58-397: (2021) PJSC Rosneft Oil Company (Russian: Роснефть , romanized : Rosneft' , IPA: [ˌrosˈnʲeftʲ] stylized as ROSNEFT ) is a Russian integrated energy company headquartered in Moscow . Rosneft specializes in the exploration, extraction , production, refining, transport , and sale of petroleum, natural gas, and petroleum products. The company is controlled by
116-560: A 0.54% stake. The ownership structure includes a Cayman Islands company, QHG Cayman Limited, whose ownership can not be traced. After the transaction, Rosneft's holding company Rosneftegaz retained 50% + 1 share of the company. On 2 October 2017, the PLA -linked CEFC China Energy bought a $ 9 billion stake in Rosneft. On 26 September 2017, the Russian government controversially approved
174-451: A 22.5% stake in Rosneft. Rosneft announced a placement value of US$ 5.85–7.85 per share and global depository receipt (GDR), based on the company's capitalization after consolidation of US$ 60–80 billion. It planned to place shares for at least US$ 8.5 billion in order to repay loans to Western banks, including interest and taxes. On 14 July, the official results of the placement value were announced. Shares were priced at US$ 7.55, almost at
232-512: A Latin alphabet for the Russian language was discussed in 1929–30 during the campaign of latinisation of the languages of the USSR , when a special commission was created to propose a latinisation system for Russian. The letters of the Latin script are named in Russian as following (and are borrowed from French and/or German ): Sakhalin-III Too Many Requests If you report this error to
290-639: A Working Group of the United Nations , in 1987 recommended a romanization system for geographical names, which was based on the 1983 version of GOST 16876-71 . It may be found in some international cartographic products. American Library Association and Library of Congress (ALA-LC) romanization tables for Slavic alphabets are used in North American libraries and in the British Library since 1975. The formal, unambiguous version of
348-434: A full range of geophysical and geochemical research, conduct 2D and 3D seismic surveys, and start preparations for exploratory drilling. In June 2014, Rosneft extended the shelf study period to five years. In July 2015, however, the new President of Abkhazia, Raul Khajimba , who replaced Alexander Ankvab after his resignation, spoke out against the exploration and production of oil on the offshore shelf of Abkhazia and asked
406-468: A number of auctions for the sale of Yukos' assets, including five refineries and oil companies Tomsk Oil Company and Samara Oil and Gas Company, making it the largest oil company in Russia. 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. In 2007,
464-462: A series of auctions to sell the assets of Yukos Oil Company, of which Rosneft won the majority. On 22 December 2004, Rosneft 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. According to some estimates, this operation was directed by Russian authorities in order to nationalize Russia's oil and gas industry. In response to
522-469: 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. 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. In exchange, subject to approval by U.S. regulators, in addition to a share in oil production in Russian fields, Rosneft
580-453: A system of transliteration fitted for their keyboard layout , such as for English QWERTY keyboards, and then use an automated tool to convert the text into Cyrillic. There are a number of distinct and competing standards for the romanization of Russian Cyrillic , with none of them having received much popularity, and, in reality, transliteration is often carried out without any consistent standards. Scientific transliteration, also known as
638-641: A total value of US$ 10.7 billion in an initial public offering (IPO) at the London Stock Exchange , the Russian Trading System , and the Moscow Interbank Currency Exchange . Part of the shares were distributed among the Russian population through banks such as Sberbank and Gazprombank . The Federal Service for Financial Markets authorized the placement and circulation outside the country of
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#1732779951134696-540: Is an adoption of an ICAO standard for travel documents. It was used in Russian passports for a short period during 2010–2013 ( see below ). The standard was substituted in 2013 by GOST R ISO/ IEC 7501-1-2013, which does not contain romanization, but directly refers to the ICAO romanization ( see below ). Names on street and road signs in the Soviet Union were romanized according to GOST 10807-78 (tables 17, 18), which
