Rosneft: bruised but not beaten
The loss of a valuable US partner has shaken Rosneft, but it's sticking to its expansion plans and global investment strategy
Rosneft is on the backfoot after US sanctions on Russia forced ExxonMobil to abandon their joint venture in Siberia, while a deal to sell a stake to a Chinese investor may have hit the rocks after an arrest. Shares in Russia's oil champion tanked by as much as 5% in the three days after 28 February when Exxon announced that it was abandoning drilling ventures with Rosneft because of expanded US sanctions. That body blow was followed a day later by news that CEFC China Energy chairman Ye Jianming was being investigated for suspected financial crimes. The case jeopardises the Chinese group's $9bn acquisition of a 14% stake in Rosneft. While the CEFC deal may still be completed, the Exxon withd
Also in this section
20 January 2025
The country’s oil and gas giant, KazMunayGas, is pushing ahead with a series of significant international partnerships
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
