«Роснефть» и консорциум индийских инвесторов подписали соглашения о вхождении в Ванкорский проект

MIL OSI – Source: Rosneft in Russian – Press Release/Statement

Headline: «Роснефть» и консорциум индийских инвесторов подписали соглашения о вхождении в Ванкорский проект

Сообщаем Вам, что с марта 2015 г. ПАО «НК «Роснефть» приступает к организации электронных закупок на электронной торговой площадке ЗАО «ТЭК-Торг» (ЭТП) в секции ПАО «НК «Роснефть» (адрес в сети Интернет http://rn.tektorg.ru).
Информацию о порядке регистрации в секции ПАО «НК «Роснефть» на ЭТП ЗАО «ТЭК-Торг» и порядке получения электронной подписи Вы можете получить в разделе «Нормативные документы» на главной странице ЭТП (адрес в сети Интернет http://rn.tektorg.ru).
По всем возникшим вопросам касательно участия в закупках на ЭТП вы можете обратиться в службу поддержки по телефону + 7 (495) 221-02-23 или отправить письмо на адрес rn@tektorg.ru.

«Роснефть» и BP создают совместное предприятие по разработке перспективных ресурсов Восточной и Западной Сибири

MIL OSI – Source: Rosneft in Russian – Press Release/Statement

Headline: «Роснефть» и BP создают совместное предприятие по разработке перспективных ресурсов Восточной и Западной Сибири

Сообщаем Вам, что с марта 2015 г. ПАО «НК «Роснефть» приступает к организации электронных закупок на электронной торговой площадке ЗАО «ТЭК-Торг» (ЭТП) в секции ПАО «НК «Роснефть» (адрес в сети Интернет http://rn.tektorg.ru).
Информацию о порядке регистрации в секции ПАО «НК «Роснефть» на ЭТП ЗАО «ТЭК-Торг» и порядке получения электронной подписи Вы можете получить в разделе «Нормативные документы» на главной странице ЭТП (адрес в сети Интернет http://rn.tektorg.ru).
По всем возникшим вопросам касательно участия в закупках на ЭТП вы можете обратиться в службу поддержки по телефону + 7 (495) 221-02-23 или отправить письмо на адрес rn@tektorg.ru.

Financial results for Q1 2016

MIL OSI – Source: Rosneft –

Headline: Financial results for Q1 2016

June 8, 2016


  • Generating FCF at RUB 80 bln, high operating cash flow at RUB 234 bln, with average Urals price at 32 USD/bbl
  • Increase in EBITDA margin up to 26% in conditions of crude oil price decline
  • Decrease in lifting costs per unit by 1.3% to 155 RUB/boe with CPI exceeding 7%
  • Decrease in net debt by 44.8% to USD 23.9 bln from Q1 2015

Consolidated IFRS financial results for Q1 2016:

 
Financial results
Total revenue and equity share in profits of associates and joint ventures   
EBITDA
EBITDA margin
Net income attributable to Rosneft shareholders
Net income margin
Free cash flow 1
Upstream operating expenses/boe
 
 
Total revenue and equity share in profits of associates and joint ventures   
EBITDA
Net income attributable to Rosneft shareholders
Gross debt
Net debt
Free cash flow
For reference
Average Urals price, USD per bbl
Average Urals price, th.RUB per bbl

1 Excluding the effect of interest expense and effect from prepayments under long-term supply oil agreements.
2 Calculated using average monthly Central Bank of Russia exchange rates for the reporting period. Gross debt and net debt are estimated using the closing exchange rate of Central Bank of Russia as of March 31, 2016, December 31, 2015 and March 31, 2015, respectively.

