In H1 2010, Rosneft's revenues increased by 57% year-on-year, to USD 30.2B. The increase was due to the growth of crude oil production by 8.6%, higher crude oil and petroleum product prices and increase in volumes of more efficient sales through own marketing network. In Q2 2010, the Company's revenues amounted to USD 15.4B, which is an increase of 5% quarter-on-quarter.

Moscow. Rosneft's EBITDA amounted to USD 9.2B in H1 2010, which is 56% higher than in H1 2009. The increase was tempered by a series of factors beyond control: real strengthening of the ruble against the USD, higher tax payments and growth of transportation tariffs, substantially exceeding inflation rates. In Q2 2010, EBITDA increased by 7%, to USD 4.7B, which is a record high since 2008.

Paris. Schlumberger and Smith jointly announced that the European Commission has cleared the proposed merger under the EC Merger Regulation without any conditions. The closing of the proposed merger remains subject to clearance by the U.S. Department of Justice, approval by Smith stockholders, and the satisfaction or waiver of other closing conditions contained in the merger agreement between the companies.

Moscow. Russia's federal service for the use of natural resources recommended an early withdrawal of a license from Terneftegaz, a joint venture between France's Total and Russia's independent gas producer Novatek, which manages the Termokarstovoye oil and gas deposit, the service said on Monday. 

London. BP today announced that, by mutual agreement with the BP board, Tony Hayward is to step down as group chief executive with effect from October 1, 2010. He will be succeeded as of that date by fellow executive director Robert Dudley.

Kiev. Hawkley Oil and Gas Ltd advised on July 23 that well 201 in the Dnieper Donets basin in Ukraine is making significant progress and is now just 465m short of target B18b horizon.

Hawkley has completed a review of its options for connection to one of several local gas plants.

Moscow. British oil giant BP may sell some or all of its 50 percent stake in the Russian-British joint venture TNK-BP to raise funds after April's oil spill in the Gulf of Mexico, The Times said on Monday. Russia's Gazprom or Rosneft are the most likely buyers if the company decides to sell, the paper said.

 Moscow. Despite being blessed with sizable oil and deposits, the Russian Energy Ministry is reportedly seeking a record $2 billion investment for the development of their Trebs and Titov oil fields leading to speculation that the sites could be Russia's last notable resources.

London. BP PLC said it has entered into several agreements to sell Apache Corp. some of its upstream onshore assets valued at $7 billion. Among the assets are BP's Permian basin assets in Texas and New Mexico; its western Canadian upstream gas assets; and the Western Desert business concessions and East Badr El-din exploration concession in Egypt.