Editing Rosneft (section)

==History==
=== Origins ===
Rosneft has played a major role in the history of Russia's [[Petroleum industry|oil industry]]. The first use of the name ''Rosneft'' dates back to the late 19th century{{citation needed|date=May 2023}}, when [[Hydrocarbon exploration|exploration]] of oil fields in [[Sakhalin]] began in 1889. Most of Rosneft's current assets were acquired during the [[Soviet Union|Soviet]] era.<ref name="History"/>

=== 1990s ===

Rosneft was established in 1993 as a [[unitary enterprise]] with assets previously held by Rosneftegaz, the successor to the [[Soviet Union]]'s [[Ministry of Oil Industry]]. During the early 1990s, almost all Russian oil companies and refineries were extracted from Rosneft to form ten integrated companies. Later their number was halved as a result of acquisitions. On 29 September 1995, an [[Order of the Government of Russia]] No. 971 transformed Rosneft into an [[open joint stock company]].<ref>{{cite web |url=https://www.oxfordenergy.org/wpcms/wp-content/uploads/2012/01/WPM_44.pdf|title=On the Road to Global NOC Status? |date=January 2012 |first=James |last=Henderson |website=[[Oxford Institute for Energy Studies]] |publisher=University of Oxford |access-date=5 May 2020}}</ref>

In March 1996, Rosneft founded the [[Russian Regional Development Bank]].<ref name="bbg">{{cite web |title=Russian Regional Development Bank OAO |url=https://www.bloomberg.com/profile/company/VBRR:RU |publisher=Bloomberg |access-date=16 June 2020}}</ref><ref name="saleend">{{cite news |title=Sale of top Russian business newspaper 'Vedomosti' complete |url=https://meduza.io/en/news/2020/05/29/sale-of-top-russian-business-newspaper-vedomosti-complete |publisher=Meduza |date=29 May 2020}}</ref>

Rosneft struggled financially and operationally during the [[1998 Russian financial crisis]] with decreased production due to poor assets and lower retail sales with an underused refining capacity. In July 1998 the Russian government tried to sell Rosneft, but it failed.<ref>{{cite web|url=http://www.ponarseurasia.org/memo/lessons-half-learned-comparing-1998-and-2014-ruble-crises|title=Comparing the 1998 and 2014 Ruble Crises |date=July 2015|work=Ponars Eurasia|access-date=5 May 2020}}</ref>

In October 1998, the Russian government appointed [[Sergey Bogdanchikov]] as president.<ref>{{cite news |url=https://www.nytimes.com/1998/10/25/business/business-russian-oil-so-much-yet-so-little.html |title=Russian Oil: So Much, Yet So Little|date=25 October 1998|work=[[The New York Times]] |first=Agis |last=Salpukas |access-date=5 May 2020}}</ref> The company owned two obsolete refineries and several low-productive and poorly managed oil-producing assets. In the late 1990s, plans for Rosneft's [[privatization in Russia]] were made, but due to competition with equally influential [[pretender]]s, they were not carried out.<ref name="History" />

=== 2000s ===
From 2002 to 2004, the company's primary objectives were strengthening control over its assets, reducing the debt burden, and obtaining licenses in Eastern Siberia. The determining factor in enhancing the role of Rosneft in the Russian oil industry has been the support of the country's top leadership.{{vague|date=June 2023}} The company, during this time, managed to restore its status after its rough start in the 1990s with the acquisition of Krasnodar Oil and Gas Company in 2002 and Northern Oil Company in early 2003. In addition, in 2002, the company received a license for the development of the Sakhalin-IV and Sakhalin-V project,<ref>{{cite journal |url=https://carnegieendowment.org/files/Rosneft.pdf |title=Rosneft as a Mirror of Russia's Evolution |via=[[Carnegie Endowment for International Peace]] |access-date=5 May 2020 |first=Nina |last=Poussenkova |publisher=Institute of World Economy and International Relations, Russian Academy of Sciences |journal=Pro et Contra |volume=10 |issue=2 |date=June 2006}}</ref> and in 2003 a license for the development of the [[Sakhalin-III]] project.{{Citation needed|date=November 2020}}

In 2005, Rosneft acquired a 25.94% stake in the company [[Verkhnechonsk field|Verkhnechonskneftegaz]]<ref>{{cite book |url={{GBurl|sPZ6zQEACAAJ|page=67}} |title=Russia Oil and Gas Exploration Laws and Regulation Handbook (Vol.1) |date=2013 |work=International Business Publications USA |pages=67 |isbn=978-1-4330-7894-1 |access-date=19 May 2020 |last1=Usa |first1=Usa Ibp |publisher=International Business Publications, USA }}</ref> and became the leading oil company of Russia in terms of production.<ref name="History" /><ref name="term">{{cite web|url=https://www.azernews.az/oil_and_gas/126234.html |title=SOCAR to export Russian oil products|date=29 January 2018|work=AzerNews|access-date=11 May 2020}}</ref>

