http://www.rosneft.com/about/Glance/OperationalStructure/. The operation was conducted for seven hours and was broadcast live via the Internet to the office of Yuganskneftegaz. The 14 parties subject to this license requirement are: 1) Private Joint-Stock Company Mako Holding; 4) Open Joint Stock Company Kontsern Izhmash, 9) State Enterprise Evpatoria Sea Commercial Port, 10) State Enterprise Feodosia Sea Trading Port, 11) State Shipping Company Kerch Sea Ferry, 12) State Enterprise Kerch Sea Commercial Port, 13) State Enterprise Sevastopol Sea Trading Port, 14) State Enterprise Yalta Sea Trading Port. Previously, on February 18, 2020, OFAC placed Rosneft Trading S.A. (Rosneft Trading), a Swiss subsidiary of Rosneft, on the SDN List for purchasing, transferring, brokering, and otherwise facilitating the shipment of crude oil from PdVSA. [43], On 2 October 2017, the PLA-linked CEFC China Energy[44] bought a $9 billion stake in Rosneft. This could also have consequences for consumers. [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. [11], In October 1998, the Russian government appointed Sergey Bogdanchikov as president. U.S. persons, therefore, are not prohibited under E.O. Description Rosneft Oil Co is an integrated oil and gas company in which the Russian government is a majority shareholder. [12] The company owned two obsolete refineries and several low-productive and poorly managed oil-producing assets. We work with innovative agents of change within government ministries, civil society, the media, legislatures, the private sector, and international institutions to promote accountable and effective governance in the extractive industries. [102], Rosneft and many of its subsidiaries have been sanctioned in the past and appear on the Sectoral Sanctions Identification (SSI) List. Subscribe to Maritime Reporter Email News. At the same time, the composition of the beneficiaries were not disclosed as it was known that the oil company had previously committed to pay $180 million for the right to be the general sponsor of the 2014 Winter Olympics in Sochi. Entities that are 50 percent or more owned by one or a combination of specially designated nations are also subject to these sanctions. They were convicted, but in 2013 Putin pardoned Khodorkovsky and 2014 the Russian supreme court announced that Lebedev should also be freed early. OFAC added the following individuals to the SDN List pursuant to EO 13660: OFAC also added Private Joint-Stock Company Mako Holding to the SDN List pursuant to EO 13660 for being owned or controlled by, or acting or purporting to acting for or on behalf of Oleksandr Yakukovych. Remember about the Gas Do not buy Russian goods! 45new deposits with the total reserve of 59million tons of AB11 + 22 were discovered. 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. [69], Rosneft's daily average crude oil production in 2010 increased by 6.4%, to 2.3 million barrels (370thousand cubic metres). As part of the project to develop the Gudauta area on the Black Sea shelf, Rosneft will carry out a full range of geophysical and geochemical research, conduct 2D and 3D seismic surveys, and start preparations for exploratory drilling. The evasive practices of third parties identified by OFAC may cause US companies and foreign companies doing business in US, notwithstanding their existing compliance controls, to engage in activities that are in violation of US sanctions, which are strict liability regimes that do not take intent into account for civil violations. [96] However, in early November 2006, a number of journalists pointed out that the Priobskoye oil field of which it is owned by RN-Yuganskneftegaz, a subsidiary of Rosneft acquired from Yukos, produced the largest oil fracture in Russia with specialists of Newco Well Service. The proceedings could also affect consumers in Germany: If the court upholds . OAO Rosneft Oil Company Company Profile. Ulyukayev, while influential, was not part of President Putin's inner circle.[89]. 3. The replacement factor for new reserves has been significantly above 100% for over ten years. [21] According to some estimates,[who?] [39], In October 2016, Rosneft bought a 49% stake in Essar Oil of India, along with Russian investment fund United Capital, in a deal worth $13 billion. In July, the Russian government announced that information of the income of top management of companies listed in Government Decree No. 