For the fifteen Russian subsidiaries of Rosneft and energy sector entities added to the Entity List based on activities described in Executive Order 13662, the Entity List imposes a license Start Printed Page 52966 requirement for the export, reexport or transfers (in-country) of all items subject to the EAR to those companies when the exporter, [22], In 2005, Mikhail Khodorkovsky (former chairman of Menatep) and Platon Lebedev (business partner of Khodorkovsky) were sentenced to nine years in prison for fraud and tax evasion. [60] According to Rosneft's CEO Igor Sechin, no discussion had been held on a buyout of minority shareholders in TNK-BP Holding. 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Yellen at Bilateral Meeting with Prime Minister of Ukraine Denys Shmyhal, Remarks by Secretary of the Treasury Janet L. Yellen at Wreath Laying Ceremony in Kyiv, Ukraine, RT @TreasuryDepSec: At our roundtable with @BlkEconAlliance today, @SBAIsabel @RepNikema and I heard from business leaders about ways the f, RT @TreasuryDepSec: I'm in Atlanta this week with @SBAIsabel and @DepSecTodman to highlight some of the historic investments @USTreasury @S, Form 941, employer's quarterly federal tax return, Office of Foreign Assets Control - Sanctions Programs and Information, Specially Designated Nationals And Blocked Persons List (SDN), Civil Penalties and Enforcement Information, Special Inspector General, Troubled Asset Relief Program (SIGTARP), Administrative Resource Center (ARC)- Bureau of the Fiscal Service. These refineries . The German government has placed German Rosneft subsidiariesRosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM)under fiduciary management. The replacement of hydrocarbon reserves of industrial categories ABC1 amounted to 354million TOE or 126% of the production in Russia. To access the full dataset and all other index resources, New business models are being adopted in the marine industry to increase efficiency, minimize risks, lower costs while ideally minimizing carbon footprint at the same time. About 100 employees of Saratov Refinery took part in cleaning up the pine forest, place of resort of Saratov citizens. Specifically, the federal . At least 13 flights went. Ulyukayev, while influential, was not part of President Putin's inner circle.[89]. US Government Adds Rosneft's Swiss Subsidiary to the SDN List under Venezuela-related Sanctions Program - Sanctions & Export Controls Update US Government Adds Rosneft's Swiss Subsidiary to the SDN List under Venezuela-related Sanctions Program February 24, 2020 By Andrea Tovar, Eunkyung Kim Shin and Paul Amberg 4 Mins Read [90] The 61-year-old claimed that Sechin had lured him to Rosneft's offices, where he was subsequently caught red-handed by the authorities with a bag of bribe money. Registered in the Canton of Geneva, Switzerland as a trading company in January 2011, Rosneft Trading S.A. was created to assist Rosneft Oil Company in carrying out its foreign projects. Rosneft's core activities include oil and gas production, refining and export. [84], 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. After the expiration of this authorization, unless exempt or authorized by OFAC, U.S. persons will be prohibited from engaging in transactions with Rosneft Trading S.A. or TNK Trading International S.A., or any entity in which Rosneft Trading, S.A. or TNK Trading International S.A. owns, directly or indirectly, a 50 percent or greater interest, and must block property or interests in property of Rosneft Trading S.A. and TNK Trading International S.A. that are in, or come within, the United States, or the possession or control of a U.S. person. [4] In March 2007, Rosneft had announced it hoped to increase production from 80million tonnes to 103 million tonnes from 2006 to the end of 2007, extract 140million tonnes of oil by 2012, and become a global top three energy company. [64], Following the 2022 Russian invasion of Ukraine more than half of Rosneft's 11-member board have quit, forcing the company into a major reshuffle at its annual general meeting on 30 June 2022. In this case, sanctions are likely to cause more serious damage to the Russian company. Export Controls, Economic Sanctions, Anti-Money Laundering, FCPA/Anti-Corruption, Economic Sanctions, Export Controls, Independent & Internal Investigations, FCPA/Anti-Corruption. [67][68], In March 2022, as a result of the 2022 Russian invasion of Ukraine the EU imposed sanctions on Rosneft. PJSC Rosneft Oil Company (Russian: , tr. Overview Rosneft is a company that provides hydrocarbon exploration, production, and refining and marketing services. OAO Rosneft Oil Company Company Profile. SSI Designations OFAC added 18 majority-owned subsidiaries of VEB and 17 majority-owned subsidiaries of Rosneft to the SSI List pursuant to EO 13662. It also involves in refining, transportation, and sale of petroleum products. The government has now placed two Rosneft subsidiaries under the trusteeship of Germany's energy regulator, meaning that three critical refineries are now controlled by Germany. The owners are opposing this in court. To access the full dataset and all other index resources, visit https://resourcegovernanceindex.org . ", "Rosneft and BP Form Global and Arctic Strategic Alliance", "BP, Russian Billionaires, and the Kremlin: A Power Triangle That Never Was", "ExxonMobil in $3.2bn Rosneft Arctic