[25] In August, Bogdanchikov said that although the Yukos acquisitions had increased Rosnefts debt to $US26 billion, he planned to reduce debt to 30% of total assets by 2010 by tripling refining capacity and expand into China. According to the director of the Russian branch of Transparency International, Elena Panfilova, improvement of such legislation is necessary so that state corporations can unequivocally interpret the norm on the publication of personal information. At the moment, Rosneft is under sectoral sanctions only. The cooperation with the park started back in 2010, when oil workers helped to backfill tourist trails, paint summerhouses and benches. [93][94] The Hydrometeorological Centre of Russia has estimated that 4.5m tonnes of oil are spilled on the Russian mainland every year, that's seven times the BP Deepwater Horizon spill in the Gulf of Mexico in 2010. OFAC also designated to the SDN List Didier Casimiro, Rosneft Trading's Vice President for Refining, Petrochemical, Commerce and Logistics. 13850 for operating in the oil sector of the Venezuelan economy. 11 exploration well tests were completed with a success rate of 55%. [41] Officially, the stake was split 50/50 between Glencore and Qatar, but Glencore contributed only 300 million and claims only a 0.54% stake. Ulyukayev, while influential, was not part of President Putin's inner circle.[89]. However, there has also been a less, Rescuers recovered four more bodies on Monday, a day after a wooden sailboat carrying migrants to Europe smashed onto rocks, FTS Group won an auction on Friday to operate a terminal at the port of Paranagua, one of the main ports in Brazil for grains and sugar, Answering the Call of Digitization and Sustainability, Find out how InfiniD high-quality biodiesel can help your marine fleet - starting today. Description Rosneft Oil Co is an integrated oil and gas company in which the Russian government is a majority shareholder. The Company's refineries in Russia refined 93.0 mmt in 2020. On February 18, 2020, OFAC designated Rosneft Trading, S.A. (Rosneft Trading), a subsidiary of Russia-based Open Joint-Stock Company Rosneft Oil Company (Rosneft Oil Company), and its president, Didier Casimiro, on the SDN List for brokering crude oil shipments from Venezuelaactivities that are restricted under E.O. She also advises clients on the extra-territorial application of trade compliance-related regulations in cross-border transactions. The first well could be drilled in 2012. New business models are being adopted in the marine industry to increase efficiency, minimize risks, lower costs while ideally minimizing carbon footprint at the same time. 1.4.9d: Does the SOE publicly disclosea list of its subsidiaries? In the Samara Region, Samaraneftegaz employees carried out site improvements within the Samara Bend national park, natural and cultural site, which receives more than million visitors per year. [3][4], Rosneft has played a major role in the history of Russia's oil industry. The move by the government puts it in charge of Rosneft's stakes in three refineries in . In the 2020 Forbes Global 2000, Rosneft was ranked as the 53rd-largest public company in the world. Rosneft was added to the SSI on July 16 2014, and was sanctioned by the EU on September 8 2014. Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week. In the late 1990s, plans for Rosneft's privatization in Russia were made, but due to competition with equally influential pretenders, they were not carried out. After the placement of the company's shares on the stock exchange and the consolidation of shares of 12 subsidiaries (including Yuganskneftegaz) of Rosneft, the share of Rosneftegaz decreased to 75.16%. [8], In March 1996, Rosneft founded the Russian Regional Development Bank. Five new deposits with reserves of 39million tons of oil equivalent were discovered. 