ROSNEFT

'OAO Rosneft Oil Company' (; not to be confused with Russneft] is a Russian integrated oil company, controlling interest of which is owned by the Russian Federation Government. Rosneft conducts oil and gas exploration and production activities on Sakhalin island, in Siberia, in the Timan-Pechora province, and in southern Russia, including Chechnya. It also owns and operates two refineries. Its plant in Tuapse, on the Black Sea, focuses on refining high-gravity oil from western Siberia. Another plant located in Komsomolsk-on-Amur is the easternmost oil refinery in Russia. Rosneft operates shipping companies, pipeline companies and marketing companies.
As of 29 December 2006, the market value of the company was US$83.908 billion. Capitalization of Russian stock market increases 1.6% on Thursday
Rosneft's headquarters are located in the Balchug district in the center of Moscow, only a few steps away from the Kremlin, across the Moskva river.
Rosneft wants to extract 140 million tonnes of oil by 2012 and become a global top three energy company. In 2007 the group, which became Russia's leading extraction and refinement company when it bought former oil giant Yukos's assets at auction, is aiming for a 103-million-tonne production. It produced about 80 million tonnes last year.^[2]

Contents

Current events

Management

See also

References

External links

Current events

In 2004 the company agreed to merge with Gazprom. The merger plans were discarded in May 2005 because Rosneft president Sergey Bogdanchikov did not wish to take a lesser role in the integrated company answering to Gazprom CEO Alexei Miller.
On December 22, 2004, Rosneft bought the Baikal Finance Group, which three days earlier had won a government fire sale of Yuganskneftegaz (Yugansk), the main production subsidiary of the beleaguered oil company Yukos. Yugansk was being sold in lieu of back taxes owed by Yukos.
Since 2004, a series of auctions have been organized by Yukos’ bankruptcy administrators to sell of various ‘lots’ of Yukos assets, the majority of which have been won by Rosneft. Most recently, in June 2007, Rosneft paid $731 million for Yukos transportation assets. Rosneft Gets More of Yukos
The purchase of Yukos assets has considerably increased Rosneft’s debt burden, but the company plans to add to profitability by tripling its refining capacity and expanding into China. Bogdanchikov has said the company’s plan is to reduce debt to 30% of total assets by 2010. Rosneft goes on absorbing YUKOS

Management

As of December 2006, the Board of Directors of Rosneft consists of Igor Sechin (Chairman, Deputy Chief of Russia's Presidential Staff), Sergey Bogdanchikov (President of Rosneft) Hans Jorg Rudloff (Chairman of the Committee for Audit, CEO of the Barclays Capital bank), Andrey Kostin (Chairman of the Committee for Staff and Fees Allocation, CEO of Vneshtorgbank), Alexander Nekipelov (Chairman of the Committee for Strategic Planning, Vice-President of the Russian Academy of Sciences), Kirill Androsov (Deputy Minister of Economic Development and Trade of Russia), Sergey Naryshkin (Deputy Chairman, Chief of Staff of Russia's Government), Gleb Nikitin (Deputy Chairman) and Andrey Reus (Deputy Minister of Industry and Energetics of Russia). Rosneft's Board of Directors
As of December 2006, the Management Committee of Rosneft consists of Sergey Bogdanchikov (President), Nikolay Borisenko (First Deputy President), Sergey Kudryashov (another First Deputy President), Anatoly Baranovsky (Deputy President), Stepan Zemlyuk (Deputy President), Sun Ne Kim (Chief Accountant), Peter Lloyd O'Brien, Rizo Tursunov (Deputy President). Rosneft's Management Board

See also

★ Yuganskneftegaz

References

1. ОАО "НК "Роснефть". Консолидированная финансовая отчетность за годы, оканчивающиеся 31 декабря 2006, 2005 и 2004 гг.
2. http://afp.google.com/article/ALeqM5j0Q5kmr4Wvi7nJXM9HmzrJH4K-cQ

External links

★ Rosneft:Initial Public Offering Or Ostracism?

★ Rosneft site

★ Yahoo! - OAO Rosneft Oil Company Company Profile