Commenting the results for Q1 2016, I.I. Sechin, Chairman of Rosneft Management Board, said:

“With remaining inflation process in the economy and negative market conditions the Company improved the implementation of strategic initiatives with the focus on the business efficiency. Lifting costs were down to 155 RUB/boe (2.1 USD/boe) in Q1 2016 compared to Q4 2015 and Q1 2015, which contributed to improvement in EBIDTA margin. Rosneft has a strong lead in upstream capex and opex at 4.1 USD/boe and 2.1 USD/boe, respectively, with Russian and foreign peers exceeding the Company’s levels by 2-8 times. The Company keeps generating positive free cash flow despite capex went up by 20% driven by intensive development of new projects in Upstream. In conditions of negative macroeconomic environment the Company sustains stable level of operating cash flow which supports financing of planned capital investments and timely meeting of all liabilities”.

Financial performance

Total revenue and equity share in profits of associates and joint ventures

In Q1 2016 revenues amounted to RUB 1,048 bln (USD 14.5 bln), declining by 12.4% compared to Q4 2015 due to decreased crude oil prices by 13.2% in RUB terms. The Company efficiently used high margin trading channels for crude oil and oil products and managed to compensate negative effect from price decline and fully met the obligations under long-term oil supply agreements and the obligations for petroleum products sales on the domestic market.

In Q1 2016 gas sales increased by 13% compared to Q4 2015 thanks to efficient management of contracts portfolio which compensated for negative effect from deteriorating market conditions.

EBITDA

In Q1 2016 lifting costs amounted to 155 RUB/boe (2.1 USD/boe ) which was lower than in Q4 2015 and Q1 2015.

In Q1 2016 income before interests, income tax and depreciation (EBITDA) amounted to RUB 273 bln, declining by 1.8% vs Q4 2015. In conditions of crude oil price decline by 13.2% in RUB terms, negative effect of increased tax burden from January 1, 2016, and growth in tariffs of natural monopolies (av. 6-12%) the Company increased EBITDA margin up to 26% driven by an improvement in cost management and sales structure.

EBITDA decreased by 14.4% compared to Q1 2015 due to negative effects of external factors (crude oil price decline (RUB – 110 bln), higher tax burden effect (RUB – 22 bln)) which were not sufficiently offset by RUB depreciation.

Net income attributable to Rosneft shareholders

In Q1 2016 net income was at RUB 14 bln. Decline of net income compared to RUB 53 bln in Q4 2015 resulted from EBITDA decrease, mentioned above, and from recognition of one-offs from insurance compensation and sales of investments in the total amount of RUB 38 bln in other income at the end of 2015.

Capital investments

In Q1 2016 capital expenditures amounted to RUB 154 bln (USD 2.1 bln) which was 17% lower compared to Q4 2015 due to seasonal factor.

20% growth in capital expenditures in Q1 2016 compared to Q1 2015 was in line with Company’s business plan for 2016-17 approved by the Board of directors in December 2015, resulting from increased wellworks to launch Suzun and Yurubcheno –Tokhomskoe fields and from extensive wellworks at Rospan license areas.

Free cash flow

In Q1 2016 free cash flow was at RUB 80 bln (USD 1.5 bln) which was down by 38.5% compared to Q1 2015 due to lower EBITDA and increase in capital expenditures in comparison to last year. Meanwhile, despite of 40% drop in oil price the Company keeps leadership in free cash flow generation at 3.2 USD/boe.

Debt burden

Since the end of Q1 2015 net debt was down by 44.8% in USD terms and amounted to USD 23.9 bln. Net Debt/EBITDA ratio was at 1.23x in USD terms as of the end of Q1 2016. The Company reduced net debt twofold and boosted dividends by 43% while foreign peers were mainly raising debt burden to maintain the dividend payments.

Rosneft Information Division

tel.: +7 (495) 411 54 20

fax: +7 (495) 411 54 21

June 08, 2016

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

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Финансовые результаты за I кв. 2016 г.

MIL OSI – Source: Rosneft in Russian –

Headline: Финансовые результаты за I кв. 2016 г.

8  2016


  • 80 ., 234 . Urals 32 . /.
  • EBITDA 26%
  • 1,3% I . 2015 . 155 ./…, 7%
  • 44,8% 23,9 . I . 2015 .