In 2007, the company for the first time entered the annual list of one hundred most respected firms and companies in the world according to the weekly ''Barron's'', in 99th place.<ref>{{Cite news|url=http://www.rbcdaily.ru/2007/09/16/world/293271 |script-title=ru:Авторитеты из России |trans-title=Authorities from Russia |date=9 September 2012 |work=[[RBK Daily]] |access-date=21 March 2018 |url-status=dead |archive-url=https://archive.today/20120909102522/http://www.rbcdaily.ru/2007/09/16/world/293271 |archive-date=9 September 2012 |first=Roman |last=Kirillov |language=ru}}</ref> By the same year, Rosneft produced 100 million barrels of oil, 20% of Russia's output at the time.<ref name="History" /> In March 2007, Rosneft had announced it hoped to increase production from 80&nbsp;million tonnes to 103 million tonnes from 2006 to the end of 2007, extract 140&nbsp;million tonnes of oil by 2012, and become a global top three energy company.<ref>{{cite news|url=http://www.petroleumworld.com/story07090309.htm |title=Russia's Rosneft Aiming to Become Top Global Oil Company |date=9 March 2007 |agency=AFP |work=Petroleumworld |publisher=Elio Ohep Fitzgerald |url-status=dead |archive-url=https://web.archive.org/web/20150510011755/http://www.petroleumworld.com/story07090309.htm |archive-date=10 May 2015}}</ref>

When the [[Great Recession]] struck Russia in late 2008, Rosneft was able to endure the economic pains by improving and strengthening business lines, management, and [[transparency (behavior)|transparency]], and as a result, became a leading oil company domestically and internationally.<ref name="History" />

In February 2009, a number of agreements were negotiated between Russia and China that provided a 20-year contract for an annual supply of 15 million tons of oil between the [[China National Petroleum Corporation|Chinese National Petroleum Corporation]] (CNPC) and Rosneft, cooperation between CNPC and [[Transneft]] to construct and operate a branch of the [[Eastern Siberia–Pacific Ocean oil pipeline|Eastern Siberia–Pacific Ocean]] (ESPO) oil pipeline to China, and the provision of loans for US$25 billion—US$15 billion from Rosneft and US$10 billion from Transneft—by the [[China Development Bank]] on the [[Security (finance)|security]] of supplies.<ref>{{cite book |url={{GBurl|EpadDQAAQBAJ}} |title=The Challenge of BRIC Multinationals |date=2017 |work=Emerald Group Publishing Limited |pages=461 |isbn=978-1-78635-349-8 |access-date=14 May 2020 |last1=Tulder |first1=Rob van |last2=Verbeke |first2=Alain |last3=Carneiro |first3=Jorge |last4=Gonzalez-Perez |first4=Maria Alejandra|publisher=Emerald Group }}</ref><ref>{{cite web|url=https://www.spglobal.com/platts/en/market-insights/latest-news/oil/020714-russias-rosneft-chinas-cnpc-in-talks-on-upstream-pact-deals-possible-by-may-reports|title=Russia's Rosneft, China's CNPC in talks on upstream pact, deals possible by May: reports |date=7 February 2014 |work=S&P Global Platts |access-date=14 May 2020}}</ref><ref>{{cite book |url={{GBurl|yxk4paS_HfUC|page=342}} |title=Rebalancing and Sustaining Growth in China|date=2012|work=The Australian National University |pages=342 |isbn=978-1-921862-80-9 |access-date=14 May 2020 |last1=McKay |first1=Huw |last2=Song |first2=Ligang|publisher=ANU E Press }}</ref>

====Acquisition of assets of Yukos====
{{See also|Yukos}}
[[File:Moscow, Sofiyskaya embankment.jpg|thumb|265px|The Rosneft headquarters next to the [[Saint Sophia Church, Moscow|Saint Sophia Church]] on the bank of the Moskva River]]
Starting in 2004, the Russian government organized a series of auctions to sell the assets of [[Yukos]] Oil Company, of which Rosneft won the majority. On 22 December 2004, Rosneft purchased [[Baikal Finance Group]], which bought [[Yuganskneftegaz]] (Yugansk), a main asset of Yukos, three days earlier at a state-run auction for [[United States dollar|US$]]9.35 billion to satisfy tax debts.<ref name="asset">{{cite news |url=https://www.ft.com/content/f371c836-1645-11e4-93ec-00144feabdc0 |title=Timeline: The rise and fall of Yukos |work=[[Financial Times]] |date=28 July 2014 |access-date=11 May 2020 |url-access=subscription}}</ref> According to some estimates,{{who|date=January 2015}} this operation was directed by Russian authorities in order to nationalize Russia's oil and gas industry. In response to the deal, [[Andrei Illarionov]], then a senior Putin economic advisor, denounced it as "fraud of the year".<ref>{{Cite news |url=http://www.mosnews.com/money/2004//12/28//illarionov.shtml |title=Putin's Advisor Calls Yuganskneftegaz Sale "Fraud of the Year" |date=29 December 2004 |work=MosNews |access-date=21 March 2018 |url-status=usurped |archive-url=https://archive.today/20041229122106/http://www.mosnews.com/money/2004//12/28//illarionov.shtml |archive-date=29 December 2004}}</ref>

In 2005, [[Mikhail Khodorkovsky]] (former chairman of [[Bank Menatep|Menatep]]) and [[Platon Lebedev]] (business partner of Khodorkovsky) were sentenced to nine years in prison for fraud and [[tax evasion]]. In February 2007, they were charged again and accused of stealing $25 billion worth of oil from Yukos subsidiaries. They were convicted, but in 2013 [[Vladimir Putin|Putin]] pardoned Khodorkovsky and 2014 the [[Supreme Court of Russia|Russian supreme court]] announced that Lebedev should also be freed early.<ref name="asset" />