pact", "Rosneft Teams Up with Exxon Mobil in Arctic Deal", "Rosneft and ExxonMobil to Develop Black Sea Resources", "U.S. will not give Exxon permission to drill in Russia", "Taking a stake in Rosneft is a big gamble for BP", "Sechin points to multi-billion TNK-BP synergies", "Rosneft pays out in historic TNK-BP deal completion", "BP to offload stake in Rosneft amid Ukraine conflict", "Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade", "Rosneft replaces departed western board members", "Announcement of Treasury Sanctions on Entities Within the Financial Services and Energy Sectors of Russia, Against Arms or Related Materiel Entities, and those Undermining Ukraine's Sovereignty", "Treasury Targets Russian Oil Brokerage Firm for Supporting Illegitimate Maduro Regime", "U.S. Imposes Sanctions on Russian Oil Company Supporting Venezuela's Leader", "EU introduces additional sanctions against Russia", "Germany: Rosneft Acquires 50% Of Ruhr Oel GmbH", "Rosneft sells Venezuelan assets to Russia after U.S. sanctions ramp up", "Ranking Oil, Gas and Mining Companies on Indigenous Rights in the Arctic", "Russian ex-minister Ulyukayev gets eight years for bribery", "Ex-minister's harsh jail sentence sends shockwaves through Russian elite", "Ex-Russian minister Ulyukayev faces bribery charges, pins blame on Rosneft head and Putin ally | DW | 16.08.2017", "Why Russia has so many oil leaks | DW | 29.03.2021", "Russia's Rosneft charged over pipeline leak that caused oil to come out of taps", "Announcement Of Additional Treasury Sanctions On Russian Government Officials And Entities", "Executive Order - Blocking Property of Additional Persons Contributing to the Situation in Ukraine", "U.S. Treasury Announces Unprecedented & Expansive Sanctions Against Russia, Imposing Swift and Severe Economic Costs", "BP, Russian billionaires, and the Kremlin: a Power Triangle that never was", Rosneft Oil production, refining, reserves and capex by division, segment and period (Grmike, wikinvest), Yahoo! On July 30, 2015, OFAC added 11 individuals and 15 entities in Russia and Ukraine to its Specially Designated Nationals and Blocked Persons List (SDN List). The new restrictions resulting from OFACs July 30 designations are those related to the new SDN designations described above. During the early 1990s, almost all Russian oil companies and refineries were extracted from Rosneft to form ten integrated companies. The company explores, produces, refines, transports, and sells oil and gas. - Advertisement -. See our previous advisories on these EOs here and here. Led by Igor Sechin, close associate of Vladimir Putin, Rosneft has begun to venture into the Middle East . According to experts on the Russian newspaper Vedomosti, the assets of Yukos, bought by Rosneft at auction organized by the state, went to the company at a discount of 43.4% of the market price of this property. However, the Arbitration Court of Tomsk Oblast, having considered the claim, ruled to refuse Yukos Capital in debt collection.[88]. [71][72], In 2016, based on geological prospecting, 13oil fields and 127new deposits[15] with the reserves totaling 207million tons of oil equivalent were discovered. 13850 necessary for the wind down of transactions involving Rosneft Trading S.A. or TNK Trading International S.A., or any entity in which Rosneft Trading S.A. or TNK Trading International S.A. owns, directly or indirectly, a 50 percent or greater interest, through 12:01 a.m. eastern daylight time, May 20, 2020. He . The refineries are able to process about 45% of crude oil produced by Rosneft as a whole. The event was supported by the Russian Federation Ministry of Natural Resources, the Russian Federation Ministry of Regional Development, regional government executive bodies, and by non-governmental organizations. Rosneft Trading S.A. is a subsidiary of the Russian state-controlled global energy giant Rosneft Oil Company. 37well tests were completed with a success rate of 76%. Rosneft. [86], On August 9 2010, a former subsidiary of Yukos, Yukos Capital Sarl of Luxembourg, was seeking to have Rosneft repay the debts of companies that previously belonged to Yukos. On 29 September 1995, an Order of the Government of Russia No. As part of the event, Rosneft subsidiaries workers made a vital contribution to the environmental situation improvement in towns, villages, and parks. [85], In October 2009, the Federal Antimonopoly Service (FAS) imposed on Rosneft a record fine of 5.3 billion ($175M) for violating anti-monopoly legislation. Rosneft and many of its subsidiaries have been sanctioned in the past and appear on the Sectoral Sanctions Identification (SSI) List. [18][19][20], Starting in 2004, the Russian government organized a series of auctions to sell the assets of Yukos Oil Company, of which Rosneft won the majority. SSI Designations OFAC added 18 majority-owned subsidiaries of VEB and 17 majority-owned subsidiaries of Rosneft to the SSI List pursuant to EO 13662. [24] In June, Rosneft paid $731million for the transportation assets of Yukos, which had declared bankrupt in August 2006 after three years of litigation over tax arrears. See our previous advisory . Lukoil began as Langepas-Uray-Kogalymneft, a Russian state-owned energy company that Alekperov helped to found in 1991. The main activities of JSC Samotlorneftegaz, which owns 9 license areas, are exploration and development of oil and gas