Key Developments: Gazprom neft' OAO (SIBN.MM)

SIBN.MM on Moscow Interbank Currency Exchange

28 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Gazprom neft' OAO challenges EU sanctions in court-Reuters
Tuesday, 28 Oct 2014 10:18am EDT 

Gazprom neft' OAO:Gazprom Neft said it has challenged in a European Union court the bloc's sanctions against it, imposed as part of wider restrictions on Russia over Ukraine-Reuters.Gazprom Neft has been targeted by EU as well as U.S. sanctions over the crisis in east Ukraine where the West says Moscow is supplying arms and troops to pro-Russian separatists fighting to split from Kiev."Gazprom Neft confirms information that it has challenged the EU sanctions in the Court of Justice of the European Union," a representative of the company said without giving more detail.EU sanctions restrict the ability of Gazprom Neft, Russia's fourth biggest oil producer by output, to raise capital on European markets.  Full Article

Fitch affirms Gazprom neft' OAO rating at BBB
Tuesday, 28 Oct 2014 07:43am EDT 

Gazprom neft' OAO:Fitch Ratings has affirmed Gazprom Neft's (GPN) long-term foreign and local currency Issuer Default Ratings (IDRs) at BBB with negative outlook.The affirmation applies to all debt issued by GPN and its subsidiary GPN Capital SA prior to Sep. 1.GPN's BBB rating reflects its upstream and downstream operations, moderately diversified reserve base across Russia, solid operational metrics and conservative, though moderately rising, leverage.  Full Article

Moody's affirms Gazprom OAO, Gazprom neft' OAO ratings
Tuesday, 21 Oct 2014 09:10am EDT 

Gazprom OAO:Moody's Investors Service, (Moody's) has affirmed the Baa1 ratings of the government-related issuer (GRI) Gazprom and the Baa2 ratings of its subsidiary Gazprom neft' OAO (Gazprom Neft) and the respective ratings of their guaranteed debt-issuing subsidiaries.The outlook on all ratings is negative.Gazprom's Prime-2 short-term rating remains unchanged.These actions follow the weakening of Russia's credit profile, as reflected by Moody's downgrade of Russia's government bond rating to Baa2 from Baa1 on Oct. 17.The affirmation of Gazprom's issuer rating reflects Moody's view that the strength of the company's business, operating and financial profile, as well as its importance for the government, position its rating one notch above the sovereign rating at Baa1.The affirmation of Gazprom Neft's (98 percent owned by Gazprom) Baa2 rating reflects the company's close operating and financial linkage with its parent's ratings.The negative outlook on all ratings reflects Moody's view that both companies' ratings are sensitive to changes in the sovereign creditworthiness, notwithstanding the current differential between Gazprom's and the government's ratings.  Full Article

Gazprom neft' OAO approves purchase of Kuvaisky block in Orenburg region-Interfax
Sunday, 12 Oct 2014 11:07pm EDT 

Gazprom neft' OAO:The board of directors of Gazprom Neft has approved the purchase of a 99.9 percent stake in LLC Yugra-Intek by CJSC Gazprom Neft Orenburg (GNO), the Russian oil company said-Interfax.Yugra-Intek holds the license to the Kuvaisky block in Orenburg Region, which has D1 category oil resources of 2 million tonnes.Deep drilling has not been conducted at the 140-square-km block and structures have not been prepared for drilling.Oil, gas and condensate pipelines are located within 12-15 km of the block's boundaries.Yugra-Intek bought the block at auction in 2008, paying 14.95 million rubles; the starting price was 11.5 million rubles.The sole owner of LLC Yugorskaya Innovatsionnaya Toplivno-Energeticheskaya Kompaniya is Dmitry Veliky, the SPARK-Interfax database shows.  Full Article

Gazprom neft' OAO to take out three lines of credit at Sberbank OAO with overall limit of 35 bln Russian rubles-Interfax
Tuesday, 7 Oct 2014 08:14am EDT 

Gazprom neft' OAO:He board of directors of Gazprom Neft has okayed the company to take out three five-year lines of credit at Sberbank OAO with an overall limit of 35 billion Russian rubles, the company said in a statement-Interfax.Two of the credit lines have limits of 12.5 billion Russian rubles and the third has a limit of 10 billion Russian rubles.The proceeds will be used for general corporate financing, lending to subsidiaries and customs payments.  Full Article

Gazprom neft' OAO creates bitumen subsidiary-Interfax
Wednesday, 1 Oct 2014 07:20am EDT 

Gazprom neft' OAO:Creates a special subsidiary, LLC Gazpromneft Bitumen Materials, to manage the company's bitumen business-Interfax.The main task of the new company is to carry out Gazprom Neft's strategy for its bitumen business.Gazprom Neft's updated strategy states that the company will increase bitumen material sales to 2.4 million tons by 2025, which is 30pct more than in 2013.To achieve such figures, the company intends to increase its presence on the markets of Russia, Central Asia and Southern Europe.  Full Article

Gazprom neft' OAO raises 30 billion Russian ruble loan from Russian Agricultural Bank-Interfax
Tuesday, 30 Sep 2014 08:48am EDT 

Gazprom neft' OAO:Agrees on opening a non-revolving unsecured line of credit for 30 billion Russian rubles with Russian Agricultural Bank-Interfax.The loan, which matures in five years, will be available for the period of two years.The money will go towards general corporate purposes, including the oil company's 2015 investment program.  Full Article

EU applies sanctions to NK Rosneft' OAO, AK Transneft' OAO, Gazprom neft' OAO-Interfax
Friday, 12 Sep 2014 12:37am EDT 

NK Rosneft' OAO:Russian oil companies Rosneft, AK Transneft' OAO and Gazprom neft' OAO have been included on a list of new restrictive measures of the European Union regarding Russia, the EU Official Journal reported-Interfax.The EU has also introduced restrictions on cooperation with Russia in developing scavenger oil deposits.  Full Article

Gazprom neft' OAO, Weatherford sign strategic cooperation agreement
Tuesday, 9 Sep 2014 08:00pm EDT 

Gazprom neft' OAO:Signs strategic cooperation agreement with Weatherford that will enable technology collaboration through frequent knowledge and information sharing.Gazprom Neft and Weatherford will jointly explore opportunities to determine the right technology solutions for the development and production of the oil fields.This will take into consideration the specific features and nature of the projects to ensure efficiency and effectiveness.In addition, Weatherford will hold specialized workshops to introduce Gazprom Neft to the technology application principles, including solutions applied in the development of their hydrocarbon resources.  Full Article

Gazprom neft' OAO begins refueling Air India in Russia-Interfax
Wednesday, 3 Sep 2014 06:51am EDT 

Gazprom neft' OAO:Gazpromneft Aero, the operator of Gazprom Neft's aviation fueling business, now supplies fuel for Air India planes flying out of Moscow's Domodedovo Airport, the company reported-Interfax.Air India, a member of the Star Alliance, offers four flights a week between Moscow and New Delhi on Boeing 787 Dreamliner jets.  Full Article

UPDATE 1-Russia's Gazprom Neft partners with Petrovietnam to tap Arctic oil

SOCHI, Russia, Nov 25 - Russia's Gazprom Neft , the oil arm of the world's top gas producer Gazprom , agreed on Tuesday to develop Russia's Dolginskoye offshore Arctic oil field jointly with Vietnamese state energy company Petrovietnam.

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