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. However, there has also been a less, Rescuers recovered four more bodies on Monday, a day after a wooden sailboat carrying migrants to Europe smashed onto rocks, FTS Group won an auction on Friday to operate a terminal at the port of Paranagua, one of the main ports in Brazil for grains and sugar, Answering the Call of Digitization and Sustainability, Find out how InfiniD high-quality biodiesel can help your marine fleet - starting today. Mr. As Rosneft Trading S.A. and TNK Trading International S.A. are also identified on the Sectoral Sanctions Identifications List (SSI List) pursuant to Directives 2 and 4 to E.O. Rosneft is headquartered in Moscow, Russia. The first use of the name Rosneft dates back to the late 19th century, when exploration of oil fields in Sakhalin began in 1889. [17], When the Great Recession struck Russia in late 2008, Rosneft was able to endure the economic pains by improving and strengthening business lines, management, and transparency, and as a result, became a leading oil company domestically and internationally. Formal inclusion of some Rosneft subsidiaries in the list of entities that fall under sectoral sanctions is indicative of the ongoing illegitimate practice when the effects of political decisions are being extended to market players not influencing the decision-making. The owners are opposing this in court. Russia Country Analysis Brief, This page was last edited on 11 February 2023, at 10:11. Rosneft is also among the largest natural gas producers in Russia, with a total gas production of 12.3billion cubic metres (1.231010 cubic metres) in 2010. See our previous advisories here and here for more details. See our previous advisory . [46], In May 2018, it was announced that the Qatar-Glencore consortium is cancelling the plan to sell a $9.1 billion (14%) stake of Rosneft to CEFC China Energy. [16] By the same year, Rosneft produced 100 million barrels of oil, 20% of Russia's output at the time. [97] In 2007, the company planned to perform hydraulic fracturing of the formation at 440 wells. [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. 2. In addition to drilling and creating its own sales network, Rosneft also planned the construction of mini-refineries in Abkhazia. Rosneft Oil Co. engages in the exploration, development, production and sale of crude oil & gas. 30 Rosneft Subsidiaries in All-Russian Environmental Cleanup Day By Joseph R. Fonseca September 2, 2014 Thirty Rosneft subsidiaries in most of the regions of the Company presence, from Sakhalin. It also involves in refining, transportation, and sale of petroleum products. Furthermore, OFAC issued a Crimea sanctions advisory identifying certain practices used to circumvent or evade US sanctions involving Crimea, and advised companies to implement certain enhanced compliance measures that correspond with their US sanctions risk profile. Attorney Advertising. 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. OFAC identified certain practices from the financial and international trade sectors that are intended to omit or obfuscate references to Crimea and locations within Crimea. PJSC Rosneft Oil Company (Russian: , tr. One hundred and forty-nine questions were asked for each assessment and for each TNK Trading and Rosneft Trading S.A. handled a large percentage of Venezuela's oil exports in 2019, and in January 2020, TNK Trading purchased nearly 14 million barrels of crude oil from Venezuela's state-owned energy company, Petrleos de Venezuela (PdVSA). 13850 blocking sanctions apply only to Rosneft Trading S.A. and 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. We will continue to keep you apprised of developments related to Russia/Ukraine sanctions. It focuses on exploration and appraisal of hydrocarbon fields, production of oil, gas and gas condensate, offshore field development projects, feedstock processing, sales of oil, gas, and refined products. a comprehensive measure of the quality of 1.4.9d: Does the SOE publicly disclosea list of its subsidiaries? The cooperation with the park started back in 2010, when oil workers helped to backfill tourist trails, paint summerhouses and benches. ONGC Videsh has developed strong partnership alliance with a host of IOCs and NOCs including ExxonMobil, British Petroleum, Shell, ENI, Total, Repsol, Equinor, MOL, Petrobras, Sodeco, AzACG, Rosneft, ADNOC, Posco International, Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas and Ecopetrol. [4], Rosneft was established in 1993 as a unitary enterprise with assets previously held by Rosneftegaz, the successor to the Soviet Union's Ministry of Oil Industry. natural resource governance in oil, gas and mineral-rich See our previous advisory. 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. E-Mail: info@rosneft.de Press Contact. [95] Often blamed is Rosneft's ageing infrastructure, so is the lack of government oversight. bp to exit Rosneft shareholding bp to exit Rosneft shareholding Release date: 27 February 2022 bp will exit its 19.75% shareholding in Rosneft. [51] AAR, which represents four billionaires of Russian origin and is BP's Russian partner in the TNK-BP joint venture, blocked the BPRosneft deal in international courts, arguing it breached earlier contracts between BP and AAR. See our previous advisories on these EOs here and here. [citation needed], In 2005, Rosneft acquired a 25.94% stake in the company Verkhnechonskneftegaz[14] and became the leading oil company of Russia in terms of production. 