Hasi

Rosneft (BUY) publishes strong 9M 2008 financial results under GAAP: positive (Tuesday 09th of December 2008)


Rosneft published very positive 9M GAAP financial results. Revenue grew by 78% y-o-y to $58.2b, while operating costs rose by only 69% y-o-y to $44.3b. EBITDA skyrocketed by 89% to $17b and net income increased by 4% y-o-y to $10.3m.

EBITDA margin increased by 2p.p. to 29%, while net margin fell by 12 p.p. to 18% due to gains from Yukos bankruptcy proceedings in 9M 2007 ($7.9b). Net debt reduced by 26% y-o-y to $19.1b due to halving of ST debt from $15.5b to $8.4b. The company expects capex in 2009 to be at the level of 2008, but did not disclose an exact figure. Capex will only be decreased to reflect lower prices for materials.

We view the results as very positive, but expected due to the oil price peak in July 2008. We expect further full-year decline of financials due to the price drop since August and high tax levels in September-November, which made exports unprofitable (Rosneft is the leading Russian crude oil exporter).

Hasi

- There was various news last week concerning dividend payment by Rosneft (RTS: ROSN: U/R); first, Interfax reported that Rosneft may cancel dividend payment for 2008, but this was refuted by the company, which said that dividends may even be 10% higher than for 2007; we think that Rosneft will pay dividends despite the oil price slump and its huge investment program, but that their level will be the same or lower than for 2007; non-payment would entail reputational losses for Rosneft

Zander06

ja mal sehen, was der Kurs macht!

schönes WE Zander06

Hasi

..............Der grösste russische Ölproduzent Rosneft legte dennoch um stolze 4,4 % und der sibirische Ölriese Surgutneftegaz (904596) um 2,8 % immer noch deutlich zu. Gerüchten nach könnte es zu einer Fusion der beiden Ölgiganten kommen...........


boersenreport.de

Goldfisch

Sunday, 01 Mar 2009
Rosneft due to pay off USD 8.5 billion debt in 2009

Interfax citing Mr Peter O'Brien vice president of the oil producer's as saying that Rosneft is due to pay off USD 8.46 billion in debt this year.

Rosneft is due to pay USD 3.41 billion of this to Russian banks and the rest to foreign banks. It is due to pay USD 870 million to foreign banks this quarter; USD 4.12 billion in the second quarter, including USD 1.86 billion to foreign banks and USD 2.26 billion to Russian banks; USD 1.72 billion in the third quarter and USD 1.75 billion in the fourth quarter.

Rosneft reduced its net debt by USD 6.887 billion to USD 19.388 billion during the first nine months of 2008. Refinancing exceeded USD 16 billion last year.

Rosneft raised a syndicated Western pre-export loan facility of USD 1.35 billion at the end of January this year.

(Sourced from Interfax)

Quelle: Steel Guru

Zander06

na sehe heute gerade, dass die 38 Tage -Linie die 100 Tage-Linie von unten nach oben durchschneiden will, sollte ein gutes Zeichen sein auf höhere Kurse bei Rosneft.

Long and strong Zander06

Hasi

Rosneft and Transneft release net profit figures for 2008
04/01/2009 12:13

Both companies have posted a drop in net profit, as compared with the previous year, although not as steep as the one earlier reported by Gazprom. The posted results will be used as the basis for dividend calculations, meaning that dividends for 2008 will probably decline, despite expectations of growth in consolidated financial results.

On March 31, Rosneft and Transneft released their non-consolidated net profit figures for 4Q and FY 2008, based on RAS. In the fourth quarter, Transneft made a profit of RUB 894 million, while Rosneft suffered a loss of RUB 65 billion. For the full year, Transneft reported a net profit of RUB 3.682 billion, down 8.4% y-o-y, while Rosneft said that net profit had slumped 12.8% to RUB 141.4 billion.

We do not consider non-consolidated net profit under RAS as a revealing figure for the analysis of consolidated cash flows. Both oil majors expect a y-o-y rise in their consolidated net profit figures for 2008. However, it is non-consolidated profit on which dividend calculation is based and, therefore, dividends to be paid by both companies for 2008 are set to decline. Both pursue a conservative dividend policy, slating the bulk of net profit for capex.

