Search Result for : Rosneft

The Dollar Business Bureau Prime Minister Narendra Modi on Monday thanked Russian President Vladimir Putin and Petroleum major Rosneft, for their support and commitments to the Indian energy sector. He was referring to the $12.9 billion deal by Rosneft to acquire debt-ridden Indian refiner Essar Oil, which the two leaders helped to seal and has strengthened ties between the biggest producer and the third largest consumer of oil in the world. Modi, however, said that the status of the energy sector in India is highly uneven, while interacting with the CEOs and experts from oil and gas industry from across the world, in a meeting held in New Delhi.  The Prime Minister sees scope for further reforms in India’s oil and gas sector and ...

The Dollar Business Bureau A major deal between Essar Oil and a consortium led by Russian oil major Rosneft completed a $12.9 billion deal today. Rosneft will get a 49% stake in Essar, while the other two major investors Trafigura, a European trader and a Russian fund UCP, will hold the other 49% in equal parts. This acquisition is one of the largest outbound deals between India and Russia in recent times since the Soviet era. The consortium has picked a trading veteran from its shareholders to run the Indian operations of the newly acquired Essar oil company. The deal to acquire Essar Oil has been in the process for 2 years, with this acquisition Rosneft has gained access to Indian rising retail ...

The Dollar Business Bureau A consortium of oil companies from India, including Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Ltd (BPRL), is going to acquire 23.9 percent share in JSC Vankorneft and 29.9 percent share in Tyngd from LLC RN Upstream, a fully-owned arm of Rosneft Oil Company, national oil company of Russia. The definite definitive contracts for the same were signed on March 16, 2016. “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to an Indian Consortium comprising Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat Petro Resources Limited (BPRL) for acquiring 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) ...

The Dollar Business Bureau International oil firms like Saudi Aramco, Total SA and BP plc are planning to tap India’s retail fuel market, Oil Minister Dharmendra Pradhan said on Friday. This clearly reflects the increasing role of the country in the crude landscape of the world, he said. The fuel market of world's fastest growing economy can be a lucrative prize for the global oil majors seeking retail outlets for diesel and gasoline. The country has registered the fastest growth in oil demand across the world during the first quarter of CY 2016. India is replacing China as the driver of global growth, as per the International Energy Agency’s latest report. Saudi Aramco wants to enter the Indian market and the Indian Government ...

The Dollar Business Bureau ONGC Videsh Ltd. (OVL) and Rosneft Oil Company have completed the acquisition of 15% shares in Vankorneft JSC, ONGC said in an announcement on Tuesday. In September last year, ONGC had signed a proposal to acquire 15% stake in Russia’s second biggest oil field of Vankorneft from Rosneft for $1.27 billion. “The closed transaction is symbolic for both the companies and marks transition to a new level of cooperation in the Russian-Indian relations in the sphere of energy,” Rosneft said in a statement. “ONGC gets substantial interest and relevant rights in one of the biggest large-scale projects of Rosneft of the last decade, whereas Rosneft retains major shares in the project and will operate on the field through the ...

ONGC Videsh has signed a proposal to acquire 15% stake in Vankor oilfield, considered a vital source of Russian oil to China The Dollar Business Bureau A file-photo of an oil production platform at the Sakhalin oil gas project in Russia ONGC Videsh has signed a proposal to acquire 15% stake in Vankor oilfield, considered a vital source of Russian oil to China, for $1.3 billion. The oilfield located in east Siberia, started commercial production in 2009, with reserves of 500 mn tonnes of crude oil and 182 bn cubic meters of gas, and produces 440,000 barrels a day. The field discovered in 1988, is the largest field in Russia and key provider of volumes to the East Siberia Pacific Ocean (ESPO) Pipeline. ...

Anagreement wassigned between three Indianoil majorsto buy theshare of Russias Taas-Yuriakh in East Siberia The Dollar Business Bureau Multilateral trade deal signed to secure 29.9% shares in Taas-Yuriakh, Russia in East SiberiaWith an aim to acquire 29.9% shares in Russias Taas-Yuriakh in East Siberia, various large oil companies from India signed a contract on Wednesday. Bharat Petroleum Corporation limited (BPCL) and its production and exploration arm, as well as Oil India Ltd. (OIL) and Indian Oil Corporation Ltd. (IOCL) signed a definitive contract with Rosneft, a national oil company of Russia. OIL, IOCL and BPRL also signed a contract with Rosneft and an MoU for apossible stake in the Vankor cluster field. TYNGD is currently producing around 20,000 bopd, which is expected to be ...

The Dollar Business Bureau Rosneft, Oil India and Indian Oil Corporation (IOC) vow for their long term partnership in developing one of the largest greenfields of East Siberia   Russian oil major Rosneft has signed agreements with Indian oil and gas majors ONGC Videsh, Oil India, and Indian Oil Cooperation (IOC) to jointly undertake oil exploration and hydrocarbons production activities. The fresh deals that came after Prime Minister Narendra Modi’s visit to Moscow are expected to strengthen India’s position in the energy sector with the engagement of its public sector units in oil exploration overseas. Rosneft has entered into an agreement with Oil and Natural Gas Corporation Limited (ONGC) Videsh to carry out geologic survey, exploration and production of hydrocarbons activities. ...