I . 2016 .:

 
 
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,
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I . 2016 . 80 . (1,5 .), 38,5% I . 2015 ., EBITDA . 40%- – 3,2 ./… .


I . 2015 . 44,8% 23,9 . EBITDA I . 2016 . 1,23 . 2 43%, .



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Rosneft will report its Q1 2016 consolidated IFRS financial results on Wednesday, June 08, 2016

MIL OSI – Source: Rosneft –

Headline: Rosneft will report its Q1 2016 consolidated IFRS financial results on Wednesday, June 08, 2016

June 6, 2016


Q1 2016 IFRS financial results and corresponding MD&A will be available on our web site on June 08, 2016 after 10.00.

Conference call will be held on June 08, 2016 at 17.00 Moscow time (15.00 London time/10.00 New York time). Dial-in numbers are below.

United Kingdom
Russia (Moscow)
Russia (Freephone)
United States
All other locations
Password: Rosneft

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Rosneft commences drilling in the Sea of Okhotsk

MIL OSI – Source: Rosneft –

Headline: Rosneft commences drilling in the Sea of Okhotsk

June 2, 2016


JV of Rosneft and Statoil ASA started drilling the exploration well in the Sea of Okhotsk.

The signal to begin drilling was given by the Rosneft Chairman of the Management Board Igor Sechin during the work at the rig Nanhai-9.

“Implementation of the offshore projects in upstream is one of the Company’s most important strategic goals, a contribution to the whole oil and gas industry. Rosneft is the country’s only company that continues the work on new projects offshore in accordance with its license obligations despite the complicated external environment. We are pleased to commence the key stage of project within the scope of the long-term cooperation with our partner – Statoil – the drilling of exploration wells in the Sea of Okhotsk” – Igor Sechin said.

Well Ulberikanskaya-1 will be drilled at the prospect of the same name in Lisiansky license area one year ahead of the license obligations. The distance from the port of Magadan to the well is about 420 km. The second well of Rosneft and Statoil project will be also drilled during the 2016 season within Magadan-1 section in the Sea of Okhotsk.

Semi-submersible rig Nanhai-9 was delivered by China Oilfield Services Limited (COSL) which signed a contract for drilling with the joint venture of Rosneft and Statoil in September 2015. The rig was transported through the South China Sea, the East China Sea, the Sea of Japan and the Sea of Okhotsk; to reach the point of drilling, the rig traveled a long way of more than 4600 nautical miles. Nanhai-9 was specially modified for the drilling project in the Sea of Okhotsk: in particular, a comprehensive preparation of the rig was implemented to enable its operation at low ambient temperatures, wind protection was installed on the perimeter of the drilling site, a range of services were held to ensure environmentally safe operations. The Sea of Okhotsk lies south of the Arctic zone boundary, the sea depth in both drilling sites is less than 150 m.

Note for editors:

Rosneft and Statoil ASA signed a Cooperation Agreement in 2012 to jointly explore areas of the Russian shelf and for Rosneft to join in the exploration of the Norwegian shelf. Under this agreement, the companies set up joint ventures, completed a series of exploration operations including 2D and 3D seismic and geotechnical surveys.

Rosneft is committed to all of its offshore drilling obligations every year. The Company plans to keep the pace of the large-scale exploration program. In 2016, in addition to the drilling of two exploration and appraisal wells on the shelf of the Sea of Okhotsk, it is planned to acquire more than 26,000 km of 2D seismic; more than 2,000 km2 of 3D seismic; 67,000 km2 airborne geophysical surveys and a number of other jobs.

To date, the exploration license commitments of the Company (total 55 areas with about 43 billion tons of total oil equivalent hydrocarbon resources) on the continental shelf are fully met well ahead of time and in excess of the required amount of work at a number of sites.