According to our estimates, Transneft may pay a dividend of RUB 238 per preferred share for 2008. The company cannot allow itself to not pay dividends at all, as in this case, the holders of preferred shares would gain the right to vote at shareholder’s meetings, which would undermine the state’s monopoly control over the company. The closing date for the shareholder’s register is yet to be announced, but is expected to happen towards the end of May.

Rosneft may pay a dividend of RUB 1.4 per share. The company previously said the shareholder’s register would be closed on April 30. The company may actually cancel dividends for 2008 on the Russian government’s recommendations. However, in view of the latest trends on the oil market, this is unlikely to happen.

Zander06

frohe Ostern wünsche ich!

gruß von Zander06

Hasi

Hasi

Rosneft’s Board of Directors recommends a 20% increase in dividends to RUB 1.92 per share



On April 28, 2009 the regular meeting of Rosneft’s Board of Directors reviewed a number of issues related to the Annual General Shareholders’ Meeting, scheduled for June 19, 2009.

The Board issued a preliminary approval of the Company 2008 Annual Report and recommended to the General Shareholders’ Meeting to approve an annual dividend for 2008 of RUB 1.92 per share, an increase of 20% compared to 2007. Total dividend accrued, should the shareholders make a decision as recommended by the Board, will amount to RUB 20.3 bln or 14.4% of non-consolidated net income of OJSC Rosneft under the Russian accounting standards, and will be paid out before December 31, 2009.

The Board of Directors also approved the Agenda of the Annual General Shareholders’ Meeting that included the approval of the Annual Report, accounting statements, distribution of net income and form of dividend payment based on 2008 results, election of members of the Board of Directors and Internal Audit Commission, approval of the Company auditor, approval of the revised versions of Rosneft’s Charter and Regulations on management bodies and approval of related party transactions.

The following candidates were included into the voting ballots for the election of the Board:

- Vladimir Bogdanov – General Director of Surgutneftegaz Oil Company;

- Sergey Bogdanchikov – President of Rosneft Oil Company;

- Andrey Kostin – President and Chairman of the Management Board of VTB Bank;

- Alexander Nekipelov – Vice-President of the Russian Academy of Science;

- Yury Petrov – Head of the Federal Agency for State Property Management;

- Andrey Reus – General Director of OPK Oboronprom;

- Hans-Joerg Rudloff – Chairman of the Management Board of Barclays Capital;

- Igor Sechin – Deputy Prime Minister of the Russian Federation;

- Nikolai Tokarev – President of Transneft.

The list of candidates for election to the Internal Audit Commission includes 5 nominees. The Board of Directors recommended the approval of LLC Rosekspertiza as the Auditor of Rosneft annual accounting statements under the Russian accounting standards for 2009.

Besides, the Board of Directors recommended to the General Shareholders' meeting that it makes a decision on approval of a major transaction composed of a number of related contracts, which the Company enters into as part of the implementation of the Memorandum on cooperation in the oil industry signed by Russia and China on October 28, 2008.

The first part of the transaction is a 20-year contract for supplying oil to China. Under the contract, deliveries of 9 mln tonnes of crude oil per year will commence in January 2011. Crude oil will be delivered to the China National Petroleum Corporation (CNPC) or its affiliate. The price of the supply will be based on market quotes for Russian crude oil at the Kozmino marine terminal or Primorsk marine terminal (if volumes of Russian crude shipped via Kozmino are not sufficient to generate a market quote). Under the Russian-Chinese memorandum, oil shipments to China will total 15 mln tonnes per year. Additional 6 mln tonnes per year will be supplied by Transneft on similar terms. On April 10, 2009 Transneft and Rosneft signed an Agreement for selling 6 mln tonnes of oil to Transneft annually, on the terms similar to the shipments to CNPC. This Agreement is also submitted to the Annual General Shareholders' Meeting for approval as a related party transaction and will come in force after relevant corporate approvals.

The second part of the transaction is a 20-year USD 15 bln loan from China Development Bank. The interest is linked to LIBOR, and the margin is floating, changing in reverse to the rate of LIBOR. The loan has a 5-year grace period when only interest payments are to be made. USD 10 bln will be available to Rosneft in 2009, with the remaining USD 5 bln to be made available in 2010. The value, cost and duration of the loan are unprecedented not only for Russian corporate borrowers but also for the global capital markets in general.

