Rosneft Oil Company expects to complete the acquisition of TNK-BP before April 1, the Kommersant reported.
"It is the wish of Rosneft President Igor Sechin," one of the paper's sources pointed out adding that the reason for speeding up the deal process was the need to pay interest arising from the transaction to the sellers, BP and AAR.
Earlier, the Rosneft management fixed June 1 as the deadline for the two companies' merger.
According to Rosneft's additional comment, the company has set up the integration management framework: a management committee, a coordinating group, a secretariat and 21 working groups to be directly responsible for the successful integration of different business and functional processes.
OJSC Rosneft (tax number: 7706107510) is the largest oil company and largest tax payer in the Russian Federation. Rosneft's proved SEC compliant reserves as of December 31, 2011 were 17.618 billion barrels of oil equivalent. In 2011, Rosneft ramped up production of hydrocarbons to 2.586 barrels per day.
The company's authorized capital is RUB 105.981 million. This amount is represented by 10,598,177,810 common shares at par value of RUB 0.01. The company's largest shareholder is the state-owned company Rosneftegaz securing 75.16% of its authorized capital.
Net profit (IFRS) of Rosneft Oil Company for 2012 increased by 7.2% to RUB 342 billion from RUB 319 billion. Revenue increased by 13.2% to RUB 3.078 trillion from RUB 2.718 trillion for 2011. EBITDA decreased by 8% to RUB 609 billion from RUB 662 billion. Capex amounted to RUB 466 billion, FCF was RUB 45 billion.
According to the information and retrieval system DataCapital, net profit (RAS) of Rosneft for 2012 increased by 27.8% to RUB 302.501 billion. Revenue grew by 28.2% to RUB 2.596 trillion from RUB 2.025 trillion, pre-tax profit by 21% to RUB 345.561 billion from RUB 285.07 billion.
"AK&M", 04.03.2013
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