All articles tagged with #rosneft
Lukoil faces a crisis after the US blocked its deal with Gunvor due to sanctions, risking a €14bn asset loss and raising the possibility of a takeover by Rosneft, as the company’s international expansion is halted and domestic prospects are limited.
A rivalry among top Russian oil traders is disrupting Rosneft's operations and costing billions, amid Western sanctions and internal disputes, threatening Russia's crucial revenue streams and its war efforts in Ukraine.
The US has imposed sanctions on Russia's largest oil companies, Rosneft and Lukoil, to pressure Moscow into ending its invasion of Ukraine, aiming to impact Russia's economy and potentially influence peace negotiations, while also causing a rise in global oil prices.
The US imposed sanctions on Russia's top oil companies, Lukoil and Rosneft, amid growing frustration over the Ukraine war, while the EU banned Russian LNG imports in its 19th sanctions package, marking a significant escalation in Western efforts to pressure Russia.
The US has imposed sanctions on Russia's largest oil companies, Rosneft and Lukoil, to pressure Moscow to end its war in Ukraine, marking the first such sanctions since Trump returned to office. The move aims to cut off revenue funding the Russian military effort, with coordinated actions from the UK and EU, including potential bans on Russian natural gas and financial dealings, signaling increased international pressure on Russia.
A drone attack caused a fire at Rosneft's Novokuybyshevsk refinery, leading to the suspension of crude processing. The refinery, capable of processing 8.3 million tons annually, shut down its two crude distillation units but is expected to resume operations in early November. This incident follows recent attacks on Russian energy infrastructure, highlighting ongoing tensions and vulnerabilities in the region.
Russia's Rosneft reported a 68% drop in net income to $3 billion in the first half of the year, primarily due to declining oil prices caused by increased production from OPEC+ countries and U.S. output, amid ongoing geopolitical tensions and attacks on Russian oil infrastructure.
EU sanctions have led Nayara Energy, an Indian refiner partly owned by Rosneft, to require upfront payments for oil shipments, reflecting the broad impact of new EU measures targeting Russian energy trade, including stricter price caps and restrictions on Russian petroleum products.
Rosneft, Russia's second-largest company, criticized EU sanctions on its Indian refinery, Nayara Energy, claiming they are illegal and do not affect its profits directly. The sanctions, part of broader EU measures against Russia, target various Russian interests amid ongoing geopolitical tensions.
Russian oil company Rosneft criticizes EU sanctions against Indian refinery Nayara Energy, calling them unjustified and illegal, amid broader EU measures targeting Russian energy exports due to the Ukraine invasion. Nayara, partly owned by Rosneft, operates a major refinery in India and faces challenges due to sanctions that hinder Rosneft's earnings repatriation, prompting calls for protection of shareholder interests.
Rosneft has issued a warning to Berlin over its plan to nationalize the company's German assets, stating that such a move would have serious consequences for the German economy and energy security. The Russian state-controlled oil company's statement comes in response to a proposal by Germany's Left party to bring Rosneft's German operations under state control.
A fire at a Rosneft-owned oil refinery in Tuapse, Russia, has been extinguished, with no reported casualties or injuries. The refinery, with an annual capacity of 12 million metric tons, mainly supplies fuel to Turkey, China, Malaysia, and Singapore. The cause of the blaze and the extent of the damage are not immediately clear, and a Rosneft representative was not available for comment. Unofficial sources suggested that drones may have been responsible for the fire, which is one of several recent incidents affecting energy infrastructure facilities in Russia.
Igor Sechin, the head of Rosneft, has said that Russia is losing out to other OPEC+ countries due to a smaller share of its oil production being exported. Sechin proposed that OPEC+ should monitor not only production quotas but also oil export volumes, given the different sizes of domestic markets. Currently, OPEC+ regulates only production, not exports. Sechin also noted that it was more difficult for OPEC countries to find common ground due to differences in economic structure and oil production.
Rosneft and Indian Oil Corp have signed a term agreement to increase oil supplies and diversify oil grades delivered to India. The deal was signed during a working trip to India by Rosneft CEO Igor Sechin, and the details of the agreement were not revealed. The parties also discussed expanding cooperation between Rosneft and Indian companies in the entire value chain of the energy sector, including possibilities of making payments in national currencies.