fields, drilling of parametric, prospecting, exploration and production wells, production, preparation, processing, transportation and sale of hydrocarbon raw materials, development of oil and gas fields. A presumption of denial will apply when the item is for use directly or indirectly for exploration of production from deepwater, Arctic offshore, or shale projects in Russia that have the potential to produce oil. [56] The deal also contains options for additional cooperation, such as extended exploration and production, deliveries to Rosneft's oil refinery in Tuapse, development of transport infrastructure and research on offshore oil production technologies. Its name is a portmanteau of the Russian words Rossiyskaya neft (Russian: , lit. Help us to improve ResourceData.org by taking a short Natural gas transmission system of Ukraine, 20222023 RussiaEuropean Union gas dispute, International sanctions during the Russo-Ukrainian War, International Association of Oil & Gas Producers, https://en.wikipedia.org/w/index.php?title=Rosneft&oldid=1138743601, Companies listed on the London Stock Exchange, Russian entities subject to the U.S. Department of the Treasury sanctions, CS1 maint: bot: original URL status unknown, Short description is different from Wikidata, Articles containing Russian-language text, Articles with unsourced statements from November 2020, All articles with specifically marked weasel-worded phrases, Articles with specifically marked weasel-worded phrases from January 2015, Articles with unsourced statements from March 2018, Articles lacking reliable references from May 2018, Articles with Russian-language sources (ru), Creative Commons Attribution-ShareAlike License 3.0, Gennady Bukaev Vice President, Head of Internal Audit, Yury Narushevich Vice President for Internal Services, Zeljko Runje Vice President for Offshore Projects, Yuri Kurilin Vice President, Chief of Staff, Andrey Shishkin Vice President for Energy, Localization, and Innovation. [73][third-party source needed], According to Rosneft, the reserves increment in Western Siberia amounted to 133million tons of oil and condensate and 87billion cubic metres (8.71010 cubic metres) of natural gas. [59] BP will receive in exchange of its stake $12.3billion of cash and 18.5% of Rosneft's share, while ARR will receive $28billion in cash. [106], As of 1 May 2014, the heads of Russian state corporations would provide information about their incomes and property to the Russian government to correspond to the presidential decree Anti-Corruption Issues, which was published on 8 July 2013. survey. Rosneft is the largest refining company in the Russian Federation. You are offered better than market conditions and a significant profit. [25] In August, Bogdanchikov said that although the Yukos acquisitions had increased Rosnefts debt to $US26 billion, he planned to reduce debt to 30% of total assets by 2010 by tripling refining capacity and expand into China. The announced amount could increase by another US$400 million if the global placement coordinators realize the option of buying another 53 million GDRs of Rosneft at the price of placement within 30 days. [58], 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. The 15 parties subject to this license requirement are: Ms. Test advices clients on issues relating to licensing, regulatory interpretations, enforcement actions, internal investigations and compliance audits, as well as the design, implementation and administration of compliance programs. U.S. persons, therefore, are not prohibited under E.O. Remember about the Gas Do not buy Russian goods! [102], Rosneft and many of its subsidiaries have been sanctioned in the past and appear on the Sectoral Sanctions Identification (SSI) List. OFAC specifically has included these 35 entities to the SSI List in order to assist the public to more effectively comply with the sanctions on VEB and Rosneft. In 2019, utilizing flight-tracking databases, Reuters identified dozens of flights by Rosneft jets over a four-year period that flew during Russian holidays or weekends. During this year event, 40 employees of Samaraneftegaz cleaned up the territories adjacent to the recreational area, mounted benches, and fixed hard landscaping. [56], In April 2017, the Trump administration denied ExxonMobil permission to continue a deal with Rosneft to drill for oil in Russia. . The Entity List imposes a license requirement for the export, reexport, or transfer (in-country) of all items subject to the EAR to the 15 Rosneft subsidiaries when the exporter/reexporter, or transferor knows that the item will be used directly or indirectly in exploration for, or production of, oil or gas in Russian deepwater, Arctic offshore locations, or shale formations in Russia, or is unable to determine whether the item will be used in such projects. [11], In October 1998, the Russian government appointed Sergey Bogdanchikov as president. The new designations and sanctions advisory demonstrate a continuing commitment by US authorities to enforce sanctions related to the situation in Ukraine. In 2011, according to a survey conducted by the Federal Service for Supervision in the Sphere of Nature Management (Rosprirodnadzor) in Khanty-Mansi Autonomous Okrug, Rosneft allowed 2,727 oil spills, which is 75% of the total number of spills that occurs under the company. 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