26 Facts About Rosneft

Rosneft specializes in the exploration, extraction, production, refining, transport, and sale of petroleum, natural gas, and petroleum products.

Rosneft was founded in 1993 as a state enterprise and then incorporated in 1995, acquiring a number of state-controlled gas and oil assets.

Rosneft is the third largest Russian company and the second-largest state-controlled company in Russia in terms of revenue .

Rosneft operates in more than twenty countries around the world.

Rosneft has played a major role in the history of Russia's oil industry.

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Rosneft struggled financially and operationally during the 1998 Russian financial crisis with decreased production due to poor assets and decreased retail sales with an underused refining capacity.

Rosneft owned two obsolete refineries and several low-productive and poorly managed oil-producing assets.

On 22 December 2004, Rosneft had purchased Baikal Finance Group which bought Yuganskneftegaz, a main asset of Yukos, three days earlier at a state-run auction for US$9.

Subsequently, Rosneft filed a lawsuit against Yukos in connection with the use of the understated transfer prices for the purchase of oil from Yuganskneftegaz prior to its breakup.

In May 2007, Rosneft won a number of auctions for the sale of Yukos' assets, including five refineries and oil companies Tomsk Oil Company and Samara Oil and Gas Company, making it the largest oil company in Russia.

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.

Rosneft undertook exploration on the shelf in the Ochamchira area, discovering preliminary reserves estimated at 200 million to 500 million tons of oil equivalent.

In 2014, Rosneft exported 47 thousand tons of oil products to Abkhazia.

Since 2015, Rosneft started supplying aviation fuel for Sukhumi Babushara Airport.

On 30 August 2011, Rosneft announced that instead of BP the partner for EPNZ-1, EPNZ-2 and EPNZ-3 in the Kara Sea will be ExxonMobil.

In exchange, subject to approval by U S regulators, in addition to a share in oil production in Russian fields, Rosneft was granted participation in U S fields in Texas and the Gulf of Mexico.

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.

Week beginning 19 April 2022, Rosneft attempted to sell millions of barrels of Urals, one of three main export-grade crude oils sold by Russia.

Rosneft is among the largest natural gas producers in Russia, with a total gas production of 12.

Rosneft is engaged in exploration and production across all key oil and gas regions of Russia: Western Siberia, Southern and Central Russia, Timan-Pechora, Eastern Siberia, the Far East, and the shelf of Russia's Arctic Ocean.

Rosneft is second-to-none in terms of total proved liquid hydrocarbon reserves.

Rosneft has been ranked as among the 13th best of 92 oil, gas, and mining companies on indigenous rights and resource extraction in the Arctic.

However, in early November 2006, a number of journalists pointed out that the Priobskoye oil field of which it is owned by RN-Yuganskneftegaz, a subsidiary of Rosneft acquired from Yukos, produced the largest oil fracture in Russia with specialists of Newco Well Service.

From 2009 to 2010, Rosneft remains one of the largest customers of the oilfield services company Schlumberger, which specializes in hydraulic fracturing.

Rosneft was added to the SSI on July 16 2014, and was sanctioned by the EU on September 8 2014.

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However, Rosneft refused to publish its information of top managers, citing that it is only applicable to "state companies and other organizations created by federal laws, " to which it does not believe itself to be.