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Rosneft assumed to keep up CEFC contract

The contract on the crude oil shipment signed earlier by Rosneft and CEFC is out of danger in spite of the latter being recognized as bankrupt, Vedomosti informed referring to the sources close to the deal.

CEFC was going to acquire 14.16% in Rosneft for $9.1bn and to buy 10mln ton/year during the 5-year period. But the contract was canceled due to the financial problems at CEFC. Now CEFC is assumed to be restructured and split in three companies.

In particular, a trade sub should be formed under the same name due to the withdrawal. Then, it will be transferred to the new owner and, so far, succeed the contract with Rosneft.

Rosneft (TIN 7706107510) is the largest oil company in Russia. The proved reserves exceed 37.7bn barrel.

The share capital is equal 105.981mln rub. split in 10598177810 common stocks of 0.01 rub. par. On Sep. 1, 2017 the major holders involved Rosneftegaz (50%+1), BP Russian Investments Limited (19.75%), QHG Oil Ventures Pte. Ltd. (JV set up by Glencore and QIA, 19.5%).

The 2017 net profit (IAS) increased 27.6% to 222bn rub.; revenues - 20.6% to 6.014tril rub.

The 9-month 2017 net profit (RAS) rallied up 4.3 fold to reach 102.3bn rub.; revenues increased 15% to 3.265tril rub.; costs - 21.9% to 2.501tril rub.

"AK&M", 13:31, 13.06.2018 1251 AKM,COR


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