Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Rosneft' NK OAO    ROSN   RU000A0J2Q06

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Rosneft, Statoil Agree On JV To Develop Russia Arctic -Sources

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/05/2012 | 11:00am CEST

Russian state oil company OAO Rosneft (>> Rosneft' NK OAO) and Norway's Statoil ASA (STO, STL.OS) have agreed to form a joint venture to develop Russia's mostly untapped offshore energy resources in the Arctic and are expected to sign the deal later Saturday, two people familiar with the matter told Dow Jones Newswires.

The deal is expected to be structured similar to the ones Rosneft signed in April with Exxon Mobil Corp. (XOM) and Italy's Eni SpA (E, ENI.MI) and follows Russia's approval of long-awaited tax breaks for the potentially rich offshore fields.

Russia is willing to give a prominent role to foreign companies willing to develop the shelf, Russia's energy czar, deputy Prime Minister Igor Sechin, said April 16, following the deal with Exxon.

An industry source said the role of Sechin, who is expected not to join the new Russian government to be announced in the following days, was prominent at all the three deals.

Rosneft declined to comment. Statoil wasn't available for comment.

-By Alexander Kolyandr, Dow Jones Newswires; +7 495 232-9192 alexander.kolyandr@dowjones.com

Stocks mentioned in the article : Rosneft' NK OAO
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on ROSNEFT' NK OAO
06/24 ROSNEFT' NK OAO : ex-dividend day for annual dividend
06/21DJROSNEFT' NK : Rosneft in Deal to Sell Crude Oil to PetroVietnam
06/17DJBP and Rosneft Create Joint Venture to Explore for Oil in East and West Siber..
06/08DJROSNEFT' NK : Rosneft Net Profit Tumbles 75%
06/08 ROSNEFT' NK : Financial results for Q1 2016
06/07 ROSNEFT' NK : Trafigura profit falls, oil volumes reach record
06/06 ROSNEFT' NK : Rosneft will report its Q1 2016 consolidated IFRS financial result..
06/06 ROSNEFT' NK : Rosneft will report its Q1 2016 consolidated IFRS financial result..
06/02 ROSNEFT' NK : Rosneft commences drilling in the Sea of Okhotsk
06/01 ROSNEFT' NK : Igor Sechin and CSOC President Chen U Ing agreed main contract par..
Advertisement
Income Statement Evolution
More Financials