In accordance with the Russian legislation, if a Joint Stock Company makes a transaction involving property with a total value of over 50% of the balance sheet value of its assets, and an approval for which requires a majority vote by three-quarters of the Company’s shareholders at the General Shareholders' Meeting, those shareholders, who vote against such a transaction or do not participate in the voting on this issue, shall be entitled to claim that the Company buys back all or a part of their shares. For this purpose, an independent appraiser hired by Rosneft – CJSC Professional Evaluation Center (PEC) – estimated the market value of 1 ordinary share of Rosneft at RUB 157. The valuation procedure was carried out in total compliance with the requirements of the Russian law. The international firm Deloitte, which was asked by Rosneft’s Board of Directors to review the valuation, confirmed to OJSC Rosneft that valuation methods used by the PEC are in compliance with relevant international standards. The Board of Directors approved the buyback price of Rosneft shares of RUB 157 per one ordinary share, which equals the value determined by independent appraisal.

The Annual General Shareholders' Meeting will be held on June 19, 2009 at 11:00 am, in the Central Complex of Exhibitions (Expocenter) at: Moscow, Krasnopresnenskaya ebm. 14, building 18, Pavilio

Hasi

Rosneft profitiert von Chinas Rohstoffhunger
Russland öffnet sich gegen Osten – Hohe Investitionen in Sibirien nötig – Höhere Gewinnmargen dank niedrigerer Abgaben



Gerhard Beck
Russland öffnet sich dem grossen industriellen Bruderland. Die Ölindustrie mit dem staatlich beherrschten Flaggschiff Rosneft an der Spitze setzt auf China als Absatzmarkt und als Sponsor von Grossprojekten. Das sind berechtigte Hoffnungen, weil das Land der Mitte gestärkt aus der Finanz- und Wirtschaftskrise hervorgehen dürfte (vgl. Artikel rechts).
In Kasachstan machen chinesische Investitionen 10% des Bruttoinlandprodukts aus. In Russland sind es bisher nur 2%. Moskau besitzt zwar mit über 400 Mrd. $ die dritthöchsten Devisenreserven. Die Privatwirtschaft ist jedoch gleichzeitig mit mehr als 400 Mrd. $ verschuldet, wovon 150 Mrd. in den nächsten zwölf Monaten refinanziert werden müssen. Westliche Banken halten sich mit Engagements in Schwellenländern jedoch zurück.
China braucht Öl
China springt gerne als langfristiger Finanzierer von Investitionen gegen Rohstofflieferungen ein. Rosneft wurde ein Kredit von 15 Mrd. $ mit einer Verzinsung von 6% gewährt. Dafür verpflichtet sich das Unternehmen, in den nächsten zwanzig Jahren 110 Mio. Barrel Öl ins Land der Mitte zu liefern. Der Konzern ist mit rund 19,2 Mrd. $ hoch verschuldet und nur bedingt kreditwürdig. Im Fernen Osten in der Nähe zu Japan und China will Rosneft trotzdem weitere 14 Mrd. $ in eine neue petrochemische Raffinerie investieren
Wie Europa seine Abhängigkeit von russischer Energie zu reduzieren versucht, will Russland seine Absatzmärkte diversifizieren. Da die Energieinfrastruktur aber auf Europa ausgerichtet ist, stehen noch grosse Anstrengungen an, um China versorgen zu können. Im Juni schloss Russland mit China ein Handels- und Investitionsabkommen mit einem Volumen von 3 Mrd. $ ab. De facto ist China nur an Energie- und Rohstofflieferungen aus dem Nachbarland interessiert.Russland sieht in China die einzige Chance, die wirtschaftlich zurückgebliebenen Regionen Sibiriens und des Fernen Ostens aufzubauen, und profitiert von der geografischen Nähe. Nur aus Russlands Nordosten und aus Zentralasien kann China kostengünstig mit Pipelines versorgt werden. Die meisten russischen Ölvorkommen, in denen gefördert wird, liegen jedoch noch in Westsibirien, in der Mitte zwischen China und Europa.Unternehmen, die Lizenzen im Fernen Osten oder Ostsibirien besitzen, haben für die Versorgung Chinas einen zusätzlichen Vorteil. Ein Drittel der Förderung von Rosneft liegt in Ostsibirien und auf Sachalin, unweit der chinesischen Grenze. Nur TNK-BP ist noch stärker in der Region positioniert. Das Unternehmen eignet sich jedoch wegen seines geringen Streubesitzes nicht als Engagement. Rosneft ist zudem federführend für die neuen grossen Förderprojekte Sachalin III und IV (vgl. FuW Nr. 54 vom 11. Juli).In den nächsten zwanzig Jahren rechnet der Kreml damit, dass die Ölexporte nach China 100 Mrd. $ ausmachen werden. Im letzten Jahr betrug das gesamte Handelsvolumen zwischen Russland und China erst 56,8 Mrd. $. Gegenwärtig verbraucht ein Chinese pro Jahr 2 Barrel Öl. In Taiwan oder Südkorea sind es bereits 18 Fass. China importiert derzeit täglich rund 4,2 Mio. Barrel Öl. Bis 1993 war es noch Ölexporteur gewesen. Aber für 2030 gehen die Analysten davon aus, dass sich die chinesischen Öleinfuhren um 62% erhöhen und das Land zum grössten Rohölimporteur der Welt werden wird. Die Reserven von Rosneft sind 2008 zwar 33,4% auf 17,5 Mrd. Barrel Öl gefallen. Die Förderung dagegen stieg um 9% auf 807 Mio. 2009 sollen 823 Mio. Barrel gefördert werden.
Enge Verflechtung
Die Ölausfuhren aus dem Osten Sibiriens werden vom Kreml niedriger besteuert als Exporte in den Westen. Rosneft erzielt so für ein Barrel ostsibirischen Öls fast einen doppelt so hohen Gewinn wie für Öl aus dem Westen Sibiriens. Höhere Einnahmen kann Rosneft gut gebrauchen. Im ersten Quartal 2009 fiel der Gewinn 19,7% auf 2,1 Mrd. $. Russland und sein grösster Ölkonzern treten in Verhandlungen meist in der Person von Igor Sechin auf. Er ist gleichzeitig Vizepremier und CEO von Rosneft. Das unterstreicht die gemeinsamen Interessen.
2008 entfielen nur bescheidene 5% der gesamten Rosneft-Ausfuhren an Öl und Gas auf China. 2015 sollen es bereits 25% und 2030 rund 40% sein. Die Rosneft-Aktien haben sich im Zuge der steigenden Ölpreise zwischen Februar und Ende Mai mehr als verdoppelt. Mittlerweile sind sie jedoch markant zurückgenommen worden (vgl. Chart). Auf dem tiefen Niveau sind sie zumindest längerfristig wegen der guten Aussichten im Osten Russlands kaufenswert, auch wenn sie mit einem KGV 2010 von 7 nicht billig sind.

