BP has decided to abandon its stake in Russia’s state-owned oil giant Rosneft in response to Moscow’s invasion of Ukraine, in a move that will have huge financial consequences for the UK firm. Rosneft accounts for around half of BP's oil and gas reserves and a...
The largest offshore natural gas field in the Mediterranean, Egypt’s Zohr field, has started production, bringing the country closer to its goal of being energy self-sufficient. The giant gas field is operated by Italian energy firm Eni, which owns 60% of the field along with Russia’s...
Rosneft is set to invest in gas pipelines in Iraq’s Kurdistan, a move which increases the Russian oil giant’s commitment to the region and will enable it to become a major exporter of gas to Turkey and Europe. The Kurdistan Regional Government (KRG) confirmed that Rosneft...
Chinese energy major CEFC China Energy has announced it will purchase a 14.16% stake in Russian oil giant Rosneft at a cost of US$9.1 billion. The Chinese firm will acquire the position from a consortium between Glencore and the Qatar Investment Authority (QIA), signalling a closer...
Rosneft (MCX:ROSN) is set to announce the completion of a US$12.9 billion deal to buy private Indian refiner Essar Oil, as the Russian oil giant looks to consolidate its ties with the world’s fastest growing fuel consumer. Under the purchase, the state-owned firm will head a...
Just days after revealing plans to invest US$8.4 billion in offshore Arctic exploration, Rosneft (MCX:ROSN) has announced the discovery of oil in the Eastern Arctic. The discovery was made by experts drilling a prospective well on the shelf of the Khatanga Bay in the Laptev Sea,...
Rosneft (MCX:ROSN) and its partners are planning to invest US$8.4 billion in developing Russia’s offshore oil industry over the next five years, with a particular focus on establishing projects along the continental Arctic shelf. Russia currently produces nearly 11 million barrels per day (bpd) of crude...
Rosneft (MCX: ROSN) has begun drilling of a well in the Northernmost region of the Russian Arctic shelf, drawing praise from President Vladimir Putin. The Tsentralno-Olginskaya-1 well was tapped in the Laptev Sea using an onshore facility drilling horizontally, and is the first of its kind...
Russia’s largest oil producer Rosneft (LSE:ROSN) has agreed an oil exploration deal with the National Oil Corporation (NOC) of Libya. Prior to the tumultuous period culminating in the overthrow of Colonel Gaddafi in 2011, Russia held significant investments in Libya, and is now looking to regain...
Italian energy firm Eni (BIT:ENI) has sold a stake in Egypt’s Zohr gasfield, worth US$1.1 billion, to state-owned Russian oil giant Rosneft (MCX:ROSN). This sale represents Eni’s ongoing ‘dual exploration model’, which aims to cash in on its most recent discovery, following a similar deal struck...