Rosneft has performed an unprecedented scope of comprehensive geological and geophysical studies on the Russian shelf. More than 84,000 meters of 2D seismic were shot which exceeded the requirements of the license obligations more than twice. The Company also shot more than 18,000 km2 of 3D seismic which is almost 3 times higher than the license obligations. Airborne geophysical survey covered more than 636,000 km2 which is more than 3.5 times higher than the license obligations. An area of over 1 million km2 on the Russian shelf was explored.

In 2014, Arctic exploration and appraisal well 1-Universitetskaya was successfully drilled in the Kara Sea which discovered Pobeda oil and gas field that proved oil and gas potential of the north Kara petroleum province; operations are in progress at the northern tip of Chayvo field in the Sea of Okhotsk.

Rosneft Information Division

Tel.: + 7 (499) 517-88-97

June 2, 2016

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

«Роснефть» начала бурение в Охотском море

MIL OSI – Source: Rosneft in Russian –

Headline: «Роснефть» начала бурение в Охотском море

2  2016


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Igor Sechin and CSOC President Chen U Ing agreed main contract parameters for dock facility construction for Zvezda Shipyard

MIL OSI – Source: Rosneft –

Headline: Igor Sechin and CSOC President Chen U Ing agreed main contract parameters for dock facility construction for Zvezda Shipyard

June 1, 2016


During his business trip to the Far East Rosneft Chairman of the Management Board Igor Sechin had talks with China Shipbuilding&Offshore Co.Ltd. (CSOC) President Chen U Ing. The parties agreed major parameters of the contract between CSOC China Shipbuilding Industry Corporation (CSIC) subsidiary and FES Zvezda for load out barge construction and supply to Zvezda.

The 40,000 t load out barge is constructed to support the process of marine engineering facilities construction at the shipyard. It is expected that according to the contract, the Chinese companies will develop the design documentation, manufacture, test the dock in the town of Bolshoi Kamen and provide training for the crew.

This type of load out facilities is widely operated in the global shipbuilding practice, but has not ever been used in Russia. Bringing in a partner, a competent shipbuilding company from China which comprises all public shipyards in China north of Shanghai, mitigates the risks of the project. The experience of cooperation with China Shipbuilding Industry Corporation will allow continuing the interaction in the future for the construction of marine equipment of various complexity.

Note for editors:

Zvezda Shipyard is established on the basis of Far Eastern Shipbuilding and Ship Repair Center (FESRC) by Rosneftegaz, Rosneft and Gazprom consortium. Rosneft will provide pilot throughput for the shipyard anf it signed an exclusive agreement with FESRC (Far Eastern Shipbuilding and Ship Repair Center) regarding placement of all the orders for the manufacture of new marine equipment and vessels at its facilities, and contracts for design, construction and supply of two reinforced ice-class multi-functional support vessels. New vessels of about 100 meters can be operated in extremely tough environment for Rosneft offshore projects in the Northern seas. Two more supply vessels will be constructed additionally.

Rosneft does everything possible to implement shipyard construction project. To ensure brand new technologies of shipbuilding and marine equipment construction, the Company engages the equipment not previously used at the Russian shipyards.

BSIC was set up in 1898 and is now one of the largest shipyards of China. Its key focuses are designing, shipbuilding, repair and modification of vessels, construction of large steelwork, development and manufacturing of ships made of glass fiber reinforced plastic and overhead cranes. Annual production capacity is 2MM t of metal working.

Rosneft

Information Division,

June 1, 2016

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Rosneft delegation participated in the work of Russian-Chinese commission for energy cooperation

MIL OSI – Source: Rosneft –

Headline: Rosneft delegation participated in the work of Russian-Chinese commission for energy cooperation

May 31, 2016


Rosneft delegation participated in the thirteen session of the inter government Russian-Chinese commission for energy cooperation.

Rosneft is the leader in the Moscow-Beijing energy dialog, Company projects with Chinese partners are the key elements of the economic cooperation between the two countries.

Actual joint cooperation aspects were discussed at the event. The status of oil supply by Skovorodino-Mokhe and plans to expand transportation volumes in 2017 were analyzed by the participants in particular. Moreover, implementation of Tianjin Refinery construction project was discussed (the project is implemented by JV Vostok Neftekhimia, CNPC -51%, Rosneft – 49%). The parties welcomed the completion of the project feasibility study optimization.