Hasi

Rosneft nimmt Ölfelder in Abchasien ins Visier

SUCHUMI, 12. August (RIA Novosti). Ein Jahr nach der Anerkennung Abchasiens durch Russland nimmt der größte russische Ölproduzent Rosneft Ölvorkommen in dem jungen Kaukasus-Staat ins Visier.

Rosneft erwarte von der abchasischen Regierung eine Fördergenehmigung, um mit der Prospektierung beginnen zu können, teilte Unternehmenschef Sergej Bogdantschikow am Mittwoch am Rande der der Regierungskonsultationen in der abchasischen Hauptstadt Suchumi mit. Nach seinen Worten geht es um ein Ölfeld mit einer Fläche von rund 2 500 Quadratkilometer. Die erste Erkundungsphase könne bereits 2011 abgeschlossen werden, sagte Bogdantschikow, ohne Angaben über mögliche Fördermenge zu machen. Zudem wolle Rosneft zehn Tankstellen in Abchasien errichten.

Rosneft und das abchasische Wirtschaftsministerium hatten im Mai ein auf fünf Jahre angelegtes Abkommen über die Erkundung von Öl- und Gaslagerstätten in dieser ehemaligen georgischen Provinz geschlossen.

Hasi

MOSCOW, March 17 (Reuters) - Managers of defunct Russian oil firm YUKOS have won injunctions hitting payments by foreign customers to state oil major Rosneft, jeopardising delivery of up to a fifth of Russia's oil exports, sources told Reuters.

Rosneft's shares fell by as much as 3 percent on the news, which raised fears about the flagship company's exposure to a raft of lawsuits relating to some of its key assets.

Rosneft declined to comment on the injunctions but trade sources said they were part of a protracted legal battle between YUKOS and the Russian government. Moscow dissolved YUKOS in 2007 after hounding the company for massive back tax claims and most of its assets ended up with Rosneft.

