Rosneft

Russian, Saudi oil giants to benefit from Biden’s anti-oil agenda

The growing number of Western countries aiming for net-zero emissions by 2050 and the U.S. Administration’s drive to limit oil and gas extraction on federal land and waters are likely to benefit the biggest oil firms in Russia and Saudi oil giant Aramco, analysts and portfolio managers told Bloomberg, Oil Price informs. While major developed economies are vowing to ‘build back greener,’ the world will still run on oil, and the beneficiaries, at least in the short term, will be the oil firms in countries that haven’t pledged net-zero targets and whose major oil companies are doubling down on oil production

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Oil production in Russia falls to ten-year low

According to the data of the Central Dispatching Department of the Fuel Energy Complex,  oil and gas condensate production in Russia decreased by 8.6% - to 512.68 million tons in 2020. Thus, the largest reduction was documented in …

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Rosneft reappoints Sechin as CEO

Russian energy giant Rosneft re-appointed Chief Executive Igor Sechin for another five years. Sechin has been at the helm of Rosneft since 2012. His existing five-year contract expires this month.  Rosneft, with …

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Rosneft withdraws from all projects in Venezuela

Rosneft has completely discontinued its operations in Venezuela and withdrawn from all projects in the country, including exploration and production entities, as well as oilfield services companies, Chief Executive Officer of Russia’s oil …

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China shies away from Russian oil?

China’s state oil company Sinochem Corp is rejecting any crude cargo "from or related to" Russia’s state oil major Rosneft before U.S. sanctions on a Rosneft unit take effect in May, two sources with direct knowledge of the …

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