754-753: Is an equivalent of GOST 16876-71 and was adopted as an official standard of the COMECON . GOST 7.79-2000 System of Standards on Information, Librarianship, and Publishing–Rules for Transliteration of the Cyrillic Characters Using the Latin Alphabet is an adoption of ISO 9:1995 . It is the official standard of both Russia and the Commonwealth of Independent States (CIS). GOST 52535.1-2006 Identification cards. Machine readable travel documents. Part 1. Machine readable passports
812-423: Is based on its predecessor ISO/R 9:1968, which it deprecates; for Russian, the two are the same except in the treatment of five modern letters. ISO 9:1995 is the first language-independent, univocal system of one character for one character equivalents (by the use of diacritics) that faithfully represents the original and allows for reverse transliteration for Cyrillic text in any contemporary language. The UNGEGN ,
870-430: Is one of the largest oil companies, ranking 24 in terms of revenue. In the 2020 Forbes Global 2000 , Rosneft was ranked as the 53rd-largest public company in the world. The company operates in more than twenty countries around the world. In 2022, the company's revenue amounted to 7 trillion rubles. Rosneft has played a major role in the history of Russia's oil industry . The first use of the name Rosneft dates back to
928-475: The 2022 Russian invasion of Ukraine more than half of Rosneft's 11-member board had quit, forcing the company into a major reshuffle at its annual general meeting on 30 June 2022. Taieb Belmahdi, a former executive at Qatar's state-owned QE, has been elected chairman of the board to replace ex-German chancellor Gerhard Schröder who stepped down in May. In November 2023 a Rosneft subsidiary Sakhalinmorneftegaz-Shelf
986-626: The Abkhazia 's Ministry of 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. Rosneft undertook exploration on the shelf in the Ochamchira area, discovering preliminary reserves estimated at 200 million to 500 million tons of oil equivalent. In addition to drilling and creating its own sales network, Rosneft also planned
1044-669: The Chinese National Petroleum Corporation (CNPC) and Rosneft, cooperation between CNPC and Transneft to construct and operate a branch of the Eastern Siberia–Pacific Ocean (ESPO) oil pipeline to China, and the provision of loans for US$ 25 billion—US$ 15 billion from Rosneft and US$ 10 billion from Transneft—by the China Development Bank on the security of supplies. Starting in 2004, the Russian government organized
1102-490: 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. 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
1160-815: The International Scholarly System , is a system that has been used in linguistics since the 19th century. It is based on the Czech alphabet and formed the basis of the GOST and ISO systems. OST 8483 was the first Soviet standard on romanization of Russian, introduced on 16 October 1935. Developed by the National Administration for Geodesy and Cartography at the USSR Council of Ministers , GOST 16876-71 has been in service since 1973. Replaced by GOST 7.79-2000. This standard
1218-454: The Latin script ), aside from its primary use for including Russian names and words in text written in a Latin alphabet, is also essential for computer users to input Russian text who either do not have a keyboard or word processor set up for inputting Cyrillic, or else are not capable of typing rapidly using a native Russian keyboard layout ( JCUKEN ). In the latter case, they would type using
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#17327799511341276-565: The People's Assembly to consider the possibility of establishing a "commission for the comprehensive study of issues related to the conclusion of contracts for exploration and production hydrocarbons by the previous Abkhaz leadership." A group of deputies of the People's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia. Supporters of the bill demanded the prohibition of
1334-542: The Russian government through the Rosneftegaz holding company. Its name is a portmanteau of the Russian words Ros siyskaya neft ( Russian : Рос сийская нефть , lit. 'Russian oil'). Rosneft was founded in 1993 as a state enterprise and then incorporated in 1995, acquiring a number of state-controlled gas and oil assets. It became Russia's leading oil company after purchasing assets of
1392-507: The Russian supreme court announced that Lebedev should also be freed early. The purchase of Yugansk in 2005 greatly increased the number of assets and production for Rosneft. Subsequently, Rosneft filed a lawsuit against Yukos in connection with the use of the understated transfer prices for the purchase of oil from Yuganskneftegaz prior to its breakup. At the same time, Rosneft itself also purchased oil and gas from its subsidiary, Yuganskneftegaz, at transfer prices . In May 2007, Rosneft won