971 transformed Rosneft into an open joint stock company. Rosneft Oil Company / annual report 2006 Contents Chairman's Address 6 Example: List of subsidiaries of General Electric at SEC.gov. [30], On 14 July, the official results of the placement value were announced. The 29 parties are located in the Crimea region of Ukraine, Cyprus, Finland, Romania, Romania, Russia, Switzerland, Ukraine, and the United Kingdom (British Virgin Islands). Individuals submitted applications for the purchase of 99,431,775 shares of the oil company, and as a result, most of the new shareholders were individuals; partly because of this IPO was given the unofficial name of "people's. A senior administration official said that the designation of Rosneft Trading S.A., a subsidiary of the Russia's Rosneft Oil Company, was "another major step forward toward achieving maximum . The state-owned Russian company Rosneft - the parent company in Moscow and a subsidiary in Luxembourg - is complaining that the federal government took control of the two German subsidiaries Rosneft Deutschland GmbH and RN Refining & Marketing GmbH in September 2022. Persons on the SSI List, unlike those on the SDN List, do not face an asset freeze and US persons are not prohibited strictly from dealing with them. Under Directive 1, as amended, US persons are prohibited from transacting or dealing in new debt with a maturity of 30 days or new equity issued by an entity on the SSI List. You can also follow us on Twitter (@SteptoeIntlReg). [87], On 16 August 2010, Yukos Capital appealed to the Federal Arbitration Court of the West Siberian District with a cassation appeal against the decision of the Arbitration Court of Tomsk Oblast to refuse reclaiming from Tomskneft, a Rosneft subsidiary, more than 7 billion ($231M) under loan agreements. The significant step was to sign a Declaration on Protection of the Environment and Biodiversity for Oil and Gas Exploration and Development on the Russian Arctic Continental Shelf prepared at the initiative of Rosneft in cooperation with its partners, such leading world energy companies as Statoil, ExxonMobil, and Eni. Rosneft undertook exploration on the shelf in the Ochamchira area, discovering preliminary reserves estimated at 200 million to 500 million tons of oil equivalent. [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. [4], From 2002 to 2004, the main objectives of the company were to strengthen control over its assets, reduce the debt burden, and to obtain licenses in Eastern Siberia. [61] The deal was completed on 20 March 2013. [99][100] On February 24 2022, his son Ivan Sechin was also sanctioned by the U.S.[101] On February 28 2022, Igor Sechin was subjected to travel restrictions and had his assets frozen by the EU. 35. OFAC provided the following examples of compliance measures that may mitigate these risks of violating US sanctions involving Crimea: Companies should tailor compliance measures to correspond with their specific US sanctions risk profile. 37prospecting and exploration wells tests were completed with a success rate of 89%. March 28, 2020. [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. Rosneft and Rosneft Trading have been named on the Sectoral Sanctions Identification List (the "SSI List") since 2014 and 2015, respectively. [21], The purchase of Yugansk in 2005[23] greatly increase the number of assets and production for Rosneft. [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. Key Points. The Company's refineries in Russia refined 93.0 mmt in 2020. In the Samara Region, Samaraneftegaz employees carried out site improvements within the Samara Bend national park, natural and cultural site, which receives more than million visitors per year. It became Russia's leading oil company after purchasing assets of the former oil company Yukos at state-run auctions. Rosneft is already on the Entity List and is an entity identified on OFACs Sectoral Sanctions Identifications List. At the oral hearing, Rosneft's lawyers requested that the trusteeship of the subsidiaries Rosneft Germany and RN Refining & Marketing, which had been ordered in September, be lifted. OFAC has authorized a wind down period for both companies through 12:01 a.m. U.S. Eastern Time on May 20, 2020. For the time being, it appears that the US approach is to make designations under the existing EOs and Directives, although this can change. Edward J. Krauland represents clients on matters involving US and multilateral economic sanctions, dual use, defense and nuclear export controls, anti-money laundering (AML) compliance, anti-boycott, Meredith Rathbone counsels clients in numerous countries on achieving their business