'Under a worst case scenario, there could be chaos with payments and a complete deadlock of Rosneft's exports,' a trader with a global major told Reuters.

'The first market reaction was panic,' said the chief trader at UBS in Moscow, Maxim Gulevich.

Rosneft produces and exports over a fifth of Russia's overall crude volumes and its rapid growth has helped the country outpace Saudi Arabia as the world's largest oil producer.

'Even if Rosneft manages to solve this shortly, investor risk perception around the company may make a more permanent shift,' Ron Smith, head of Russian Research at Cheuvreux, said.

Industry sources said the injunctions had been issued this month and last month and relate to a Dutch court decision last year which ordered Rosneft to pay $389 million to a YUKOS unit, YUKOS Capital.

Claire Davidson, a spokeswoman for the former management of YUKOS, said Rosneft had not made the payment ordered by the court and declined to comment on the injunctions.

Rosneft could solve the export payment problem by paying the sum ordered by the Dutch court, but that could have broader significance for other, much bigger cases related to the demise of YUKOS.

Former YUKOS managers, creditors and shareholders took Russia to Europe's top human rights court this month, accusing Moscow of destroying the firm through illegal, crippling tax demands. They are seeking a record $98 billion in damages. .


LIFETIME-LONG LITIGATION

Once Russia's largest oil firm, YUKOS was destroyed by what its directors say was a Kremlin-inspired political campaign during the presidency of Vladimir Putin, who was consolidating his power at the expense of business tycoons.

Russian officials say YUKOS was a corrupt empire which repeatedly broke the law and needed to be brought to account.

Former YUKOS owner Mikhail Khodorkovsky, once Russia's richest man, is serving an eight-year prison sentence for fraud and tax evasion and could face a further 22 years behind bars if convicted in a second trial under way in Moscow.

Human rights organisations term him a political prisoner and have called for his release. The Kremlin says he is a convicted criminal paying the price for his law-breaking.

Rosneft sells most of its crude to global majors and traders. Three traders from such firms, who asked not to be named, said they were aware of the injunctions and believe them to be part of the 'life-long litigation' promised by YUKOS.

Such court battles will draw the Kremlin's ire. Putin and his key allies have fiercely defended their action against YUKOS and will not take kindly to Western courts questioning the legality of their actions.

'It looks like the injunctions affect all companies registered in the U.S. or UK. So it means it affects all oil majors, plus maybe big traders,' said another trader with a different global major.

'We are still being invited to buy crude but we are being asked to defer payments.'

A third trader said Rosneft had asked some customers to defer the opening of letters of credit, which oblige the customer to have the payment for its crude purchases written down from its accounts within 40 days of the deal.

'It won't affect Rosneft's oil production and probably exports, but it might have a negative impact on its working capital, at least in the short term,' said Oleg Maximov, senior oil analyst at Troika Dialog brokerage.

On Tuesday, Rosneft awarded its regular giant crude tender to radically different customers, with its most traditional buyers -- France's Total and Switzerland-based trader Gunvor -- emerging as the main losers.

It awarded the tender to Statoil, Chevron, ConocoPhillips, Italy's ENI, Turkey's Calik and hitherto unknown trader Warly International. With the exception of Chevron, the winners were very rare or even unprecedented buyers at tenders over the past two years.

One trading source said the change in customers might have been partly linked to the injunctions, although it could also have been simply dictated by pricing preferences.

Hasi

Payments to Rosneft for oil exports to the US and the UK may be frozen

18.03.10 10:35

In the worst-case scenario, Rosneft could lose up to 7% of revenue over the next few months. However, this is most likely a short-term problem, and the company will be able to solve it before long.

On March 17, Rosneft informed its British and American customers that their payments for crude purchases from the Russian oil company could be frozen. The threat arose after British and US courts issued their rulings in connection with Rosneft’s loss in a lawsuit filed against the company by ex-shareholders of Yukos.

Crude exports to the US and the UK generate about 7% of Rosneft’s total revenue. If the court rulings are put into practice, Rosneft could slow down the payment flow and resort to the accumulation of receivables on its books. Most likely, the company will do its best to avoid a direct impact on profit through some intermediary schemes; however, it could take Rosneft weeks, or even months, to devise them.

Apart from intermediary schemes, we expect Rosneft to file an appeal and challenge the court rulings. This, however, also promises to take some time, during which export payments may still stay frozen.

