Related Articles
Forward article link
Share PDF with colleagues

Rosneft grows as supermajor status beckons

Its growth plan is aggressive, can Russia's state oil firm step out of the shadows to become a truly global player?

To understand the problem facing Russian state oil and gas firm Rosneft in its quest to become the world's next supermajor, consider the following: in June 2012, the combined value of Rosneft and its takeover target TNK-BP was $108 billion; a year later, when its management unveiled a plan to pay TNK-BP minority shareholders less for their stock than the March takeover price, that had fallen to $77bn.  With the $55bn acquisition of TNK-BP, a Russian joint venture between BP and a group of Russian oligarchs, Rosneft was catapulted into the world's largest listed oil company by output, with production of more than 4.5m barrels a day (b/d), which is about 40% of Russia's total. Yet even as inv

Also in this section
Venezuela going for broke
16 January 2018
The Maduro government wants a new deal on its debt. Things are going to get messy
Iraqi Kurdistan sinking fast
11 January 2018
The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing
Iraqi Kurdistan's wrong turn
11 January 2018
Burdened by political and economic crises at home, the autonomous region faces difficult talks with a newly confident federal government in Baghdad