The purchase of Yugansk in 2005<ref>{{cite news |url=http://news.bbc.co.uk/2/hi/business/4315593.stm |title=Managers' row hits Russian merger|date=3 March 2005 |work=[[BBC News]] |access-date=11 May 2020}}</ref> greatly increased the number of assets and production for Rosneft. Subsequently, Rosneft filed a lawsuit against Yukos in connection with the use of the understated transfer prices for the purchase of oil from Yuganskneftegaz prior to its breakup. At the same time, Rosneft itself also purchased oil and gas from its subsidiary, Yuganskneftegaz, at [[Transfer pricing|transfer prices]].{{Citation needed|date=March 2018}}

[[File:RF NG pipestoEU.gif|thumb|180px|Major existing and planned natural oil and gas pipelines supplying [[Petroleum industry in Russia|Russian oil and gas]] to Europe]]
In May 2007, Rosneft won a number of auctions for the sale of Yukos' assets, including five refineries and oil companies Tomsk Oil Company and Samara Oil and Gas Company, making it the largest oil company in Russia. According to experts on the Russian newspaper ''[[Vedomosti]]'', the assets of Yukos, bought by Rosneft at auction organized by the state, went to the company at a discount of 43.4% of the market price of this property. In 2007, the former assets of Yukos provided 72.6% of oil and gas condensate production and 74.2% of Rosneft's primary refining.<ref name="dcv">{{cite news |url=http://www.vedomosti.ru/newspaper/article.shtml?2007/09/25/133276 |script-title=ru:Прокурорский дисконт |trans-title=Prosecutor's discount |first=Irina |last=Reznik |date=25 September 2007 |work=[[Vedomosti]] |url-access=subscription |language=ru}}</ref> In June, Rosneft paid $731&nbsp;million for the transportation assets of Yukos, which had declared bankrupt in August 2006 after three years of litigation over tax arrears.<ref name=eurasia1>{{cite web |publisher=Oil & Gas Eurasia |url=http://www.oilandgaseurasia.com/articles/p/36/article/343/ |title=Rosneft Gets More of Yukos |date=June 2007 |access-date=27 August 2007 |archive-url=https://web.archive.org/web/20120208084343/http://www.oilandgaseurasia.com/articles/p/36/article/343/ |archive-date=8 February 2012 }}</ref> In August, Bogdanchikov said that although the Yukos acquisitions had increased Rosnefts debt to $US&nbsp;26 billion, he planned to reduce debt to 30% of total assets by 2010 by tripling refining capacity and expand into China.{{citation needed|date=April 2023}}

====Initial public offering of 2006====
In July 2006, Rosneft placed 15% of its shares traded with a total value of US$10.7 billion in an [[initial public offering]] (IPO) at the [[London Stock Exchange]], the [[Russian Trading System]], and the [[Moscow Interbank Currency Exchange]]. Part of the shares were distributed among the Russian population through banks such as [[Sberbank of Russia|Sberbank]] and [[Gazprombank]].<ref name="History" /><ref>{{cite book |url={{GBurl|6QjcAAAAQBAJ}} |title=Power and Policy in Putins´s Russia|date=2009|publisher=Routledge |isbn=978-1-317-98994-3 |access-date=14 May 2020|last1=Sakwa|first1=Richard}}</ref><ref>{{cite book |url={{GBurl|VJ1FCgAAQBAJ}} |title=Mergers, Acquisitions, and Other Restructuring Activities |date=2012 |pages=574 |isbn=978-0-12-801610-7 |access-date=14 May 2020|last1=Depamphilis|first1=Donald|publisher=Academic Press }}</ref>

The [[Federal Financial Markets Service|Federal Service for Financial Markets]] authorized the placement and circulation outside the country of a 22.5% stake in Rosneft.<ref>{{cite web|url=https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ROSN/13622556.html |title=Consolidated financial statements 2017|date=31 December 2017|work=London Stock Exchange|access-date=19 May 2020}}</ref>

Rosneft announced a placement value of US$5.85–7.85 per share and [[global depository receipt]] (GDR), based on the company's capitalization after [[Reverse stock split|consolidation]] of US$60–80 billion. It planned to place shares for at least US$8.5 billion in order to repay loans to Western banks, including interest and taxes.<ref>{{cite web|url=https://www.thestar.com.my/news/nation/2006/07/14/investors-eagerly-await-rosneft-ipo-petronas-among-bidders|title=Investors eagerly await Rosneft IPO, Petronas among bidders|date=14 July 2006|work=TheStar|access-date=19 May 2020}}</ref>