1450-689: The 2010s, the extensive contact between Rosneft and ExxonMobil were further deepened, with Igor Sechin and Rex Tillerson getting to know each other personally. On 15 January 2011, Rosneft and BP announced a deal to develop the East-Prinovozemelsky field on the Russian arctic shelf between the Yamal Peninsula and Novaya Zemlya island. As part of the deal Rosneft was to receive 5% of BP's shares, worth approximately $ 7.8 billion, as of January 2011 and BP would get approximately 9.5% of Rosneft's shares in exchange. According to
1508-745: The Arctic. 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. 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 . Officially, the stake was split 50/50 between Glencore and Qatar, but Glencore contributed only €300 million and claims only
1566-619: The Oxford University Press, and a variation was used by the British Library to catalogue publications acquired up to 1975. The Library of Congress system (ALA-LC) is used for newer acquisitions. The BGN/PCGN system is relatively intuitive for Anglophones to read and pronounce. In many publications, a simplified form of the system is used to render English versions of Russian names, typically converting ë to yo , simplifying -iy and -yy endings to -y , and omitting apostrophes for ъ and ь . It can be rendered using only
1624-444: The Russian government tried to sell Rosneft, but it failed. In October 1998, the Russian government appointed Sergey Bogdanchikov as president. The company owned two obsolete refineries and several low-productive and poorly managed oil-producing assets. 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. From 2002 to 2004,
1682-622: The basic letters and punctuation found on English-language keyboards: no diacritics or unusual letters are required, although the interpunct character (·) may be used to avoid ambiguity. This particular standard is part of the BGN/PCGN romanization system which was developed by the United States Board on Geographic Names and by the Permanent Committee on Geographical Names for British Official Use . The portion of
1740-648: The company is looking for foreign cooperation to bring in new technology and share risks. In April 2017, the Trump administration denied ExxonMobil permission to continue a deal with Rosneft to drill for oil in Russia. On 22 October 2012, it was announced that Rosneft will take over TNK-BP International, a parent company of TNK-BP Holding, which is the third largest oil company in Russia. BP will receive in exchange of its stake $ 12.3 billion of cash and 18.5% of Rosneft's share, while ARR received $ 28 billion in cash. According to Rosneft's CEO Igor Sechin , no discussion
1798-556: The company received a license for the development of the Sakhalin-IV and Sakhalin-V project, and in 2003 a license for the development of the Sakhalin-III project. In 2005, Rosneft acquired a 25.94% stake in the company Verkhnechonskneftegaz and became the leading oil company of Russia in terms of production. In 2007, the company for the first time entered the annual list of one hundred most respected firms and companies in
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1856-649: The company's CEO, succeeding Khudaninatov, who received the post of vice-president. 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. 35. The transaction value is estimated at US$ 28 million. According to Kommersant , the Murmansk terminal can be used as a platform for Rosneft's activities in
1914-568: The company's primary objectives were strengthening control over its assets, reducing the debt burden, and obtaining licenses in Eastern Siberia. The determining factor in enhancing the role of Rosneft in the Russian oil industry has been the support of the country's top leadership. The company, during this time, managed to restore its status after its rough start in the 1990s with the acquisition of Krasnodar Oil and Gas Company in 2002 and Northern Oil Company in early 2003. In addition, in 2002,
1972-524: The construction of mini-refineries in Abkhazia. According to Rosneft, the company provides more than half of the retail sales of oil products in Abkhazia. In 2014, Rosneft exported 47 thousand tons of oil products to Abkhazia. Since 2015, Rosneft has been supplying aviation fuel for Sukhumi Babushara Airport . As part of the project to develop the Gudauta area on the Black Sea shelf, Rosneft carried out
2030-482: The deal, Andrei Illarionov , then a senior Putin economic advisor, denounced it as "fraud of the year". In 2005, Mikhail Khodorkovsky (former chairman of Menatep ) and Platon Lebedev (business partner of Khodorkovsky) were sentenced to nine years in prison for fraud and tax evasion . In February 2007, they were charged again and accused of stealing $ 25 billion worth of oil from Yukos subsidiaries. They were convicted, but in 2013 Putin pardoned Khodorkovsky and 2014
