On December 21, 2011 Rosneft Board of Directors met to review key financial and operational results for 2011 and business plan for 2012.
Commenting on the results in 2011 Rosneft President, E. Khudaynatov, said that all of Rosneft’s 2011 business performance indicators showed stability and robustness
Moscow, December 8, 2011. Rosneft and PDVSA today signed a tentative memorandum of understanding to set up a joint venture to develop heavy crude oil reserves in Venezuela as part of the Carabobo-2 project. Rosneft will hold a 40% stake in the planned joint venture with the remaining 60% to be owned by PDVSA subsidiary CVP.