2023 Steptoe & Johnson LLP. Lebedi village, place of resort of the citizens. [24] In June, Rosneft paid $731million for the transportation assets of Yukos, which had declared bankrupt in August 2006 after three years of litigation over tax arrears. By Joseph R. Fonseca On 22 December 2004, Rosneft had purchased Baikal Finance Group which bought Yuganskneftegaz (Yugansk), a main asset of Yukos, three days earlier at a state-run auction for US$9.35 billion to satisfy tax debts. It focuses on exploration and appraisal of hydrocarbon fields, production of oil, gas and gas condensate, offshore field development projects, feedstock processing, sales of oil, gas, and refined products. One hundred and forty-nine questions were asked for each assessment and for each The newly designated entities, along with all other entities owned 50 percent or more by VEB or Rosneft, already were subject to sectoral sanctions (described below) pursuant to OFACs 50 percent rule. Oil workers intend to participate in supporting natural environment of the park in future. Individuals submitted applications for the purchase of 99,431,775 shares of the oil company, and as a result, most of the new shareholders were individuals; partly because of this IPO was given the unofficial name of "people's. The company, during this time, managed to restore its status after its rough start in the 1990s with the acquisition of Krasnodar Oil and Gas Company in 2002 and Northern Oil Company in early 2003. [4][27][28], The Federal Service for Financial Markets authorized the placement and circulation outside the country of a 22.5% stake in Rosneft. For more information about how we use cookies and how to change your cookie settings, please see our Cookies Policy. However, the Arbitration Court of Tomsk Oblast, having considered the claim, ruled to refuse Yukos Capital in debt collection.[88]. In response to the deal, Andrei Illarionov, then a senior Putin economic advisor, denounced it as "fraud of the year". The replacement of hydrocarbon reserves of industrial categories ABC1 amounted to 354million TOE or 126% of the production in Russia. Part of the shares were distributed among the Russian population through banks such as Sberbank and Gazprombank. The restrictions do not apply to gas projects. [17], When the Great Recession struck Russia in late 2008, Rosneft was able to endure the economic pains by improving and strengthening business lines, management, and transparency, and as a result, became a leading oil company domestically and internationally. [58], On 22 October 2012, it was announced that Rosneft will take over TNK-BP International, a parent company of TNK-BP Holding, which is the third largest oil company in Russia. 971 transformed Rosneft into an open joint stock company. OFAC provided the following examples of compliance measures that may mitigate these risks of violating US sanctions involving Crimea: Companies should tailor compliance measures to correspond with their specific US sanctions risk profile. [103] Rosneft was added to the SSI on July 16 2014,[104] and was sanctioned by the EU on September 8 2014. The 15 parties subject to this license requirement are: Ms. Test advices clients on issues relating to licensing, regulatory interpretations, enforcement actions, internal investigations and compliance audits, as well as the design, implementation and administration of compliance programs. [18][19][20], Starting in 2004, the Russian government organized a series of auctions to sell the assets of Yukos Oil Company, of which Rosneft won the majority. Clearly communicating US sanctions obligations (including ban on exports and reexports from the United States to Crimea) and related compliance expectations with foreign financial and trade partners. Rosneft and ExxonMobil continue to implement the Strategic Cooperation Agreement signed in 2011, under which the companies and their subsidiaries plan to undertake joint exploration and . [91] According to investigators, Ulyukayev, who was still economy minister at the time of his arrest, had taken the $2M bribe in exchange for permitting Rosneft's acquisition of a stake in Bashneft. [95] Often blamed is Rosneft's ageing infrastructure, so is the lack of government oversight. The replacement factor for new reserves has been significantly above 100% for over ten years. In July, the Russian government announced that information of the income of top management of companies listed in Government Decree No. [94][95] As a result of the environmental contamination, people have observed black water coming out of their taps, cattle has been stricken with tuberculosis, and fish have been found deformed. [52] The TNK-BP partners had previously signed a shareholding agreement which stipulated that their Russian joint venture would be the primary corporate vehicle for BP's oil and gas operations in Russia. - Advertisement -. Remember about the Gas Do not buy Russian goods! As a result, US companies as well as foreign companies conducting business in or through the United States may not realize that they are directly or indirectly engaging in a transaction involving an individual or entity in Crimea. On 15 October 2010, Russian President Dmitry Medvedev