On 14 July, the official results of the placement value were announced. Shares were priced at US$7.55, almost at the upper end of the price band, resulting in Rosneft's [[Market capitalization|capitalization]]—taking into account the upcoming consolidation of its subsidiaries—at a value of US$79.8 billion, making Rosneft surpass [[Lukoil]] as the largest oil company in Russia. Investors bought 1.38 billion shares for US$10.4 billion: 21% of the shares were bought by strategic investors, 36% from international investors from North America, Europe, and Asia, 39% from Russian investors, and 4% from Russian retail investors. 49.4% of the total IPO volume accounted for four investors, including [[BP]] for US$1 billion, [[Petronas]] for US$1.5 billion, and the [[China National Petroleum Corporation|CNPC]] for $0.5 billion. Individuals submitted applications for the purchase of 99,431,775 shares of the oil company, and as a result, most of the new shareholders were individuals; partly because of this IPO was given the unofficial name of "people's."<ref>{{cite news |url=http://www.ipocongress.ru/rus/analytics/articles/id/3988/ |script-title=ru:"Роснефть": "народное IPO" обернулось скандалом |trans-title=Rosneft: "people's IPO" turned into a scandal |date=9 June 2010|work=ipocongress.ru|access-date=22 March 2018|archive-url=https://web.archive.org/web/20120202183107/http://www.ipocongress.ru/rus/analytics/articles/id/3988/|archive-date=2 February 2012|url-status=dead |language=ru}}</ref><ref>{{Cite news|url=https://www.kommersant.ru/doc/1499211|title=ОАО НК Роснефть |trans-title=OJSC NK Rosneft |date=9 June 2010 |work=[[Kommersant]] |access-date=21 March 2018|pages=9}}</ref>

Rosneft's IPO became the largest in the history of Russia and the fifth in the world in terms of the amount of money raised at the time. The announced amount could increase by another US$400 million if the global placement coordinators realize the option of buying another 53 million GDRs of Rosneft at the price of placement within 30 days.<ref name="History" />

==== On Abkhazia ====
{{See also|Abkhazia}}

On 26 May 2009, a five-year cooperation agreement was negotiated between Rosneft and the [[Abkhazia]]'s Ministry of Economy. The parties stated their intention to develop mutually beneficial cooperation in areas as [[Prospecting|geological prospecting]], development of oil and gas fields, production of [[hydrocarbon]]s, and sale of oil, natural gas and oil products. Rosneft undertook [[Hydrocarbon exploration|exploration]] on the shelf in the Ochamchire area, discovering preliminary reserves estimated at 200 million to 500 million tons of oil equivalent. In addition to drilling and creating its own sales network, Rosneft also planned the construction of mini-refineries in Abkhazia.<ref>{{cite press release |url=http://www.rosneft.ru/news/pressrelease/26052009.html |date=26 May 2009 |script-title=ru:НК «Роснефть» и Минэкономики Абхазии договорились о сотрудничестве |trans-title=NK "Rosneft" and the Ministry of Economy of Abkhazia agreed on cooperation |archiveurl=https://web.archive.org/web/20101127222258/http://www.rosneft.ru/news/pressrelease/26052009.html |archivedate=2010-11-27 |publisher=Rosneft |language=ru |access-date=22 March 2018}}</ref><ref>{{Cite web |url=http://www.expert.ru/articles/2009/08/25/rosnanhaz/ |title="Роснефть" признала Абхазию |trans-title=Rosneft recognized Abkhazia |work=Expert Online 2.0 |date=31 August 2009|access-date=22 March 2018|url-status=bot: unknown|archive-url=https://web.archive.org/web/20090831212102/http://www.expert.ru/articles/2009/08/25/rosnanhaz/|archive-date=31 August 2009}}</ref>

According to Rosneft, the company provides more than half of the retail sales of oil products in Abkhazia. In 2014, Rosneft exported 47 thousand tons of oil products to Abkhazia. Since 2015, Rosneft has been supplying aviation fuel for [[Sukhumi Babushara Airport]].<ref name="росн">{{cite press release |url=http://www.rosneft.ru/news/pressrelease/310720152.html |script-title=ru:Позиция «НК «Роснефть» по вопросу о сотрудничестве с республикой Абхазия |trans-title=Position of "NK" Rosneft "on the issue of cooperation with the Republic of Abkhazia |date=31 July 2015 |publisher=Rosneft |language=ru |access-date=22 March 2018 |archive-url=https://web.archive.org/web/20150803044506/http://www.rosneft.ru/news/pressrelease/310720152.html |archive-date=2015-08-03}}</ref>

As part of the project to develop the Gudauta area on the Black Sea shelf, Rosneft carried out a full range of geophysical and geochemical research, conduct 2D and 3D seismic surveys, and start preparations for exploratory drilling.<ref name="росн" /> In June 2014, Rosneft extended the shelf study period to five years.{{citation needed|date=October 2024}}

In July 2015, however, the new President of Abkhazia, [[Raul Khajimba]], who replaced [[Alexander Ankvab]] after his resignation, spoke out against the exploration and production of oil on the offshore shelf of Abkhazia and asked the [[People's Assembly of Abkhazia|People's Assembly]] to consider the possibility of establishing a "commission for the comprehensive study of issues related to the conclusion of contracts for exploration and production hydrocarbons by the previous Abkhaz leadership."<ref name="вести">{{cite news |url=http://www.vestifinance.ru/articles/60776 |script-title=ru:Власти Абхазии вытесняют "Роснефть" из страны |trans-title=Abkhazian authorities oust Rosneft from the country |language=ru |work=Vesti Finance |access-date=22 March 2018 |archive-date=23 March 2018 |archive-url=https://web.archive.org/web/20180323031015/http://www.vestifinance.ru/articles/60776 |url-status=dead }}</ref>

A group of deputies of the People's Assembly drafted a bill banning the development of hydrocarbons in Abkhazia. Supporters of the bill demanded the prohibition of the development of the offshore shelf in Abkhazia for 30 years.<ref name="вести" />