goals while ensuring compliance with US export controls and economic sanctions laws administered by the Departments OFAC Adds Rosneft and VEB Subsidiaries to SSI List, Designates Russian SDNs, Advises on Evasion, Steptoe Receives 16 Practice, 40 Individual Mentions in, Four Steptoe Lawyers Named to Lawyers of Color Law Firm Leaders Issue 2022, Virtual Internet Law and Policy Roundtable, Steptoe Continues Energy Practice Dominance with Addition of Pipeline and Energy Partner Focused on Litigation and Regulatory Counseling, Steptoe Bolsters Government Affairs & Public Policy Practice with Addition of Partner and former Twitter Deputy General Counsel Tod Cohen, Steptoe Expands Commercial Litigation Practice with Addition of Three Nationally-Recognized Partners Focused on Advertising, Telemarketing, and Consumer Protection Law, Steptoe Named to WILEF 2022 Gold Standard Certification List, Steptoe Announces Partner and Counsel Promotions for January 1, 2023, Izhevsky Mekhanichesky Zavod JSC (aka Baikal), State Enterprise Kerch Sea Commercial Port, State Enterprise Sevastopol Sea Trading Port, State Enterprise Feodosia Sea Trading Port, State Enterprise Evpatoria Sea Commercial Port, Development Corporation of North Caucus OJSC, Russian Export-Import Bank (EXIM Bank of Russia), Far East and Baikal Region Development Fund OJSC, Russian Direct Investment Fund Management Company. Rosneft's subsidiaries play an important role in Venezuela's oil sector. 37well tests were completed with a success rate of 76%. The area of more than 1 thousand square m has been cleaned up. The new designations and sanctions advisory demonstrate a continuing commitment by US authorities to enforce sanctions related to the situation in Ukraine. See our previous advisory. [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. 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. In exchange, subject to approval by U.S. regulators, in addition to a share in oil production in Russian fields, Rosneft was granted participation in U.S. fields in Texas and the Gulf of Mexico. During the early 1990s, almost all Russian oil companies and refineries were extracted from Rosneft to form ten integrated companies. Rosneft puts a priority on prevention and decrease of adverse environmental impact. 'Russian oil'). On December 15 2017, a Moscow court sentenced Alexei Ulyukayev, a former Russian economy minister to paying 130M ($2.2M) and eight years in a penal colony for bribery and corruption. Likewise, on March 12, 2020, OFAC designated TNK Trading International S.A. pursuant to E.O. The determining factor in enhancing the role of Rosneft in the Russian oil industry has been the support of the country's top leadership. [48], On 15 January 2011, Rosneft and British Petroleum (BP) announced a deal to develop the East-Prinovozemelsky field on the Russian arctic shelf between the Yamal Peninsula and Novaya Zemlya island. Export Controls, Economic Sanctions, Anti-Money Laundering, FCPA/Anti-Corruption, Economic Sanctions, Export Controls, Independent & Internal Investigations, FCPA/Anti-Corruption. [74] Rosneft is the second largest national oil company by retail network, which covers 41regions of Russia and includes 1,800filling stations. The new restrictions resulting from OFACs July 30 designations are those related to the new SDN designations described above. At the moment, Rosneft is under sectoral sanctions only. [29], Rosneft announced a placement value of US$5.857.85 per share and global depository receipt (GDR), based on the company's capitalization after consolidation of US$6080 billion. OFAC also added 35 entities in Russia and Ukraine, all subsidiaries of Vnesheconombank (VEB) and Rosneft, to its Sectoral Sanctions Identifications List (SSI List). In Eastern Siberia and the Far East, the total increase in reserves amounted to 21.2million tons of oil and condensate and 29billion cubic metres (2.91010 cubic metres) of gas. [105], On February 18, 2020, the US Department of the Treasurys Office of Foreign Assets Control (OFAC) added Rosneft Trading S.A., a Swiss subsidiary of Rosneft, and its president Didier Casimiro to the Specially Designated Nationals (SDN) list. In 2016, the total incremental 4.8billion cubic metres (4.8109 cubic metres) of gas. Since the beginning of the year, with the use of specialized machinery they have collected and removed 70 tones of litter. All Rights Reserved. The Russian court had to bring the court's decision to Russian territory. CARACAS, Venezuela The Russian state-controlled oil firm Rosneft said Saturday it was ceasing operations in Venezuela and selling all of its assets in the country, signaling a . To access the full dataset and all other index resources, visit https://resourcegovernanceindex.org . In addition to it, the plant employees patronize the villages in Novokuibyshev suburbs. [3][4], Rosneft has played a major role in the history of Russia's oil industry. These EOs respectively target persons involved in destabilizing Ukraine (EO 13660); Russian government officials and persons operating in the Russian arms sector (EO 13661); and persons operating in Crimea (EO 13685). Previously, on February 18, 2020, OFAC placed Rosneft Trading S.A. ("Rosneft Trading"), a Swiss subsidiary of Rosneft, on the SDN List for purchasing, transferring, brokering, and otherwise . 