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PJSC Rosneft Oil Company (Russian: Роснефть, romanized: Rosneft', IPA: [ˌrosˈnʲeftʲ] stylized as ROSNEFT) is a Russian integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, extraction , production, refining, transport , and sale of petroleum, natural gas, and petroleum products.
The biggest Russian oil company is Rosneft followed by Lukoil, Surgutneftegaz, Gazprom Neft and Tatneft. [24] All oil trunk pipelines (except Caspian Pipeline Consortium) are owned and operated by the state-owned monopoly Transneft and oil products pipeline are owned and operated by its subsidiary Transnefteproduct. [citation needed]
Russneft was founded in September 2002 by Mikhail Gutseriev, a Russian businessperson and philanthropist, with support from the Swiss company Glencore. [3] It included early oil-production operations in West Siberia, Ulyanovsk, the Saratov and Penza regions, Udmurtia, and the Komi Republic.
Rosneft posted record profits last year thanks to an oil price rally as demand recovered on easing pandemic restrictions.
BP has swung to a quarterly loss after taking a mammoth 25.5 billion US dollar (£20.4 billion) hit following its move to quit Russia, but soaring oil prices saw underlying profits hit their ...
BP owns a 19.75% stake in the Russian oil company, while the Russian government owns around 40% of the business. The stake was worth around 14 billion dollars on BP’s books at the end of 2021.
TNK-BP was a major vertically integrated oil company in Russia and Ukraine, formed in 2003 by a partnership between BP and a group of Russian businessmen. It was the third-largest oil producer in Russia and had operations in Vietnam, Venezuela and Brazil, until it was acquired by Rosneft in 2013.
Russia's Rosneft, which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has set up a new Geneva-based trading business, four trading sources familiar with ...