The present news could have a heavy downward impact on Rosneft equity prices. Moreover, we project the events to develop in a negative manner for Rosneft in the near future. However, from a fundamental standpoint, we reiterate out target for Rosneft at USD 9.21 per share, until the company works out a definite solution to the problem, given that it has all of the necessary means to do it.

Hasi

Yukos vs. Rosneft: Gerichtsurteile können Russlands Ölexport lahm legen



MOSKAU, 18. März (RIA Novosti). Geldüberweisungen in US-Dollar an den russischen Ölkonzern Rosneft sind de facto nicht mehr möglich, schreiben russische Zeitungen am Donnerstag.

Das sehen die in Großbritannien und den USA gefällten Gerichtsurteile zugunsten der Firma Yukos Capital vor, die den russischen Staat dazu auffordern, die Altschulden einer früheren Yukos-Tochter, die Rosneft übernommen hat, zu bezahlen. Experten warnen, dass die entstandene Situation sehr negative Folgen für europäische Verbraucher haben könnte.

Der Gegenstand der Auseinandersetzung zwischen Rosneft und der in Luxemburg registrierten Firma Yukos Capital sind vier Kredite in Höhe von insgesamt 11,233 Milliarden Rubel (1 Euro = ca. 40 Rubel), die Yukos Capital im Jahr 2004 der anderen Yukos-Tochter, der Firma Juganskneftegas, gewährt hatte. Beim „Ausverkauf" der Yukos-Aktiva nach der Insolvenz des Mutterkonzerns wurde Juganskneftegas an Rosneft verkauft. Der neue Eigentümer weigert sich allerdings, die alten Schulden zurückzuzahlen.

Im Grunde genommen sei durch die gefällten Gerichtsurteile ein Finanzembargo verhängt worden, das die Arbeit von Rosneft sehr erschweren könnte, wenn nicht gar lahm legen, sagte der Partner des Rechtsanwaltskollegiums „Jukow, Chrenow und Partner", Alexander Chrenow. Ein Ausweg aus der Situation wäre die Übergabe der Ölverkaufsrechte in Russland an Drittpersonen, die mit Rosneft nicht ganz offensichtlich verbunden wären, meinte er. „Das würde aber mindestens eine Korrektur der Exportpolitik des Unternehmens bedeuten und einen großen Finanzaufwand zur Folge haben", ergänzte der Experte.

Der Analyst von Uralsib Capital, Viktor Mischnjakow, ist dagegen der Meinung, dass Rosneft auf ein einziges Problem stoßen könnte, und zwar auf die Sperrung seiner Konten in britischen Banken, was allerdings noch nicht passiert sei. Die Rosneft-Konten in den Niederlanden und den USA seien leer, und die Bezahlung des Exportöls erfolge durch die Händler, fügte er hinzu.

„Rosneft ist ein großer Exporteur. Im vorigen Monat hat der Konzern vier Millionen Tonnen Rohstoff exportiert (in den aktuellen Preisen würde der Erlös 2,3 Milliarden Dollar entsprechen)", betonte der Chefanalyst der Treuhandgesellschaft Aton, Wjatscheslaw Bunkow. „Deshalb können sich solche Einschränkungen nicht nur auf das Unternehmen selbst, sondern mehr auf seine europäischen Verbraucher sehr negativ auswirken."

Dieser Meinung stimmte auch der Experte von Arbat Capital, Vitali Gromadin, zu. Ihm zufolge wird die Abführung einer solch bedeutenden Rohstoffmenge vom Markt die Ölpreise beeinflussen. „Es ist offensichtlich, dass niemand dieses Geld bezahlen wird. Der Staat wird alle Möglichkeiten nutzen, um seine Position zu verteidigen und zusätzliche Haushaltsverluste zu vermeiden", so der Branchenkenner. Die Konfrontation zwischen Yukos und Rosneft habe das Niveau erreicht, auf dem eine Lösung nur mit politischen Mitteln möglich wäre, ergänzte er.

Quellen: "RBC Daily", "Wremja Nowostej" vom 18.03.10.