=== 2010s ===
In September 2010, Eduard Khudainatov replaced Sergei Bogdanchikov as [[CEO]] of the company.<ref>{{cite news |url=http://www.rosneft.ru/news/pressrelease/05092010.html |script-title=ru:Решением Совета директоров Президентом ОАО "НК "Роснефть" назначен Эдуард Худайнатов |trans-title=By the decision of the Board of Directors, Eduard Khudainatov was appointed President of Rosneft |language=ru |date=9 June 2010 |work=Rosneft |access-date=22 March 2018}}</ref>

On 15 October 2010, [[President of Russia|Russian President]] [[Dmitry Medvedev]] signed an agreement with [[President of Venezuela]] [[Hugo Chávez]] for the [[PDVSA]] to sell 50% of the shares of German company Ruhr Oel to Rosneft, giving Rosneft oil refining assets in Germany.{{cite news |url=https://www.rosneft.com/business/Downstream/Neftepererabotka/Acquisition_of_a_stake_in_Ruhr_Oel_GmbH/ |title=Stake in Ruhr Oel GmbH |website=Rosneft}}

Since 23 May 2012, former Deputy Prime Minister [[Igor Sechin]] became the company's CEO, succeeding [[Eduard Khudaynatov|Khudaynatov]], who received the post of vice-president.<ref>{{cite news|url=http://www.gazeta.ru/business/news/2012/05/23/n_2355721.shtml |script-title=ru:Совет директоров назначил Сечина президентом "Роснефти", Худайнатов стал его замом |trans-title=The board of directors appointed Sechin president of Rosneft, Khudainatov became his deputy |language=ru |work=[[Gazeta.Ru]] |access-date=22 March 2018}}</ref>

In the summer of 2012, Rosneft purchased a fuel oil terminal from the [[United Shipbuilding Corporation]] (USC) located on the territory of the Murmansk Ship Repair Plant No. 35. The transaction value is estimated at [[United States dollar|US$]]28 million. According to ''[[Kommersant]]'', the Murmansk terminal can be used as a platform for Rosneft's activities in the Arctic.<ref>{{Cite news |url=http://www.kommersant.ru/doc/1982144 |script-title=ru:"Роснефть" вышла на причал в Мурманске |trans-title=Rosneft went to the pier in Murmansk |date=17 July 2012 |work=[[Kommersant]] |access-date=22 March 2018 |pages=9 |language=ru}}</ref>

In October 2016, Rosneft bought a 49% stake in [[Essar Oil]] of India, along with Russian investment fund United Capital, in a deal worth $13 billion.<ref>{{cite news |url=http://indianexpress.com/article/business/economy/brics-summit-2016-rosneft-partners-buy-essar-oil-for-13-billion-in-largest-fdi-deal-3084527/ |title=Rosneft, partners buy Essar Oil for $13 billion in largest FDI deal |date=15 October 2016 |work=The Indian Express}}</ref>

On 7 December 2016, Rosneft signed a deal to sell 19.5% of the outstanding shares, or roughly US$11 billion, to the Anglo-Swiss multinational commodity trader [[Glencore]] and the [[Qatar Investment Authority]].<ref>{{Cite web|url=http://www.businessinsider.com/carter-page-trump-russia-igor-sechin-dossier-2017-1|title = Memos: CEO of Russia's state oil company offered Trump adviser, allies a cut of huge deal if sanctions were lifted |work=Business Insider |first=Natasha |last=Bertrand |date=27 January 2017}}</ref> Officially, the stake was split 50/50 between Glencore and Qatar, but Glencore contributed only €300 million and claims only a 0.54% stake. The ownership structure includes a [[Cayman Islands]] company, QHG Cayman Limited, whose ownership can not be traced.<ref>{{cite web|url=https://www.reuters.com/article/us-russia-rosneft-privatisation-insight-idUSKBN1582OH |title=How Russia sold its oil jewel: without saying who bought it|date=25 January 2017|publisher=Reuters}}</ref> After the transaction, Rosneft's [[holding company]] Rosneftegaz retained 50% + 1 share of the company.<ref>{{Cite news|url=http://www.vedomosti.ru/business/articles/2016/12/08/668719-glencore-tsena-pokupki-rosnefti |title=Glencore: цена покупки пакета "Роснефти" – 10,2 млрд евро |trans-title=Glencore: purchase price of Rosneft stake – 10.2 billion euros |last=Ведомости |date=8 December 2016 |access-date=22 March 2018}}</ref>

On 2 October 2017, the [[People's Liberation Army|PLA]]-linked [[CEFC China Energy]]<ref>{{cite news |url=https://www.ft.com/content/e3f8cbd2-983f-11e7-a652-cde3f882dd7b |title=Opaque Chinese oil group makes clear gains in former Soviet bloc |work=[[Financial Times]] |date=13 September 2017 |url-access=subscription}}</ref> bought a $9 billion stake in Rosneft.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2017-10-02/why-cefc-spent-9-billion-on-rosneft-while-seeing-30-oil-risk |title=Why an Enigmatic Chinese Company Just Spent $9 Billion on a Stake in Rosneft |work=Bloomberg |date=2 October 2017}}</ref>