Joint upstream projects of Rosneft with Chinese partners were also discussed during the meeting.

Moreover, during the meeting Rosneft conducted negotiations with CNPC, CNOOC and Sinopec top management. Actual aspects of current and future cooperation were discussed.

Note for editors:

Rosneft cooperation with Chinese partners covers all the key aspects of Company activities.

CNPC:

  • 2009 – entered into a contract for supply of 9+6 million tons of oil to China from 2011 to 2030
  • 2013 – entered into a contract for supply of 325 million tons of oil to China over 25 years

Sinopec:

  • JV for hydrocarbons production Udmurtneft has been successfully working since 2006 with annual production exceeding 6.4 mln tons (largest producing company of the region).
  • In December 2015 the companies signed memorandum of understanding regarding oil and gas chemistry cooperation in Eastern Siberia.

Rosneft

Information Division,

May 31, 2016

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Rosneft and Pertamina Laid Basis for Long-Term Cooperation

MIL OSI – Source: Rosneft –

Headline: Rosneft and Pertamina Laid Basis for Long-Term Cooperation

May 26, 2016


Rosneft and Pertamina signed a framework agreement on cooperation.

The Parties have agreed to perform a bankable feasibility study to finance the project of construction of the new refining and petrochemical complex Tuban in the eastern part of Jawa, Indonesia and establish a joint venture for the project implementation.

Earlier Rosneft led the competition for a share in the Tuban complex, launched by Pertamina. The final investment decision will be taken upon the results of the feasibility study, basic engineering design (BED) and front-end engineering design (FEED).

Also, the signed agreement envisages a study into the prospects for joint projects in the area of crude and oil products supplies, logistics and infrastructure, the potential for Pertamina to enter in Rosneft’s Upstream projects in Russia as an equity holder, and partnership in international joint projects for oil refining.

Indonesia is one of the most promising and rapidly growing economies of the region. The country is a net importer of motor fuels and petrochemicals. Implementation of the conditions of the signed agreement will enable Rosneft to expand its footprint on the Indonesian energy market and strengthen the status of the Russian Company as a reliable partner in oil and gas production and refining projects in the Asia-Pacific Region, as well as form a basis for development of upstream and downstream new joint projects in Russia and third countries.

Following the signing of the document, Rosneft Chairman of the Management Board Igor Sechin noted: «We welcome the signing of the agreement. The geographical location of Indonesia, at a crossroad between two oceans, the Pacific and Indian, opens for the country the way for turning into a global transportation and energy hub which could become a critical point for global economic growth. It is obvious that accomplishment of such a global task cannot be achieved without ensuring stable development of the national economy and its uninterrupted supply with energy and fuel resources. In this regard the establishment of partnership relations with Pertamina is the logical development of expanding Rosneft activities in the Asia-Pacific Region”.

Note for editors:

The design capacity of primary processing at the Tuban complex is 15 mln tons/year. It will run on imported medium and heavy grades of sulphurous crude. The project provides for the construction of a large fuel oil catalytic cracker and a petrochemical complex. The complex is assumed to be able to accommodate VLCC supertankers with deadweight of up to 300 thousand tons.

Indonesia is the largest APR country. The population exceeds 254 mln people (according to the Oxford Economics data for 2014). In 2015 the Indonesia GDP grew up by 4.79%.

Rosneft has a proven experience in implementing oil refining and petrochemical projects outside Russia. The Company participates in joint ventures in this area in Germany, Italy, and Belarus. The oil refining throughput outside Russia in the Rosneft share for 2015 amounted to 12.2 mln tons. In Q1 2016 Rosneft’s petroleum product output outside Russia equaled 3.26 mln tons (+25.8% year-on-year).

Rosneft Information Division

May 26, 2016

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

© Multimedia Investments Ltd Terms of Use/Disclaimer.