2088-544: The deal, the two companies would create an Arctic technology centre in Russia to develop technologies and engineering practices for safe arctic hydrocarbons extraction. AAR, which represents four billionaires of Russian origin and is BP's Russian partner in the TNK-BP joint venture, blocked the BP–Rosneft deal in international courts, arguing it breached earlier contracts between BP and AAR. The TNK-BP partners had previously signed
2146-692: The development of the offshore shelf in Abkhazia for 30 years. In September 2010, Eduard Khudainatov replaced Sergei Bogdanchikov as CEO of the company. On 15 October 2010, Russian President Dmitry Medvedev signed an agreement with President of Venezuela Hugo Chávez for the PDVSA to sell 50% of the shares of German company Ruhr Oel to Rosneft, giving Rosneft oil refining assets in Germany. "Stake in Ruhr Oel GmbH" . Rosneft . Since 23 May 2012, former Deputy Prime Minister Igor Sechin became
2204-491: The former German chancellor Gerhard Schröder as chairman of Rosneft. In May 2018, it was announced that the Qatar-Glencore consortium is cancelling the plan to sell a $ 9.1 billion (14%) stake of Rosneft to CEFC China Energy . 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. In
2262-686: The former assets of Yukos provided 72.6% of oil and gas condensate production and 74.2% of Rosneft's primary refining. In June, Rosneft paid $ 731 million for the transportation assets of Yukos, which had declared bankrupt in August 2006 after three years of litigation over tax arrears. In August, Bogdanchikov said that although the Yukos acquisitions had increased Rosnefts debt to $ US 26 billion, he planned to reduce debt to 30% of total assets by 2010 by tripling refining capacity and expand into China. In July 2006, Rosneft placed 15% of its shares traded with
2320-402: The former oil company Yukos at state-run auctions. After acquiring OJSC TNK-BP in 2013, then one of the largest oil companies in Russia, Rosneft became the world's largest publicly traded petroleum company. Rosneft is the third-largest Russian company and the second-largest state-controlled company (after Gazprom ) in Russia in terms of revenue ( ₽ 4,134 billion). Internationally, it
2378-496: The introduction of a dedicated Latin alphabet for writing the Russian language. Such an alphabet would not necessarily bind closely to the traditional Cyrillic orthography. The transition from Cyrillic to Latin has been proposed several times throughout history (especially during the Soviet era), but was never conducted on a large scale, except for informal romanizations in the computer era. The most serious possibility of adoption of
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2436-407: The largest in the history of Russia and the fifth in the world in terms of the amount of money raised at the time. 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. On 26 May 2009, a five-year cooperation agreement was negotiated between Rosneft and
2494-646: The late 19th century, when exploration of oil fields in Sakhalin began in 1889. Most of Rosneft's current assets were acquired during the Soviet era. 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 . During the early 1990s, almost all Russian oil companies and refineries were extracted from Rosneft to form ten integrated companies. Later their number
2552-484: The new system and the old one, citizens who wanted to retain the old version of a name's transliteration, especially one that had been in the old pre-2010 passport, could apply to the local migration office before they acquired a new passport. The standard was abandoned in 2013. In 2013, Order No. 320 of the Federal Migration Service of Russia came into force. It states that all personal names in
2610-459: The passports must be transliterated by using the ICAO system , which is published in Doc 9303 " Machine Readable Travel Documents, Part 3 ". The system differs from the GOST R 52535.1-2006 system in two things: ц is transliterated into ts (as in pre-2010 systems), ъ is transliterated into ie (a novelty). In a second sense, the romanization or Latinization of Russian may also indicate
2668-692: The project. The venture will be shared 50–50 between the companies during prospecting phase, and two-thirds to one-third in Rosneft's favour during the extraction phase. The Tuapse Trough is estimated to contain 7.2 billion barrels of oil equivalent . The first well could be drilled in 2012. 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. According to analysts, offshore areas are central to Rosneft's expansionist plans, and
2726-517: The regional governor. The refinery is responsible for 8% of Russian aviation fuel, 6.4% of gasoline, 4.1% of diesel and 7.7% of fuel oil. Another drone was shot down over the Kirishi refinery, Russia's second largest, without causing damage or injuries. Romanization of Russian The romanization of the Russian language (the transliteration of Russian text from the Cyrillic script into
