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Rosneft: Russian Oil Giant

January 28, 2016

Rosneft was founded in 1993 and is headquartered in the Balchug district of Moscow near the Kremlin, across the Moskva River. The integrated oil company is majority owned by the Russian government. After purchasing the assets of former oil giant Yukos at state-run auctions, Rosneft became the leading extraction and refinement company in Russia. In March 2013, Rosneft became the largest publicly traded oil company after buying TNK-BP.

Rosneft is 75.16 percent owned by the Russian government, 19.75 percent of the company is owned by BP, a British multinational oil and gas company headquartered in London, United Kingdom and 5 percent of the shares are in free float.

Rosneft does oil and gas exploration and production activities on Sakhalin Island, Siberia, Timan-Pechora field and in southern Russia, including Chechnya. It owns and operates two refineries. The refinery in Tuapse, on the Black Sea, focuses on refining high-gravity oil from western Siberia. Another plant in Komsomolsk-o-Amur is the easternmost refinery in Russia.

As of 2014 it had around 106,000 employees on revenue of $91.72 billion.

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