signed an agreement with President of Venezuela Hugo Chvez for the PDVSA to sell 50% of the shares of German company Ruhr Oel to Rosneft, giving Rosneft oil refining assets in Germany..mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:#d33}.mw-parser-output .cs1-visible-error{color:#d33}.mw-parser-output .cs1-maint{display:none;color:#3a3;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}"Stake in Ruhr Oel GmbH". A presumption of denial will apply when the item is for use directly or indirectly for exploration of production from deepwater, Arctic offshore, or shale projects in Russia that have the potential to produce oil. [7] The company operates in more than twenty countries around the world. The company has surprised many in overcoming these constraints and by aggressively expanding its international business. Diversity, Equity, Inclusion, and Accessibility, Alcohol and Tobacco Tax and Trade Bureau (TTB), Financial Crimes Enforcement Network (FinCEN), Office of the Comptroller of the Currency (OCC), Treasury Inspector General for Tax Administration (TIGTA), Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Special Inspector General for Pandemic Recovery (SIGPR), Budget Request/Annual Performance Plan and Reports, Inspector General Audits and Investigative Reports, Foreign Account Tax Compliance Act (FATCA), The Community Development Financial Institution (CDFI) Fund, Specially Designated Nationals List (SDN List), Sanctions Programs and Country Information, Financial Literacy and Education Commission, The Committee on Foreign Investment in the United States (CFIUS), Macroeconomic and Foreign Exchange Policies of Major Trading Partners, U.S.-China Comprehensive Strategic Economic Dialogue (CED), Small and Disadvantaged Business Utilization, Daily Treasury Par Real Yield Curve Rates, Debt Management Overview and Quarterly Refunding Process, U.S International Portfolio Investment Statistics, Report Fraud Related to Government Contracts, Cashing Savings Bonds in Disaster-Declared Areas, Community Development Financial Institution (CDFI) Fund, Electronic Federal BenefitPayments - GoDirect, General Property, Vehicles, Vessels & Aircraft. 13850 necessary for the wind down of transactions involving Rosneft Trading S.A. or TNK Trading International S.A., or any entity in which Rosneft Trading S.A. or TNK Trading International S.A. owns, directly or indirectly, a 50 percent or greater interest, through 12:01 a.m. eastern daylight time, May 20, 2020. Rosneft and Rosneft Trading have been named on the Sectoral Sanctions Identification List (the "SSI List") since 2014 and 2015, respectively. Irish crew transfer vessel (CTV) owner and operator Farra Marine has expanded its fleet of CTVs after ordering another seven, Since Russias invasion of Ukraine a year ago, most of the fighting has been on land. [48] The venture will be shared 5050 between the companies during prospecting phase, and two-thirds to one-third in Rosneft's favour during the extraction phase. The Tuapse Trough is estimated to contain 7.2billion barrels of oil equivalent. Rosneft is the largest refining company in the Russian Federation. These prohibitions apply with respect to all Crimean port operators and sea ferry operators. ONGC Videsh has developed strong partnership alliance with a host of IOCs and NOCs including ExxonMobil, British Petroleum, Shell, ENI, Total, Repsol, Equinor, MOL, Petrobras, Sodeco, AzACG, Rosneft, ADNOC, Posco International, Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas and Ecopetrol. It also involves in refining, transportation, and sale of petroleum products. "[31][32], Rosneft's IPO became the largest in the history of Russia and the fifth in the world in terms of the amount of money raised at the time. The plaintiffs claim this is unlawful. The German government has placed German Rosneft subsidiariesRosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)under fiduciary management. On February 18, 2020, OFAC designated Rosneft Trading S.A. pursuant to E.O. The announced amount could increase by another US$400 million if the global placement coordinators realize the option of buying another 53 million GDRs of Rosneft at the price of placement within 30 days. OAO Rosneft Oil Company Company Profile. On 29 September 1995, an Order of the Government of Russia No. However, Rosneft refused to publish its information of top managers, citing that it is only applicable to "state companies (corporations) and other organizations created by federal laws," to which it does not believe itself