BP-TNK

Gerhard Schroeder becomes the new head of Rosneft's board of directors.

The Board of Directors of Rosneft, the largest oil company of the Russian Federation, elected Gerhard Schroeder, the former chancellor of Germany, the head of the Nord Stream AG shareholders commit

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Fair game: Forbes has made a rating of the largest buyers of Russian oil.

The 20 participants in the rating account for almost 85% of Russian oil exports, and in 2016 it reached 254.8 million tons.

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Lukoil considers selling a third of its petrol stations in Russia.

LUKOIL is considering the possibility of selling up to 30% of its petrol stations in Russia due to a drop in the profitability of the business.

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Rosneft to transfer all TNK petrol stations to its brand.

Rebranding can cost from 1.5 billion to 4 billion roubles.

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CEO Glencore may enter the board of directors of Rosneft.

Representatives of Glencore and the Qatar Investment Authority (QIA) were nominated to the board of Rosneft, the largest state oil company of the Russian Federation, the Vedomosti reports citing tw

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BP not to participate in the privatization of "Rosneft".

Company is satisfied with its current status of a major minority shareholder of the state-owned company.
"We are satisfied with interests in "Rosneft" I think we'll keep it at the current level", - CEO BP Robert Dudley stated, commenting on the possibility of buying additional package. The company would neither increase nor reduce the share of "Rosneft", the representative of BP added. Available package (19.75%) corresponded to the strategic interests of BP to work in Russia, he stated, refusing to comment further.

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The RF Ministry Finance expects to sell 19.5% of Rosneft in H2 2016.

In H2 2016 Russian authorities were going to have time to sell 19.5% of Rosneft, the largest state-owned oil company of Russia, and expected to receive about 650 billion roubles, Prime stated with reference to the statement of the RF Minister of Finance Anton Siluanov in an interview with the CNBC.
At present the capitalization of the largest oil companies of the country was 3.27 trillion roubles, so Anton Siluanov announced market price for the government stake.

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Rosneft may receive 60 billion rubles from budget next month

Rosneft has been very close to the receiving of 60 billion rubles from the budget. The company is seeking the return of overpaid customs duties on oil on its asset Verkhnechonskneftegaz through court and the Energy Ministry hasn’t managed to convince the Supreme Court to suspend the decisions of previous courts that took the side of Rosneft. Now the company, if it applies for the receipt of money, will be able to get them for a month. But the Ministry of Energy still has a chance to convince the Supreme Court to review the case.
The Supreme Court refused the Ministry of Energy to suspend the decisions of the appellate and cassation courts in the dispute with Rosneft of overpaid customs duties on oil from the Verkhnechonskoye field in the Irkutsk region. The Ministry of Energy filed the relevant complaint on February 10. Now the Ministry is obliged to implement the decision of the courts and to issue Rosneft a certificate of confirmation of "special physical and chemical characteristics" of oil from this field. In turn, this will give Rosneft the right to claim a refund of the customs duties in the amount of 60 billion rubles.

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"Rosneft" stands for reference.

The RF Ministry of Energy is in no hurry to recognize VChNG extraction.
At the request of the RF Ministry of Energy cassation court froze the execution of the decision the Court of Appeal, which supported the requirement of "Rosneft" on the recognition of backdating its eligibility on oil privileges at Verhnechonsk field. Now, before the completion of the lawsuit the company can not get the proper reference from the RF Ministry of Energy and begin the process of recovery of about 60 billion roubles of the overpaid export duty. Lawyers believe that the decision of the appeal court can tell us about the next turn of the case not in favor of "Rosneft".

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Rosneft's deal on VNHK may require coordination – FAS.

The deal of Rosneft, the largest state-owned oil company of Russia, and China National Chemical Corporation ChemChina for the purchase of shares of "Eastern Petrochemical Company" (VNHK) may require prior approval of the law on foreign investment, the website of the agency informs referring to the statement of Armen Han, the head of the control of foreign investments FAS RF.
Last week Rosneft and ChemChina signed a memorandum of understanding on cooperation on the VNHK project. The memorandum concerns the proposed acquisition of a controlling stake in VNHK by ChemChina and identifies key stages of investment.

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