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With Russian President Vladimir Putin in India, Rosneft slams Indian taxation system

With Russian President Vladimir Putin in India, Rosneft slams Indian taxation system

Fri, Oct 05, 2018

The Indian market's potential is unparalleled and "that's why we love to invest in India," he said at a business event here. However, India needs to streamline its taxation system with international regime and not double tax foreign investors, he said.

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Essar Oil picks Trafigura, BP for $1 billion oil-backed loan, as Indian refiner`s new owners seek to diversify financing base

Essar Oil picks Trafigura, BP for $1 billion oil-backed loan, as Indian refiner`s new owners seek to diversify financing base

Tue, Mar 20, 2018

Russian oil major Rosneft, fund UCP and Swiss commodities trader Trafigura bought Essar Oil`s large refinery, 3,500 fuel stations  and  infrastructure for $12.9 billion last year. Essar Oil has long relied entirely on funding from Indian banks while the new shareholders want to reduce exchange costs by adding alternative financing sources and directly use dollars to buy its oil instead

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Despite lawsuits, Russia's Rosneft says not after Sistema's assets

Despite lawsuits, Russia's Rosneft says not after Sistema's assets

Wed, Dec 13, 2017

A Russian court froze $1.7 billion of assets on Tuesday, at Rosneft`s behest, prompting Sistema`s shares to fall by 9 percent in early trade on Wednesday. 

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Russia's Rosneft says managing exit from OPEC deal is a serious challenge

Russia's Rosneft says managing exit from OPEC deal is a serious challenge

Wed, Nov 15, 2017

Russian Energy Minister Alexander Novak met Russian oil company executives in Moscow on Wednesday ahead of talks in Vienna at the end of November between OPEC and non-OPEC producers.

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Essar Oil-Rosneft deal impact: ICICI Bank's exposure reduces by 50%

Essar Oil-Rosneft deal impact: ICICI Bank's exposure reduces by 50%

Mon, Aug 21, 2017

 Essar Oil on Monday completed its deal with Russia's Rosneft. Few banks have large exposure to the Essar Group and with this deal concluded it comes as a sign of relief. 

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Essar Oil-Rosneft Rs 83,000 crore deal concludes; eyes to pay Rs 4000 crore to Indian lenders

Essar Oil-Rosneft Rs 83,000 crore deal concludes; eyes to pay Rs 4000 crore to Indian lenders

Mon, Aug 21, 2017

All-cash sale deal consists of Essar Oil's 20 million tonne refinery at Vadinar in Gujarat and 3,500 retail outlets across the country.

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Petya ransomware virus is back amid cyber attack - Swiss agency

Petya ransomware virus is back amid cyber attack - Swiss agency

Tue, Jun 27, 2017

Russia`s top oil producer Rosneft said a large-scale cyber attack hit its servers on Tuesday, with computer systems at some banks and the main airport in neighbouring Ukraine also disrupted. 

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JLF gives nod to Rs 86,000 crore Essar Oil-Rosneft deal

JLF gives nod to Rs 86,000 crore Essar Oil-Rosneft deal

Fri, Jun 23, 2017

The sale transaction decision (Essar Oil-Rosneft deal) was announced on October 15, 2016 when Prime Minister Narendra Modi met Russia's Vladimir Putin in BRICS Summit held in Goa. 

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Russia's Rosneft CEO says takeover of India's Essar is closed

Russia's Rosneft CEO says takeover of India's Essar is closed

Thu, Jun 22, 2017

The deal, where Rosneft will hold a 49 percent stake, will allow the Russian company to increase oil refining output by 20 percent this year.

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Russian Rosneft's $12.9 billion Essar Oil deal held up over debt issues

Russian Rosneft's $12.9 billion Essar Oil deal held up over debt issues

Thu, May 11, 2017

Sources said some lenders might be seeking to gain concessions on other debt with Essar units before giving their approval.

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Essar says hopes to close sale to Rosneft-led consortium in next few weeks

Essar says hopes to close sale to Rosneft-led consortium in next few weeks

Fri, Mar 31, 2017

"The parties are working towards obtaining the requisite approvals to complete the transaction. We are hopeful that the deal will be completed in the upcoming few weeks," Essar said. 

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Oil wars: How Kremlin's $13 billion Indian deal almost fell apart

Oil wars: How Kremlin's $13 billion Indian deal almost fell apart

Wed, Nov 16, 2016

Putin`s spokesman Dmitry Peskov denied there was any Kremlin intervention in the deal. 

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ICICI, Axis, StanChart gets back Rs 16,600 crore of Essar Group loans

ICICI, Axis, StanChart gets back Rs 16,600 crore of Essar Group loans

Sat, Oct 22, 2016

The remaining 2% will be held by minority shareholders after delisting of Essar Oil.

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Deal with Rosneft is U.S. sanctions-compliant, says Prashant Ruia

Deal with Rosneft is U.S. sanctions-compliant, says Prashant Ruia

Mon, Oct 17, 2016

He said the deal did not violate the economic sanctions imposed by the U.S. government on Russian entities over Russia`s role in the Ukraine crisis. "The way it is structured, it is fully compliant. We are well within the rules that govern Russian companies."

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Russia's Rosneft, partners to invest nearly $13 billion in India's Essar Oil:CEO

Russia's Rosneft, partners to invest nearly $13 billion in India's Essar Oil:CEO

Sat, Oct 15, 2016

A group led by Russian oil major Rosneft will invest around $12.9 billion (nearly Rs 85,820.5 crore) in India's Essar Oil, Chief Executive Igor Sechin told reporters on Saturday.

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Russian oil majors Rosneft, Gazprom Neft raise output of hard-to-recover crude

Russian oil majors Rosneft, Gazprom Neft raise output of hard-to-recover crude

Mon, Sep 26, 2016

Russian oil majors Rosneft and Gazprom Neft are raising the share of production from hard-to-recover reserves, to counter declining conventional output, showing the complexities facing producer nations seeking to tackle a global oversupply of crude.

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Rosneft Q2 profit tumbles 33% on low oil prices

Rosneft Q2 profit tumbles 33% on low oil prices

Mon, Aug 15, 2016

Rosneft's total revenue suffered a 7.8% drop, falling to $19.2 billion, slightly exceeding the expectations of analysts quoted by Russia's Interfax news agency. 

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Essar Oil's fuel exports to fall in 2018-19 as focus shifts to local sales

Essar Oil's fuel exports to fall in 2018-19 as focus shifts to local sales

Sun, Aug 07, 2016

Indian refiner Essar Oil's fuel exports will sharply drop in 2018/19 as it ramps up local sales by doubling its retail network and turns some of its naphtha into profitable gasoline, its managing director said.

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ONGC Videsh completes $1.3 billion stake acquisition in Russian field

ONGC Videsh completes $1.3 billion stake acquisition in Russian field

Tue, May 31, 2016

The field, which has recoverable reserves of 2.5 billion barrels, will give OVL 3.3 million tonnes per annum of oil production. 

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