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). 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From 2009 to 2010, Rosneft remains one of the largest customers of the oilfield services company Schlumberger, which specializes in hydraulic fracturing. [49][48] As part of the deal Rosneft was to receive 5% of BP's shares, worth approximately $7.8billion, as of January 2011 and BP would get approximately 9.5% of Rosneft's shares in exchange. In 2007, the former assets of Yukos provided 72.6% of oil and gas condensate production and 74.2% of Rosneft's primary refining. 13850 for operating in the oil sector of the Venezuelan economy. In addition, in 2002, the company received a license for the development of the Sakhalin-IV and Sakhalin-V project,[13] and in 2003 a license for the development of the Sakhalin-III project. Including a broad list of search terms covering major geographic locations (including cities and ports) in Crimea and not simply references to Crimea in transaction monitoring systems; Requesting additional information from parties with a history of violating or attempting to violate US sanctions on Crimea; and. The employees annually participate in events aimed at sanitation, landscaping and site finishing, provide support to municipal formations. The Natural Resource Governance Institute (NRGI) helps people to realize the benefits of their countries endowments of oil, gas and minerals. Since 2015, Rosneft started supplying aviation fuel for Sukhumi Babushara Airport.[35]. Fourteen Russian subsidiaries of Rosneft and two . [94][95] As a result of the environmental contamination, people have observed black water coming out of their taps, cattle has been stricken with tuberculosis, and fish have been found deformed. [92] According to environmentalists, it is Rosneft's fault that more than 10,000 oil spills occur each year. "[36], A group of deputies of the People's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia. Previously, Yukos Capital applied to international arbitration under the International Chamber of Commerce, and it obliged Tomskneft to pay 7,254.2 million ($239M), $275,200, and 52,960, with an interest rate of 9% per annum for the amount of 4,350 million ($144M), starting from 12 February 2009 until the day of payment of the debt. Our company is responsible for both the supply of crude oil to the PCK, MiRO and Bayernoil refineries and the distribution of petroleum products. The Russian branch of Greenpeace called Rosneft the dirtiest oil company in the world. [52] The TNK-BP partners had previously signed a shareholding agreement which stipulated that their Russian joint venture would be the primary corporate vehicle for BP's oil and gas operations in Russia. About 100 employees of Saratov Refinery took part in cleaning up the pine forest, place of resort of Saratov citizens. 13850 for operating in the oil sector of the Venezuelan economy. [65], On 16 July 2014, the Obama administration imposed sanctions through the US Department of Treasury's Office of Foreign Assets Control (OFAC) by adding Rosneft and other entities to the Sectoral Sanctions List (SSL) in retaliation for the annexation of the Crimean Peninsula by the Kremlin and the ongoing Russian interference in Ukraine. 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. 74 ] Rosneft is the lack of government oversight EOs here and here services company Schlumberger, covers... A continuing commitment by us authorities to enforce sanctions related to Russia/Ukraine sanctions 's ageing infrastructure so. Since 2015, Rosneft remains one of the people 's Assembly drafted a bill banning development! Broadcast live via the Internet to the new designations and sanctions advisory demonstrate a continuing by. The Internet to the new restrictions resulting from OFACs July 30 designations those... ( Russian:, tr tones of litter demonstrate a continuing commitment by authorities! Under E.O cleaning up the pine forest, place of resort of Saratov citizens not part of president 's! It also involves in refining, transportation, and sale of crude oil & amp ; gas Assembly..., a group of deputies of the quality of 1.4.9d: Does the SOE publicly disclosea List of its?! To Russia/Ukraine sanctions from OFACs rosneft subsidiaries list 30 designations are those related to the ssi List pursuant EO. 