Russia, China round up joint naval exercise in Baltic SeaMilitary & Defense July 27, 21:27
Chechen leader says he is ready to quit his job to protect al-Aqsa Mosque in JerusalemSociety & Culture July 27, 21:07
Russian tennis star Sharapova granted wildcard for WTA tournament in CincinnatiSport July 27, 20:11
Russia invites Baltic partners to attend naval review in St. PetersburgMilitary & Defense July 27, 19:38
Russia’s new ambassador to Turkey presents his credentials to ErdoganRussian Politics & Diplomacy July 27, 19:03
Deadly wildfires in southern EuropeWorld July 27, 18:20
Russia interested in cooperation with Finland on Arctic environmentBusiness & Economy July 27, 18:14
New US anti-Russia sanctions way to pursue its economic interests with cynicism — PutinRussian Politics & Diplomacy July 27, 18:11
Moscow surgeons separate newborn Siamese twins conjoined at head in 30 minutesSociety & Culture July 27, 17:57
LONDON, April 23 (Itar-Tass) – The presentation of the oil company Rosneft for representatives of major British and international investment funds, as well as leading industry analysts will be held in London on Tuesday. Sources in the Russian state-run company told Itar-Tass that Rosneft President and CEO Igor Sechin will take part in the Investor Day.
“This is a non-deal roadshow. This is a regular roadshow, all major public companies meet with investors. Presentations will be made for them, as well as for analysts,” said the company that “last month closed a major deal” for the acquisition of a 100- percent stake in TNK-BP.
“The presentation will focus on the main spheres of work and projects of the state-run company,” a Rosneft source told Itar-Tass. “The previous such event was held in London in October,” she added. The Investor Day will be held on the basis of the conference facilities of a London hotel. Igor Sechin also expected to have a media scrum.
Rosneft is the leader of Russia’s petroleum industry, and ranks among the world’s top publicly traded oil and gas companies. The Company is primarily engaged in exploration and production of hydrocarbons, production of petroleum products and petrochemicals, and marketing of outputs. Rosneft has been included in the Russian Government’s List of Strategic Enterprises and Organisations. The state holds 69.50 percent in the Company (through OJSC ROSNEFTEGAZ), while approximately 10 percent of shares are in free-float.
Rosneft on March 21 announced the consolidation of 100 percent of TNK-BP. The company closed deals on the acquisition of BP’s 50-percent stake in TNK-BP for 16.65 billion US dollars in cash and 12.84 percent of Rosneft shares. Separately, BP acquired a 5.66-percent stake in Rosneft under a transaction with Rosneftegas. As a result of the transactions, BP got 12.48 billion US dollars in cash and increased the volume of its stake in Rosneft to 19.75 percent.
Under separate agreements, Rosneft closed the deal on the acquisition AAR’s (Alfa-Access-Renova) stake in TNK-BP for 27.73 billion US dollars in cash.
Upon completion of a number of independent transactions, Rosneft consolidated 100 percent of TNK-BP and became the world’s largest public oil and gas company in terms of production volumes and hydrocarbon reserves.
Commenting on the acquisition by Rosneft of TNK-BP, Igor Sechin noted that it was “the largest in the history of the world economy deal on direct acquisition of assets. Overall, as a result of the complex of transactions the total transaction volume reached 61 billion US dollars.”
“We will be actively engaged in synergy on all projects of the company,” the Rosneft CEO said. The volume of synergy, which we have calculated for ourselves is 10 billion US dollars - this is a very objective figure .... We will try to add up the value of equity capital for the benefit of shareholders.”
Rosneft has acquired the assets, becoming the world’s leading oil company with the annual production volume of about 210-215 million tonnes of oil (difference in calculation standards), 47 billion cubic metres of natural gas, nearly 95 million tonnes of processing and with revenues of about 160 billion US dollars (4.9 trillion roubles,” Sechin said earlier.