Rosneft

India's end-use energy consumption to grow 90% by 2050: Rosneft CEO

India's end-use energy consumption is set to grow by 90 per cent by 2050 -- one of the fastest growth rates in the world, Russian oil giant Rosneft CEO Igor Sechin said. Sechin, Chief Executive Officer of Rosneft, Russia's biggest oil producer, addressed key global business and political leaders at the Energy Panel of the 27th St. Petersburg International Economic Forum (SPIEF), according to a statement by the company. In his keynote speech titled "Energy transition and phantom barrels", he provided a comprehensive analysis of the current state of the energy market and highlighted key challenges facing the industry. "Over the next five years, India is projected to continue its strong economic momentum and become one of the top three largest economies in the world with a GDP of USD 5 trillion, and by 2050 will overtake the US in terms of the size of the economy," he said. He added that India's end-use energy consumption is set to grow 90 per cent by 2050, registering one of the fast

Gulf crudes make a comeback as Russian Urals grade turns expensive

The share of Russian oil imports in India's overall crude import basket slumped by 8 percentage points on the month in October

Russian energy giant Rosneft appoints former IOC director to its board

Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft. Rosneft has partnerships with Satish's former company in oil and gas fields in Russia. It also sells crude oil to IOC and other Indian firms and has in recent months started shipping naphtha to Gujarat refiners. His appointment assumes significance as Rosneft is now eyeing more deals with Indian firms including the sale of liquefied natural gas (LNG). Satish, who has deep insight into the Indian oil and gas market and has expertise in petroleum product marketing, petrochemicals, LNG and international trade, is one of the five ...

BPCL in talks with Rosneft to buy oil priced on Dubai benchmark: Reports

The deal would deepen India's commitment to its now-biggest oil supplier in the wake of Western sanctions on Moscow and mark a continued shift by Rosneft to pricing its oil

Rosneft planning to build greenfield refinery in India with state refiners

Indian Oil Corporation and Bharat Petroleum are expected to be likely candidates for the JV

Russia's Rosneft signs deal to boost oil supplies to Indian Oil Corp

MOSCOW (Reuters) - Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday.

German government takes over subsidiary of Russian oil giant Rosneft

The German government says it is taking control of Russian oil giant Rosneft's subsidiary in Germany, citing the need to ensure continued operations at three oil refineries in the country. The Economy Ministry said in a statement on Friday that Rosneft Deutschland GmbH and RN Refining and Marketing GmbH will be put under the control of Germany's Federal Network Agency. The agency will also control the companies' shares in three refineries: PCK Schwedt, MiRo and Bayernoil. Rosneft accounts for about 12 per cent of Germany's oil refining capacity, it said. The ministry said the move would help ensure continued energy supplies and is initially due to last for six months.

ED arrests man for duping people on pretext of investment in oil company

Further investigation in the matter is on

Nayara Energy seeks Centre's approval on independent directors' pay

The company said the remuneration proposed to be paid to the independent directors is comparable with the remuneration being paid for similar assignments in the industry

Nayara Energy plans to shut its Vadinar refinery for maintenance from Nov 1

Indian refiner Nayara Energy, partly owned by Russian energy giant Rosneft, plans to fully shut its 400,000 barrels per day Vadinar refinery for about a month from November for routine maintenance

Major traders, banks cut business ties with Russia-backed Nayara: Report

Nayara per se has not been sanctioned as part of the international response to what Russia calls its 'special military action' against Ukraine but sanctions are in place against Rosneft.

Russia-backed refiner Nayara Energy posts record profit at $447.5 mn

NEW DELHI (Reuters) - India's Nayara Energy, part owned by Russian oil major RosneftMM>, posted a record quarterly profit in April-June as its margins improved due to higher intake of discounted Russian oil and fuel exports.

Rosneft begins production drill at Vostok Oil project's Payakhskoye field

Rosneft has started production drilling at the Payakhskoye field on the Taimyr Peninsula. The Russian energy company plans to drill about 80 wells there by the end of this year

Russia seeking oil payments from India in dirhams, shows document

An invoice seen by Reuters shows the bill for supplying oil to one refiner is calculated in dollars while payment is requested in dirhams.

India to drop windfall tax if oil prices fall $40 a barrel: Revenue Secy

The tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue

India in talks to increase Russian oil imports from Rosneft: Report

State processors are collectively working on finalising and securing new six-month supply contracts for Russian crude to India, said people with knowledge of the companies' procurement plans

Oil prices strengthen on EU's Russian oil ban, end of Shanghai lockdown

Brent crude was up $1.83, or 1.6%, at $117.46 a barrel as of 11:56 a.m. EDT (1556 GMT). U.S. West Texas Intermediate crude gained $1.77, or 1.6%, to $116.45.

Ukraine war, economic uncertainty delays Nayara Energy stake sale plan

"With the war, the chances of a Western company buying a stake in Nayara looks difficult. They may have to look for Indian equity partners," said a banker.

How much value Russia is adding to ONGC subsidiary OVL's product basket

ONGC subsidiary OVL derives significant value from its oilfields in that country

Ukraine war fallout: Nayara to pay higher interest after NCD downgrade

Lower rating by Care follows concerns over Rosneft's support to the Indian company after Russia invaded Ukraine and western countries imposed sanctions on the Russian entities