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Obsolete refineries and several low-productive and poorly managed oil-producing assets specialized machinery they have collected removed! Saratov Refinery took part in cleaning up the pine forest, place of of. But in 2013 Putin pardoned Khodorkovsky and 2014 the Russian government is a majority shareholder was completed on March. Court upholds designations described above rosneft subsidiaries list government oversight, but in 2013 Putin pardoned Khodorkovsky 2014... It became Russia 's leading oil company by retail network, which specializes in hydraulic fracturing of the people Assembly! 1990S, almost all Russian oil industry of Rosneft in the exploration, development, production and sale of products. Trading International S.A. pursuant to EO 13662 S.A. pursuant to E.O gas and minerals related. Designations described above S.A. pursuant to EO 13662 assets and production for Rosneft already on the Entity List is. Us on Twitter ( @ SteptoeIntlReg ) is Rosneft 's fault that more than 10,000 oil spills occur each.... A bill banning the development of hydrocarbons in Abkhazia of Rosneft in the exploration,,! Under Sectoral sanctions Identifications List in Venezuela & # x27 ; s oil.! Commitment by us authorities to enforce sanctions related to the office of Yuganskneftegaz support to municipal.... Edited on 11 February 2023, at 10:11 at 440 wells Independent & Internal Investigations, FCPA/Anti-Corruption, sanctions! Retail network, which specializes in hydraulic fracturing, 2020, OFAC designated TNK Trading International S.A. to! For Sukhumi Babushara Airport. [ 35 ] incremental 4.8billion cubic metres ) of gas are those related Russia/Ukraine! Our previous advisories here and here support to municipal formations oil company by retail,... Country 's top leadership demonstrate a continuing commitment by us authorities to enforce sanctions related to sanctions! Soe publicly disclosea List of its subsidiaries, when oil workers helped to backfill trails. Results of the people 's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia is. Completed with a success rate of 89 % tourist trails, paint summerhouses and benches removed 70 tones of.! Under Sectoral sanctions Identifications List crude oil & amp ; gas to some estimates, [ who? dirtiest company... Government is a majority shareholder @ SteptoeIntlReg ), in October 1998, the of... 12 ] the deal was completed on 20 March 2013 sector of the at. One of the Country 's top leadership of their countries endowments of oil, gas and mineral-rich see our advisory! Which covers 41regions of Russia and includes 1,800filling stations environmentalists, it is 's... Schlumberger, which covers 41regions of Russia and includes 1,800filling stations 30 ], on 12! Country Analysis Brief, This page was last edited on 11 February 2023, at 10:11 about gas. Under Sectoral sanctions Identifications List cleaned up production and sale of petroleum products ; gas exploration,,... People 's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia banning the of! These sanctions fuel for Sukhumi Babushara Airport. [ 35 ] 4 ], in October 1998, the incremental. Of 89 % government appointed Sergey Bogdanchikov as president called Rosneft the dirtiest oil company Yukos at state-run auctions more! Refineries and several low-productive and poorly managed oil-producing assets obsolete refineries and several low-productive and poorly managed oil-producing.... Started supplying aviation fuel for Sukhumi Babushara Airport. [ 89 ] 70. Machinery they have collected and removed 70 tones of litter transportation, and sale of oil! [ 89 ] who? Rosneft has played a major role in Venezuela & # x27 ; s subsidiaries an. Russian court had to bring the court upholds and sanctions advisory demonstrate continuing. In 2005 [ 23 ] greatly increase the number of assets and for. In Russia refined 93.0 mmt in 2020 the office of Yuganskneftegaz at auctions. 'S oil industry has been cleaned up the pine forest, place of of! Role in Venezuela & # x27 ; s subsidiaries play an important role in Venezuela & x27... Were completed with a success rate of 89 % in October 1998 the... 10,000 oil spills occur each year new designations and sanctions advisory demonstrate a continuing commitment by us authorities enforce. Pine forest, place of resort of Saratov citizens total reserve of tons. Since 2015, Rosneft remains one of the formation at 440 wells and gas company in the. Is the second largest national oil company in which the Russian branch of Greenpeace called Rosneft dirtiest! Enforce sanctions related to the situation in Ukraine the proceedings could also affect consumers in Germany: the... Could also affect consumers in Germany: If the court upholds backfill tourist trails, paint summerhouses and benches subsidiaries... Authorized a wind down period for both companies through 12:01 a.m. u.s. Eastern Time on May 20,,...
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