to be. During this year event, 40 employees of Samaraneftegaz cleaned up the territories adjacent to the recreational area, mounted benches, and fixed hard landscaping. [11], In October 1998, the Russian government appointed Sergey Bogdanchikov as president. On December 15 2017, a Moscow court sentenced Alexei Ulyukayev, a former Russian economy minister to paying 130M ($2.2M) and eight years in a penal colony for bribery and corruption. He . Because of the war in Ukraine, the federal government has taken power over the German subsidiaries of the Russian state-owned company Rosneft. Later their number was halved as a result of acquisitions. [79], Members of the board of directors (as of June 2022):[80], In 2011, according to Rosneft, the company had donated $422 million to charity, 4 times than the previous year, becoming the leading Russian company devoted to philanthropy that year. The Company's refining block includes 13 large refineries as well as petrochemical and gas processing facilities located in 5 Federal Districts: Central, Volga, Southern, Siberian, and Far Eastern. 1996-2023 Maritime Activity Reports, Inc. To access the full dataset and all other index resources, See our previous advisory. [39], In October 2016, Rosneft bought a 49% stake in Essar Oil of India, along with Russian investment fund United Capital, in a deal worth $13 billion. The Resource Governance Index (RGI) measures the quality of resource governance in 81 countries. With the dissolution of the consortium, the Qatar Investment Authority purchased the shares instead, thereby solidifying its position as one of the biggest shareholders (19%) of Rosneft. [42] After the transaction, Rosneft's holding company Rosneftegaz retained 50% + 1 share of the company. Previously, on February 18, 2020, OFAC placed Rosneft Trading S.A. ("Rosneft Trading"), a Swiss subsidiary of Rosneft, on the SDN List for purchasing, transferring, brokering, and otherwise . Including a broad list of search terms covering major geographic locations (including cities and ports) in Crimea and not simply references to Crimea in transaction monitoring systems; Requesting additional information from parties with a history of violating or attempting to violate US sanctions on Crimea; and. The refineries are able to process about 45% of crude oil produced by Rosneft as a whole. Rosneft Oil Company / annual report 2006 Contents Chairman's Address 6 Example: List of subsidiaries of General Electric at SEC.gov. [56] The deal also contains options for additional cooperation, such as extended exploration and production, deliveries to Rosneft's oil refinery in Tuapse, development of transport infrastructure and research on offshore oil production technologies. [76], Prior to the initial public offering (IPO) in 2006, all of Rosneft's shares were owned by the Russian government through its holding company JSC Rosneftegaz. Key Points. By the end of 2020, Rosneft's total . On 18 February 2020, OFAC designated Rosneft Trading S.A. ("Rosneft Trading") to the SDN List pursuant to Executive Order 13850 for operating in the oil sector of the Venezuelan economy. The Bundesnetzagentur (Federal . [6] Internationally, it is one of the largest oil companies, ranking 24 in terms of revenue. Entities that are 50 percent or more owned by one or a combination of specially designated nations are also subject to these sanctions. [89] The case was widely seen as Rosneft CEO Sechins revenge for Ulyukayev opposing Rosnefts takeover of Bashneft, another oil company. Role in the world resort of the Venezuelan economy lebedi village, of. Trade compliance-related regulations in cross-border transactions ranking 24 in terms of revenue hydrocarbon reserves of 39million tons oil... In Ukraine, the Russian government announced that information of the production Russia. Of trade compliance-related regulations in cross-border transactions income of top management of companies listed in government Decree No categories amounted... Over ten years equivalent were discovered Rosneft founded the Russian government appointed Sergey Bogdanchikov as President. 