On 26 September 2017, the Russian government [[Gerhard Schröder#Relationship with Russian companies|controversially]] approved the former [[Chancellor of Germany|German chancellor]] [[Gerhard Schröder]] as chairman of Rosneft.<ref>{{Cite web |url=http://runews24.ru/politics/26/09/2017/bbb36e42d7f6cd47c67f1acdc5f7f854 |script-title=ru:Власти утвердили Шредера кандидатом на пост главы "Роснефти" |trans-title=The authorities approved Schroeder as a candidate for the post of head of Rosneft |website=runews24.ru |language=ru |access-date=22 March 2018}}</ref>

In May 2018, it was announced that the Qatar-Glencore consortium is cancelling the plan to sell a $9.1 billion (14%) stake of Rosneft to [[CEFC China Energy]]. With the dissolution of the consortium, the [[Qatar Investment Authority]] purchased the shares instead, thereby solidifying its position as one of the biggest shareholders (19%) of Rosneft.<ref>{{cite news |first1=N. |last1=Hume |first2=D. |last2=Sheppard |date=4 May 2018 |url=https://www.ft.com/content/402ab57c-4fb6-11e8-9471-a083af05aea7 |title=Qatar and Glencore scrap plan to sell $9bn Rosneft stake to CEFC |work=[[Financial Times]] |access-date=1 June 2018 |url-access=subscription}}</ref>

In the 2010s, the extensive contact between Rosneft and [[ExxonMobil]] were further deepened, with Igor Sechin and [[Rex Tillerson]] getting to know each other personally.<ref name="offshorepartnerships" />

====Arctic shelf deals with BP and ExxonMobil====
{{see also|East-Prinovozemelsky field}}
[[File:EPNZ 1-3 oil and gas areas.png|thumb|180px|Location of the EPNZ-1, EPNZ-2 and EPNZ-3 oil and gas areas in the Kara Sea]]
On 15 January 2011, Rosneft and [[BP]] announced a deal to develop the [[East-Prinovozemelsky field]] on the [[Russian continental shelf|Russian arctic shelf]] between the [[Yamal Peninsula]] and [[Novaya Zemlya]] island.<ref name=alliance>{{cite web|url=http://www.rosneft.ru/attach/0/62/46/Rosneft_Strategic_Alliance_with_BP.pdf|title=Rosneft Strategic Alliance with BP|publisher=Rosneft|date=January 2011|access-date=30 January 2011|archive-url=https://web.archive.org/web/20121030112213/http://www.rosneft.ru/attach/0/62/46/Rosneft_Strategic_Alliance_with_BP.pdf|archive-date=30 October 2012}}</ref><ref name="offshorepartnerships" /> As part of the deal Rosneft was to receive 5% of BP's shares, worth approximately $7.8&nbsp;billion, as of January 2011 and BP would get approximately 9.5% of Rosneft's shares in exchange.<ref name="bbc_arcticdeal">{{cite news|url=https://www.bbc.co.uk/news/business-12195576|title=BP and Russia in Arctic oil deal |work=[[BBC News]] |url-status=live |date=14 January 2011 |archive-url=https://web.archive.org/web/20111102184656/http://www.bbc.co.uk/news/business-12195576 |archive-date=2 November 2011}}</ref><ref name="offshorepartnerships" /> According to the deal, the two companies would create an Arctic technology centre in Russia to develop technologies and engineering practices for safe arctic hydrocarbons extraction.<ref name="rosneft_arcticdeal">{{cite web|url=http://www.rosneft.com/news/pressrelease/15012011.html|title=Rosneft and BP Form Global and Arctic Strategic Alliance |publisher=Rosneft|date=14 January 2011|archive-url=https://web.archive.org/web/20120528120828/http://rosneft.com/news/pressrelease/15012011.html|archive-date=28 May 2012}}</ref> AAR, which represents four billionaires of Russian origin and is BP's Russian partner in the [[TNK-BP]] joint venture, blocked the BP–Rosneft deal in international courts, arguing it breached earlier contracts between BP and AAR.<ref>{{cite journal |last=Yenikeyeff |first=Shamil |url=http://www.oxfordenergy.org/wpcms/wp-content/uploads/2011/11/BP-Russian-billionaires-and-the-Kremlin.pdf|title=BP, Russian Billionaires, and the Kremlin: A Power Triangle That Never Was|journal=Oxford Energy Comment|date=23 November 2011|pages=18|publisher=The Oxford Institute of Energy Studies|access-date=24 November 2011}}</ref> The TNK-BP partners had previously signed a shareholding agreement which stipulated that their Russian joint venture would be the primary corporate vehicle for BP's oil and gas operations in Russia.<ref name="bp-tnk-bp">{{cite news |first1=Alexis |last1=Flynn |first2=Jacob |last2=Gronholt-Pedersen |url=https://www.wsj.com/articles/SB10001424052748703421204576331033490882712 |title=BP, Rosneft Still in Talks |newspaper=[[The Wall Street Journal]] |date=18 May 2011 |access-date=22 May 2011|archive-url=https://web.archive.org/web/20130517025644/http://online.wsj.com/article/SB10001424052748703421204576331033490882712.html |archive-date=17 May 2013|url-access=subscription }}</ref> On 30 August 2011, Rosneft announced that instead of BP, the partner for EPNZ-1, EPNZ-2 and EPNZ-3 in the [[Kara Sea]] will be ExxonMobil. In exchange, subject to approval by U.S. regulators, in addition to a share in oil production in Russian fields, Rosneft was granted participation in U.S. fields in Texas and the Gulf of Mexico.<ref name=upstream300811>{{cite news |url=http://www.upstreamonline.com/live/article275459.ece|title=ExxonMobil in $3.2bn Rosneft Arctic pact |newspaper=[[Upstream (newspaper)|Upstream Online]]|publisher=NHST Media Group|date=30 August 2011|access-date=31 August 2011 |url-access=subscription |archive-url=https://web.archive.org/web/20121007123538/http://www.upstreamonline.com/live/article275459.ece|archive-date=7 October 2012}}</ref><ref name=bloomberg300811>{{cite news|url=http://www.businessweek.com/ap/financialnews/D9PEK64G1.htm|title=Rosneft Teams Up with Exxon Mobil in Arctic Deal|first=Nataliya |last=Vasilyeva|agency=Associated Press |work=[[Bloomberg Businessweek]]|date=30 August 2011 |access-date=24 October 2012|archive-url=https://web.archive.org/web/20121102110700/http://www.businessweek.com/ap/financialnews/D9PEK64G1.htm|archive-date=2 November 2012}}</ref>

