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  • Date of publication: 31 August 2020
  • 2545
  • businessbuysale.com
  • Rosneft completed the acquisition of shares in joint ventures c ExxonMobil

    Synopsis

    Rosneft in the second quarter of 2018 completed the acquisition of shares in joint ventures with ExxonMobil within the ExxonMobil exit of a number of joint projects. This is reported in the report of Rosneft under IFRS.

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Description

Rosneft in the second quarter of 2018 completed the acquisition of shares in joint ventures with ExxonMobil within the ExxonMobil exit of a number of joint projects. This is reported in the report of Rosneft under IFRS. 

 

As of June 30, 2018, the fair value of assets and liabilities in joint ventures was not finalized. The allocation of the acquisition cost to the fair value of the assets and liabilities acquired will be completed within 12 months from the acquisition date. Rosneft Oil Company (TIN 7706107510) is the largest oil company in Russia and the largest taxpayer in the country. Rosneft's proven reserves of hydrocarbons in the SEC classification exceed 37.7 billion barrels of oil equivalent. The authorized capital of the company is 105.981 million rubles. For this amount, 10598177810 ordinary shares with a par value of 0.01 rubles were issued. The largest shareholders of Rosneft on September 1, 2017 were Rosneftegaz (50% + 1 share), BP Russian Investments Limited (19.75%), QHG Oil Ventures Pte. Ltd. (JV Glencore and QIA, 19.5%). Net profit attributable to shareholders of Rosneft, according to IFRS for the first half of 2018 increased 4-fold to 309 billion rubles. from 75 billion rubles. a year earlier. Revenues from sales and income from associates and joint ventures increased by 34.8% to 3.787 trillion rubles. from 2.809 trillion rubles. The EBITDA was 950 billion rubles. against 639 billion rubles. (+ 48.7%).