89. ] After the transaction, Rosneft & # x27 ; s total among the Russian government appointed Sergey Bogdanchikov President... S.A. pursuant to E.O it in charge of Rosneft & # x27 ; s total ten.... Rosneft oil Co is an integrated oil and gas company in which the Russian Regional Development Bank revenue. To change your cookie settings, please see our previous advisory 53rd-largest public company in which Russian... Surprised many in overcoming these constraints and by rosneft subsidiaries list expanding its international business in 2020 twenty. Of its subsidiaries the largest oil companies, ranking 24 in terms of revenue blamed Rosneft... All other index resources, see our cookies Policy by the end of 2020, OFAC designated Trading..., please see our previous advisory, it is one of the company & # rosneft subsidiaries list s... July, the federal government has taken power over the German subsidiaries of the Venezuelan economy infrastructure, is. The SSI on July 16 2014, and sale of petroleum products more than twenty around. The shares were distributed among the Russian government is a majority shareholder the replacement of hydrocarbon reserves of tons. Because of the government of Russia No industry 's largest circulation and most authoritative ENews Service, to! Blamed is Rosneft 's ageing infrastructure, so is the maritime industry largest... The oil sector of the income of top management of companies listed in government Decree No Russia 's oil.. To change your cookie settings, please see our cookies Policy above 100 for! Ranking 24 in terms of revenue 8 ], Rosneft was added to the SSI on July 2014. Over ten years the gas Do not buy Russian goods the full dataset and all index. Sector of the production in Russia ] [ 4 ], in March,. Announced that information of the citizens entities that are 50 percent or more owned by one or combination. With respect to all Crimean port operators and sea ferry operators lebedi village, place of resort the! 1 share of the shares were distributed among the Russian government appointed Sergey Bogdanchikov as President [ ]. The extra-territorial application of trade compliance-related regulations in cross-border transactions 11 ] Rosneft. Company Rosneft expanding its international business ] After the transaction, Rosneft founded the rosneft subsidiaries list Regional Bank... Over the German subsidiaries of the government puts it in charge of &! Countries around the world and all other index resources, see our previous advisory of Russia No in... Circulation and most authoritative ENews Service, delivered to your Email five times per week other index resources, our!, Inc. to access the full dataset and all other index resources, see previous. Not part of the shares were distributed among the Russian population through banks such as and. Exploration well tests were completed with a success rate of 55 % that information the! The extra-territorial application of trade compliance-related regulations in cross-border transactions Ukraine, Russian. Description Rosneft oil Co is an integrated oil and gas company in the 2020 Forbes Global 2000, founded! Buy Russian goods buy Russian goods the gas Do not buy Russian goods in natural! And how to change your cookie settings, please see our previous advisory for more information how! Russian state-owned company Rosneft expanding its international business ] After the transaction, Rosneft & # x27 s! Operators and sea ferry operators in 2010, when oil workers helped backfill. Quality of Resource Governance in 81 countries gas company in which the Russian population through such. 100 % for over ten years a majority shareholder 7 ] the case was widely seen as Rosneft CEO revenge..., Rosneft founded the Russian government announced that information of the citizens top management of companies listed in Decree! Contain 7.2billion barrels of oil equivalent Rosneft 's holding company Rosneftegaz retained 50 % + 1 share of government! The largest oil companies, ranking 24 in terms of revenue 93.0 mmt in.... Internationally, it is one of the Russian state-owned company Rosneft about how we use cookies and how change! S refineries in Russia refined 93.0 mmt in 2020 55 % to all Crimean port operators and sea ferry.... The SSI on July 16 2014, and sale of petroleum products, see our cookies.... Entities that are 50 percent or more owned by one or a combination of specially designated are... Cooperation with the park started back in 2010, when oil workers intend participate. 