EU clears GE-Rosneft IoT joint venture buyout

The company will focus on the development, implementation and operation of industrial Internet of Things applications

Rosneft closes $1.1bn Zohr field oil deal

Rosneft has bought a 30% stake in the Zohr gas field for $1.125 billion (£850m). The Russian state-owned energy giant acquired the stake, which is the largest in the Egyptian sector of the Mediterranean Sea, from Italian company Eni S.p.A. The agreement stipulates a strategic partnership between Rosneft and Eni, which will own a 60% […]

Finnish-Russian firms to develop oil spill response tech

A Russian energy firm has teamed up with a Finnish company to develop response equipment for oil spills. Rosneft and Lamor Corporation have agreed to set up a joint venture in Russia to evaluate prospects of localising production of the technology for the Arctic region. The equipment will be manufactured at a Rosneft ship building […]

Rosneft, partners close $12.9bn deal to buy Essar Oil

Rosneft and its partners have finalised their $12.9 billion (£10bn) takeover of India’s Essar Oil. The Russian company and global trader Trafigura and Russian fund United Capital Partners have bought a 98.26% stake, with the rest held by retail investors. They will take over the Vadinar refinery in the state of Gujarat, which has the […]

Russia drills new Arctic oil well

Russia’s state-owned oil company has started drilling a new well on the Russian Arctic shelf. Rosneft’s Tsentralno-Olginskaya-1 well is part of the Khatangsky license area at the northernmost point of the region. President of Russia Vladimir Putin launched exploration drilling via video link with Rosneft Chief Executive Officer Igor Sechin, who was on the shore […]

Age of oil is not over yet, says Rosneft chief

The idea of the age of oil coming to an end is “premature”. That’s the view of Igor Sechin, CEO of Russian energy giant Rosneft, who believes innovative technologies will help the industry face current challenges. His comments come as oil prices have plummented, reaching a 12-year low last month, which has led to thousands […]

Russia’s Rosneft buys oilfield service firm

Russian company Rosneft has bought an oilfield service company. Its subsidiary now has full ownership of Trican Well Service, which provides pressure pumping services focused on production within the conventional oil and gas industry in Russia. Rosneft said the new purchase will allow it to “increase economical and production efficiency in the area oil recovery […]

Rosneft to get 100% control of oil project in Brazil

Rosneft is to get 100% control of an oil project in Brazil. The Russian energy giant’s subsidiary in Brazil will buy 55% shares of the Solimoes project from brazilian company PetroRio. The transaction has been approved by the Brazilian National Petroleum, Natural Gas and Biofuels Agency (ANP). The Solimões project, located in the Amazonas, has […]

Russia’s Rosneft and Rosatom sign co-operation agreement

Russian energy giant Rosneft has signed a co-operation agreement with state-owned nuclear company Rosatom. The two companies will work together in areas including exploration of technologies and equipment, offshore operations and support in the Arctic as well as energy efficiency projects. They will also develop and approve a ‘Scientific Technical Co-operation Programme’. “To carry out […]

Arctic oil discovery for Rosneft and Exxon

Russian energy giant Rosneft has discovered oil with its US project partner Exxon Mobil in the Arctic. It said drilling at the Universitetskaya-1 well in the Kara Sea region of the Arctic Ocean was completed in a “record-breaking” one and a half months. Igor Sechin, Head of Rosneft said: “I can inform you about the […]