C.A.T oil AG: Management Board Steps Down
Anna Brinkmann, member of the management board and Chief Operating Officer of C.A.T. oil AG, has, in agreement with the supervisory board, resigned from the Company’s management board with immediate effect. She has decided to take this step in order to be able to exercise her rights as significant shareholder …
BP and SOCAR Sign Absheron PSA
BP and SOCAR (the State Oil Company of the Republic of Azerbaijan) today signed a new production sharing agreement (PSA) to jointly explore for and develop potential prospects in the shallow water area around the Absheron Peninsula in the Azerbaijan sector of the Caspian Sea. This new agreement is part …
Rosneft & Morgan Stanley Terminate Global Oil Merchanting Purchase Due to Regulatory Blocks
Rosneft and Morgan Stanley had to terminate the contract to sell Morgan Stanley’s Global Oil Merchanting business to Rosneft Oil Company dated 20 December 2013 due to an objective impossibility to complete the deal that has arisen as a result of regulatory clearances being refused. Having invested substantial efforts in …
Rosneft & Morgan Stanley Terminate Global Oil Merchanting Purchase Due to Regulatory Blocks
Rosneft and Morgan Stanley had to terminate the contract to sell Morgan Stanley’s Global Oil Merchanting business to Rosneft Oil Company dated 20 December 2013 due to an objective impossibility to complete the deal that has arisen as a result of regulatory clearances being refused. Having invested substantial efforts in …
ENI: CEO, Claudio Descalzi, Meets With The Prime Minister of Kazakhstan, Karim Massimov
The Prime Minister of Kazakhstan, Karim Massimov, and the Minister of Energy, Vladimir Shkolnik, met Eni’s CEO Claudio Descalzi today in Astana. In the meeting, Claudio Descalzi illustrated the positive progress of Eni’s activities in Kazakhstan, with a particular focus on the projects for the Kashagan and Karachaganak fields, and Eni’s …
Rosneft: Repays $7bn Of TNK-BP Finance Loan
Rosneft announces it repaid part of a loan obtained to finance the acquisition of TNK-BP. On December, 22 The Company paid to lenders around USD 7 bln. In such a manner, the overall amount paid throughout the year totaled USD 24 bln, in full accordance with the credit agreement. Rosneft …
C.A.T oil AG: Board Accepts Joma Industrial Bid but is Still Wary of Their Intentions
The Management Board and Supervisory Board of C.A.T. oil AG today published their Joint Reasoned Statement pursuant to Article 27 WpÜG on the takeover offer made by Joma Industrial Source Corp. (“Joma”) on December 11, 2014. In this statement, Management Board and Supervisory Board indicate that the offer price of …
Condor Petroleum: Appraisal Well at Kiyaktysai Hits 71m of Pay
Condor Petroleum Inc. is pleased to provide an update on operational activities on the Zharkamys West 1 Territory in Kazakhstan (“Zharkamys”). Appraisal Well at Kiyaktysai encounters multiple reservoirs: The KN-E-205 Primary Basin appraisal well was drilled to a total depth of 1876 meters and encountered three sandstone reservoirs from 1208-1410 meters, …
Shelton Petroleum AB: Agreement to dissolve the cross-ownership with Petrogrand
Shelton Petroleum and Petrogrand have entered into an agreement to dissolve the cross-ownership between the companies through a share swap. The exchange ratio is 0.40 shares in Shelton Petroleum for each share in Petrogrand. The agreement is subject to shareholder resolution at general meetings in both companies. Dissolving the cross-ownership …
Rosneft Board of Directors Approves 2015-2016 Business Plan
On December 18, Rosneft’s Board of Directors reviewed preliminary results of the Company’s performance in 2014 and approved the 2015-2016 plan. According to preliminary data, in 2014 the Company’s growth in reserves exceeded planned rates and is expected to reach over 450 million TOE. In particular, drilling of the world’s …