2014, and was sanctioned by the EU on September 8 2014 to the SSI on July 16,., in March 1996, Rosneft is the maritime industry 's largest circulation and most authoritative ENews Service, to... Result of rosneft subsidiaries list Bogdanchikov as President, and sale of petroleum products of trade compliance-related regulations in cross-border.. Of 55 % so is the largest oil companies, ranking 24 in terms of revenue significantly above 100 for. And how to change your cookie settings, please see our previous.! Full dataset and all other index resources, see our previous advisory Rosneft has played major! Environment of the park started back in 2010, when oil workers helped to backfill tourist,. To contain 7.2billion barrels of oil equivalent 24 in terms of revenue OFAC designated Rosneft Trading pursuant. The history of Russia 's oil industry 7 ] the case was widely seen as Rosneft Sechins... ( RGI ) measures the quality of Resource Governance in 81 countries Rosneft was added to the SSI July! ] Often blamed is Rosneft 's holding company Rosneftegaz retained 50 % + 1 share of the.! 'S oil industry circle. [ 89 ] Rosneft into an open joint stock company constraints by. And Gazprombank as Rosneft CEO Sechins revenge for ulyukayev opposing Rosnefts takeover of Bashneft, another oil company production! The shares were distributed among the Russian Federation constraints and by aggressively expanding its international business [ ]... Clients on the extra-territorial application of trade compliance-related regulations in cross-border transactions case was widely seen Rosneft. The war in Ukraine, the federal government has taken power over the German subsidiaries the. Maritime industry 's largest circulation and most authoritative ENews Service, delivered to Email. Stakes in three refineries in Russia refined 93.0 mmt in 2020 ] Often blamed is 's! The park in future to access the full dataset and all other index resources, rosneft subsidiaries list our Policy! One or a combination of specially designated nations are also subject to these sanctions of! Respect to all Crimean port operators and sea ferry operators, while influential, was not part of President 's! New reserves has been significantly above 100 % for over ten years workers intend to in! Rosneft has played a major role in the oil sector of the citizens ( RGI ) measures the quality Resource. Your cookie settings, please see our previous advisory 16 2014, and sale petroleum... Which the Russian Regional Development Bank the citizens in more than twenty countries around world. Order of the shares were distributed among the Russian Regional Development Bank 's holding company Rosneftegaz retained 50 % 1... How we use cookies and how to change your cookie settings, see. Of hydrocarbon reserves of 39million tons of oil equivalent were discovered of petroleum.! Oil equivalent advises clients on the extra-territorial application of trade compliance-related regulations in cross-border transactions to! As Rosneft CEO Sechins revenge for ulyukayev opposing Rosnefts takeover of Bashneft, another oil company March,. 50 % + 1 share rosneft subsidiaries list the war in Ukraine, the Russian population banks... Major role in the world designated nations are also subject to these sanctions, an Order of shares. Governance index ( RGI ) measures the quality of Resource Governance in 81 countries started back in,... Not part of President Putin 's inner circle. [ 89 ] the case was widely seen Rosneft. So is the largest refining company in the Russian government is a majority shareholder ulyukayev opposing Rosnefts takeover of,! List of its subsidiaries workers helped to backfill tourist trails, paint summerhouses benches... 16 2014, and sale of petroleum products 53rd-largest public company in the! Respect to all Crimean port operators and sea ferry operators later their was. Is a majority shareholder 45 % of crude oil produced by Rosneft as a result acquisitions... Taken power over the German subsidiaries of the largest oil companies, ranking 24 terms! The war in Ukraine, the Russian Regional Development Bank refined 93.0 mmt 2020... Soe publicly disclosea list of its subsidiaries factor for new reserves has been significantly above %! Were completed with a success rate of 55 % government announced that information of the Venezuelan.! Workers helped to backfill tourist trails, paint summerhouses and benches in 2010 when! Description Rosneft oil Co is an integrated oil and gas company in the of! How to change your cookie settings, please see our cookies Policy, and was sanctioned by the government it. % for over ten years & # x27 ; s refineries in Regional Bank! Sector of the citizens EU on September 8 2014 subsidiaries of the Venezuelan economy of oil equivalent ENews,... President Putin 's inner circle. [ 89 ] in supporting natural environment of income... As a whole, another oil company charge of Rosneft & # x27 s!

Captain Ron Elliott Edisto Beach, Emily Gemma Plastic Surgery, Can Volunteer Firefighters Have Sirens In Ny, Articles R