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New strategic Partnership between Glencore and Qatar Investment Authority relating to Rosneft

Glencore and QIA have concluded various agreements which provide for the establishment of a 50:50 consortium (the Consortium).

The Consortium has entered into agreements in connection with the further privatisation of Rosneft whereby the Consortium will acquire from Rostneftegaz a 19.5% interest in the issued share capital of Rosneft (the Shares) for €10.2 billion (the Consideration). Under the proposed arrangements, Glencore will commit €300 million in equity (the Glencore Equity) and QIA will commit €2.5 billion in equity to the Consortium with the balance of the consideration for the acquisition of the Shares to be provided by non-recourse bank financing, principally by Intesa Sanpaolo S.pA., with Russian banks also providing financing and credit support.

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Rosneft Receives First Tranche of Advance Payment from CNPC

Rosneft announces that the Company received the first tranche of advance payment from China National Petroleum Corporation (CNPC). The payment was received in two parts in line with the schedule agreed by the parties.

The Company receives the advance payment following the long-term crude oil supply contracts signed by Rosneft and CNPC during St Petersburg International Economic Forum in June 2013.

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Siemens CEO Kaeser meets Russian President Putin

Siemens President and CEO Joe Kaeser and Russian President Vladimir Putin met today for detailed talks in the Russian city of Tuapse. Russian Economics Minister Alexei Ulyukayev, the president of the Russian state oil company ROSNEFT, Igor Sechin, and the CEO of Siemens Russia, Dietrich Moeller, were also present at the meeting. The occasion was the opening of a new ROSNEFT refinery, in whose construction Siemens participated.

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Rosneft and Eni Sign Completion Deed on Three Offshore Projects in Russia

  • Completed formation of organizational structures for cooperation in offshore projects development in the Barents Sea and in the Black Sea
  •  Signed definitive agreements, fulfilled terms and conditions required for deals completion

Rosneft and Eni S.p.A., acting through their subsidiaries Rosneft JV Projects S.A. and Eni Energy Russia BV, signed Completion Deed for the Russian offshore projects (regarding Fedynsky, Central Barents blocks in the Barents Sea and Western Chernomorsky block in the Black Sea).

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