Rapid changes at Rosneft altering Russia’s O&G sector

RUSSIA / FSU POLITICS - Report 23 Mar 2017 by Alex Teddy and Alexei Panin

Since the start of 2017 Rosneft has announced news on foreign projects almost on a weekly basis: March 21 the company agreed with Egypt on delivery of 10 tankers of LNG for the year, following plans to exploit the Zohr gas field in the Mediterranean alongside Eni and BP. In February, it settled on oil purchases from Iraqi Kurdistan while simultaneously readying for exploitation of Iraqi oil fields acquired through its deal for Bashneft. Rosneft is also seeking to compete for rights to deposits in the Gulf of Mexico (likely in a consortium with ExxonMobil). There have also numerous smaller agreements, such as with Turkish firms, finalizing the Essar Oil acquisition in India (with Trafigura and UCP) and M&A in Italy and Germany.

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