====Black Sea shelf deal with ExxonMobil====
On 27 January 2011, Rosneft and the American company [[ExxonMobil]] signed a deal to establish a [[joint venture]] for the purpose of prospecting and extracting oil from the [[Tuapse field]] deepwater area on the [[Black Sea shelf]], near the coast of the [[Krasnodar Krai]].<ref name="offshorepartnerships">{{cite journal |last1=Overland |first1=Indra |last2=Godzimirski |first2=Jakub |last3=Lunden |first3=Lars| last4=Fjaertoft |first4=Daniel |date=2013 |title=Rosneft's offshore partnerships: The re-opening of the Russian petroleum frontier?|url= https://www.researchgate.net/publication/259431566|journal=Polar Record|volume=49|issue=249|pages=140–153|doi=10.1017/S0032247412000137 |doi-access=free|bibcode=2013PoRec..49..140O |hdl=11250/2442558 |hdl-access=free }}</ref> The value of the deal is unknown, but ExxonMobil is expected to invest $1&nbsp;billion in the project.<ref name="offshorepartnerships" /> The venture will be shared 50&ndash;50 between the companies during prospecting phase, and two-thirds to one-third in Rosneft's favour during the extraction phase. The Tuapse Trough is estimated to contain 7.2&nbsp;billion [[barrels of oil equivalent]]. The first well could be drilled in 2012.<ref name="mt_tuapse">{{cite news|url=http://www.themoscowtimes.com/business/article/exxon-rosneft-sink-1bln-in-black-sea/429894.html|title=Exxon, Rosneft Sink $1Bln in Black Sea|last1=Oliphant|first1=Roland|work=[[The Moscow Times]] |date=28 January 2011|archive-url=https://web.archive.org/web/20140320023645/http://www.themoscowtimes.com/business/article/exxon-rosneft-sink-1bln-in-black-sea/429894.html|archive-date=20 March 2014}}</ref> The deal also contains options for additional cooperation, such as extended exploration and production, deliveries to Rosneft's oil refinery in [[Tuapse]], development of transport infrastructure and research on offshore oil production technologies.<ref name="rosneft_tuapse">{{cite web|url=http://www.rosneft.com/news/pressrelease/27012011.html|title=Rosneft and ExxonMobil to Develop Black Sea Resources|publisher=Rosneft|date=27 January 2011 |archive-url=https://web.archive.org/web/20120528083544/http://rosneft.com/news/pressrelease/27012011.html|archive-date=28 May 2012}}</ref> According to analysts, offshore areas are central to Rosneft's expansionist plans, and the company is looking for foreign cooperation to bring in new technology and share risks.<ref name="mt_tuapse"/>

In April 2017, the [[First cabinet of Donald Trump|Trump administration]] denied ExxonMobil permission to continue a deal with Rosneft to drill for oil in Russia.<ref>{{cite news |url=https://www.reuters.com/article/us-exxon-mobil-sanctions-russia-usa-idUSKBN17N2B5 |title=U.S. will not give Exxon permission to drill in Russia |work=Reuters |date=21 April 2017}}</ref>