2784-410: The system for bibliographic cataloguing requires some diacritics, two-letter tie characters , and prime marks. The standard is also often adapted as a "simplified" or "modified Library of Congress system" for use in text for a non-specialized audience, omitting the special characters and diacritics, simplifying endings, and modifying iotated initials. British Standard 2979:1958 is the main system of
2842-502: The system pertaining to the Russian language was adopted by BGN in 1944 and by PCGN in 1947. In Soviet international passports , transliteration was based on French rules but without diacritics and so all names were transliterated in a French-style system . In 1997, with the introduction of new Russian passports , a diacritic-free English-oriented system was established by the Russian Ministry of Internal Affairs , but
2900-447: The system was also abandoned in 2010. In 2006, GOST R 52535.1-2006 was adopted, which defines technical requirements and standards for Russian international passports and introduces its own system of transliteration. In 2010, the Federal Migration Service of Russia approved Order No. 26, stating that all personal names in the passports issued after 2010 must be transliterated using GOST R 52535.1-2006. Because of some differences between
2958-449: 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. 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." Rosneft's IPO became
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#17327799511343016-498: The upper end of the price band, resulting in Rosneft's capitalization —taking into account the upcoming consolidation of its subsidiaries—at a value of US$ 79.8 billion, making Rosneft surpass Lukoil as the largest oil company in Russia. Investors bought 1.38 billion shares for US$ 10.4 billion: 21% of the shares were bought by strategic investors, 36% from international investors from North America, Europe, and Asia, 39% from Russian investors, and 4% from Russian retail investors. 49.4% of
3074-409: The world according to the weekly Barron's , in 99th place. By the same year, Rosneft produced 100 million barrels of oil, 20% of Russia's output at the time. In March 2007, Rosneft had announced it hoped to increase production from 80 million tonnes to 103 million tonnes from 2006 to the end of 2007, extract 140 million tonnes of oil by 2012, and become a global top three energy company. When
3132-497: Was amended by newer Russian GOST R 52290-2004 (tables Г.4, Г.5), the romanizations in both the standards are practically identical. ISO/R 9, established in 1954 and updated in 1968, was the adoption of the scientific transliteration by the International Organization for Standardization (ISO). It covers Russian and seven other Slavic languages. ISO 9:1995 is the current transliteration standard from ISO. It
3190-457: Was given the job of managing Sakhalin-I with an 11.5% interest in the project. In January 2024, Ukrainian retaliatory drone strikes hit at least four oil and gas terminals across Russia, including Rosneft's Tuapse oil terminal on the Black Sea coast. On 13 March 2024, Ukrainian drones set fire to Rosneft's oil refinery in Ryazan , the seventh largest in Russia, causing injuries according to
3248-709: Was granted participation in U.S. fields in Texas and the Gulf of Mexico. On 27 January 2011, Rosneft and the American company ExxonMobil signed a deal to establish a joint venture for the purpose of prospecting and extracting oil from the Tuapse field deepwater area on the Black Sea shelf , near the coast of the Krasnodar Krai . The value of the deal is unknown, but ExxonMobil is expected to invest $ 1 billion in
3306-596: Was halved as a result of acquisitions. On 29 September 1995, an Order of the Government of Russia No. 971 transformed Rosneft into an open joint stock company . In March 1996, Rosneft founded the Russian Regional Development Bank . Rosneft struggled financially and operationally during the 1998 Russian financial crisis with decreased production due to poor assets and lower retail sales with an underused refining capacity. In July 1998
3364-716: Was held on a buyout of minority shareholders in TNK-BP Holding. The deal was completed on 20 March 2013. On 27 February 2022, BP announced that it would divest its 19.75% stake in Rosneft in response to the Russian invasion of Ukraine that took place in February 2022. In 2022, Trafigura wound down its relationship with Rosneft, Rosneft asked 2Rivers to take Trafigura's place. 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. The offer failed to attract any customers. Following
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