Editing Rosneft (section)

=== 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" />