====TNK-BP acquisition====
On 22 October 2012, it was announced that Rosneft will take over TNK-BP International, a parent company of TNK-BP Holding, which is the third largest oil company in Russia.<ref>{{cite news |url=https://www.theguardian.com/business/nils-pratley-on-finance/2012/oct/22/stake-rosneft-gamble-bp |title=Taking a stake in Rosneft is a big gamble for BP |work=[[The Guardian]] |date=22 October 2012 |archiveurl=https://web.archive.org/web/20130517011325/http://www.guardian.co.uk/business/nils-pratley-on-finance/2012/oct/22/stake-rosneft-gamble-bp |archivedate=17 May 2013}}</ref> BP will receive in exchange of its stake $12.3&nbsp;billion of cash and 18.5% of Rosneft's share, while ARR received $28&nbsp;billion in cash.<ref name=reuters221012>{{cite news|url=http://uk.reuters.com/article/bp-rosneft-idUSL5E8LM23U20121022 |title=Rosneft beefs up with TNK-BP purchase |work=Reuters |first1=Darya |last1=Korsunskaya |first2=Andrew |last2=Callus |date=22 October 2012|access-date=22 October 2012|archive-url=https://web.archive.org/web/20140222204549/http://uk.reuters.com/article/2012/10/22/bp-rosneft-idUSL5E8LM23U20121022 |archive-date=22 February 2014}}</ref> According to Rosneft's CEO [[Igor Sechin]], no discussion was held on a buyout of minority shareholders in TNK-BP Holding.<ref name=upstream231012>{{cite news|url=http://www.upstreamonline.com/live/article1268244.ece|title=Sechin points to multi-billion TNK-BP synergies|newspaper=[[Upstream (newspaper)|Upstream Online]]|publisher=[[NHST Media Group]]|first1=Bill |last1=Lehane |date=23 October 2012|access-date=24 October 2012|archive-url=https://web.archive.org/web/20140301050832/http://www.upstreamonline.com/live/article1268244.ece |archive-date=1 March 2014}}</ref> The deal was completed on 20 March 2013.<ref name=reuters220313>{{cite news |url=http://uk.reuters.com/article/uk-rosneft-tnkbp-deal-idUKBRE92K0IX20130322 |title=Rosneft pays out in historic TNK-BP deal completion |work=[[Reuters]] |first1=Vladimir |last1=Soldatkin |first2=Andrew |last2=Callus |date=22 March 2013 |access-date=25 March 2013 |archive-url=https://web.archive.org/web/20140214072516/http://uk.reuters.com/article/2013/03/22/uk-rosneft-tnkbp-deal-idUKBRE92K0IX20130322 |archive-date=14 February 2014}}</ref>

===2020s===
On 27 February 2022, [[BP]] announced that it would divest its 19.75% stake in Rosneft in response to the [[2022 Russian invasion of Ukraine|Russian invasion of Ukraine]] that took place in February 2022.<ref>{{cite news|title=BP to offload stake in Rosneft amid Ukraine conflict|url=https://www.bbc.com/news/business-60548382|work=BBC News|date=27 February 2022|access-date=27 February 2022|language=en-UK}}</ref>

In 2022, [[Trafigura]] wound down its relationship with Rosneft, Rosneft asked [[2Rivers]] to take Trafigura's place.<ref>{{Cite web |date=2024-02-19 |title=The Secret Oil-Trading Ring That Funds Russia's War |url=https://www.wsj.com/business/energy-oil/russia-oil-trading-secret-network-sanctions-fc3981b7 |access-date=2024-10-15}}</ref>

The week beginning 19 April 2022, Rosneft attempted to sell millions of barrels of Urals, one of three main export-grade crude oils sold by Russia. The offer failed to attract any customers.<ref>{{cite news|last1=Cheong|first1=Serene|last2=Cho|first2=Sharon|last3=Chakraborty|first3=Debjit|title=Asian Buyers Trying to Back Out of Purchases of Russian Oil Grade|work=Bloomberg Business News|date=25 April 2022|accessdate=26 April 2022|url=https://www.bloomberg.com/news/articles/2022-04-25/major-russian-oil-grade-may-get-dumped-due-to-tanker-sanctions}}</ref>

Following the [[2022 Russian invasion of Ukraine]] more than half of Rosneft's 11-member board had quit, forcing the company into a major reshuffle at its annual general meeting on 30 June 2022. Taieb Belmahdi, a former executive at Qatar's state-owned QE, has been elected chairman of the board to replace ex-German chancellor [[Gerhard Schröder]] who stepped down in May.<ref>{{cite web |title=Rosneft replaces departed western board members |url=https://www.argusmedia.com/en/news/2346806-rosneft-replaces-departed-western-board-members |access-date=11 January 2023 |work=Argus media |date=1 July 2022}}</ref>

In November 2023 a Rosneft subsidiary ''Sakhalinmorneftegaz-Shelf'' was given the job of managing [[Sakhalin-I]] with an 11.5% interest in the project.<ref>{{cite web |title=Russia allows SODECO and ONGC to participate in Sakhalin-1 project |url=https://www.worldexpro.com/news/newsrussia-allows-sodeco-and-ongc-to-participate-in-sakhalin-1-project-10354382 |date=15 November 2023}}</ref>

In January 2024, [[Attacks in Russia during the Russian invasion of Ukraine|Ukrainian retaliatory drone strikes]] hit at least four oil and gas terminals across Russia, including Rosneft's [[Tuapse oil terminal]] on the Black Sea coast.<ref>{{cite news |title=Ukraine levels up the fight with drone strikes deep into Russia |url=https://www.theguardian.com/world/2024/jan/27/ukraine-levels-up-the-fight-with-drone-strikes-deep-into-russia |work=The Guardian |date=27 January 2024}}</ref>

On 13 March 2024, Ukrainian drones set fire to Rosneft's oil refinery in [[Ryazan]], the seventh largest in Russia, causing injuries according to the regional governor. The refinery is responsible for 8% of Russian aviation fuel, 6.4% of gasoline, 4.1% of diesel and 7.7% of fuel oil. Another drone was shot down over the Kirishi refinery, Russia's second largest, without causing damage or injuries.<ref>{{Cite web |title= Russian refineries attacked by Ukraine, Rosneft refinery damaged|url=https://www.reuters.com/world/europe/ukraine-launches-drone-attacks-russia-second-night-row-officials-say-2024-03-13/ |access-date=2024-03-12 |date=13 March 2024 |website=Reuters |author=Guy Faulconbridge| author2=Lidia Kelly |language=en}}</ref>