get Russia's Black Pearl? In: NZZ.ch . August 31, 2016, p. 25.
  17. ^ Rosneft files lawsuit against Sistema after Bashneft deal - news agencies. Retrieved August 3, 2017.
  18. ↑ Special Report: How Russia sank billions of dollars into Venezuela quicksand , Reuters, March 14, 2019
  19. ↑ Why Putin's favorite oil firm dumped its Venezuelan assets. The Economist , April 2, 2020, accessed May 19, 2020.
  20. ^ Andrew Kramer: Russia's Steep Rate Increase Fails to Stem Ruble's Decline. In: nytimes.com . December 16, 2014, accessed December 16, 2014.
  21. ↑ E. Mazneva, E. Shatalova: Rosneft Denies Role in Ruble's Rout After Record Bond Sale. In: Bloomberg.com . December 17, 2014, accessed December 17, 2014.
  22. ↑ K. Golubkova, D. Zhdannikov, S. Jewkes: How Russia sold its oil jewel: without saying who bought it. In: Reuters.com. January 24, 2017. Retrieved March 22, 2018.

Coordinates: 55 ° 44 ′ 52.4 "  N , 37 ° 37 ′ 12"  E