Rosneft Oil, the largest oil company in Russia, was founded on September 29, 1995. The Russian Federation government established a state-owned open joint-stock enterprise called Rosneft.

 On October 22, 2012, Russian state-owned oil giant Rosneft announced that it had reached an agreement with BP and Russian private consortium AAR to purchase 50% of its stake in TNK-BP, Russia's third-largest oil company, from each of the two major shareholders.

 The total acquisition amount is approximately 55 billion US dollars.

 After the acquisition is completed, the oil and gas production of the Russian oil company will surpass that of ExxonMobil in the United States, becoming the world's largest publicly traded oil company.