Hasi

Rosneft will bei deutschen Raffinerien einsteigen

Russlands größter staatlich geführter Ölförderer Rosneft will einem Pressebericht zufolge über eine Beteiligung an fünf deutschen Raffinerien bei der Ruhr Oel GmbH (Gelsenkirchen) einsteigen. Rosneft wolle der staatlichen Ölgesellschaft von Venezuela, PdVSA, 50 Prozent an der Ruhr Oel GmbH abkaufen, berichtete die Moskauer Wirtschaftszeitung "Wedomosti" (Freitag). Die restlichen 50 Prozent an dem 1983 gegründeten Joint Venture hält die deutsche BP AG. Das Geschäft werde ein Gesprächsthema des russischen Regierungschefs Wladimir Putin mit venezolanischen Vertretern an diesem Samstag in Caracas sein, hieß es. Ein möglicher Kaufpreis wurde nicht genannt.

Ruhr Oel besitzt die Raffinerien Scholven und Horst (beide Gelsenkirchen). Zudem hält das Unternehmen Anteile an den Raffinerien PCK (Schwedt an der Oder), Miro (Karlsruhe) und Bayernoil (Vohburg)./am/DP/he

Hasi

 Rosneft’s assets are no longer under arrest.
On Thursday the positive news came on the High Court of London having cancelled the arrest of Rosneft’s assets at the territory of England and Wales. Given decision has been made April 6 by the mutual agreement of the sides – Rosneft and Yukos Capital. Rosneft provided warranties for 425 mn pounds, and the former subsidiary of YUKOS agreed on cancellation of arrest on the assets of the Russian oil company in six regions

Quelle Veles

Hasi

Metropol zu Rosneftergebnis:


Habe übrigens letzte Woche (vor Erscheinen des Berichts) meine VTB-Bankshares in Rosneft "getauscht" (London $6.19)

Angehängte Dateien

metropol _july_2010_-_rosneft_2q_10_us_gaap_preview.pdf (53,4 KB, 26x aufgerufen)

Hasi

Rosneft posts sales revenue for H1

RBC, 02.08.2010, Moscow 13:50:52.Rosneft's revenue from oil and gas sales under U.S. GAAP jumped 1.7 times - from $9.884bn in the first half of 2009 to $16.651bn in H1 2010, the Russian oil company indicated in its financial statement today.

At the same time, the company's total sales revenue increased 1.6 times to $30.192bn. Revenue from the sale of oil products and petrochemicals rose 1.5 times to $12.764bn. Similarly, EBITDA jumped 56 percent to $9.188bn.

As reported earlier, Rosneft's net profit under U.S. GAAP climbed 37 percent to $5bn in January-June 2010. Today, however, the company announced that its net profit reached $4.96bn, 37.1 percent greater than in the corresponding period of the previous year.

Hasi

Rosneft successfully drilled two exploration wells at the Yurubcheno-Tokhomskoye field, possibly its
next major East Siberian greenfield after Vankor. This success should strenghten Rosneft’s case for
special treatment of remote greenfields.
ROSN RU: BUY | Fair Value: USD 9.59 | Current Price: USD 7.00 | Upside/Downside: 37%
Rosneft has successfully drilled two exploratory wells at its Yurubcheno-Tokhomskoye (YT) field in Eastern Siberia. The
new wells flowed at 1,214bpd and 1,632bpd, 90% and 155% above Rosneft’s average rates for new wells, which in turn is
about twice the Russian average.
The new wells offer new evidence that YT can be developed despite its complicated geology. The new wells appear more
productive than Rosneft’s 2008 Baikalovsky well north of Vankor, which found a new field with C1+C2 oil reserves of
388mn bbl. On the other hand, the Mogdinsky 6 well which found the Savostyanovskoye field in 2009 with C1+C2 oil
reserves of 1.2bn bbl, likely flowed at a higher rate than the new wells.
The YT block appears to be Rosneft’s largest undeveloped asset in Eastern Siberia (excluding the Vankor group), with 3P
reserves of 1.9bn bbl. Lacking transportation infrastructure however, YT produced at less than 1,000bpd in 2009.
Rosneft’s total prospective resources in the area are estimated at 7.7bn bbl of oil, over 40% of the company’s proven oil
reserves. Rosneft tentatively plans to start large-scale production from YT in 2013.
Rosneft could also use the two wells, in addition to the earlier Mogdinsky 6, to convince the government that the obstacles
to East Siberian production are not geological but fiscal. If the government approves a pilot taxation scheme for new fields,
we believe YT would be on the list of eligible projects.