Sistema: Russian Court Seizes Shares due to "Significant Violations" of the Law
A Russian court has seized shares in oil company Bashneft that are owned by Sistema, a conglomerate controlled by wealthy businessman Vladimir Yevtushenkov, over alleged violations in the oil firm’s sale reported Reuters. The court granted a request by the Russian prosecutor general’s office, which said on Friday it had …
Sistema: Russian Court Seizes Shares due to “Significant Violations” of the Law
A Russian court has seized shares in oil company Bashneft that are owned by Sistema, a conglomerate controlled by wealthy businessman Vladimir Yevtushenkov, over alleged violations in the oil firm’s sale reported Reuters. The court granted a request by the Russian prosecutor general’s office, which said on Friday it had …
Sistema: Fails to Complete United Petrochemical Company Acquisition
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces that the acquisition of a 98% stake in OJSC United Petrochemical Company (“UPC”) from the Group’s subsidiary JSOC Bashneft has not been completed. Bashneft retains ownership of UPC.
Petrogrand: To Frac Zapadno-Ambarskaya to See if Commercial Flows are Possible
Following the results of the Petrogrand‘s well Zapadno-Ambarskaya N 6, drilled in 2012, the Board of Directors has decided to undertake hydro-fracking on the Well No. 6, on the Nizhnepaninsky license area. After an extensive review of the drilling results, the seismic data and with the application of modern modelling …
Bashneft: Board Submits Deals to EGM for Approvals
At its latest meeting held on September 23, 2014, JSOC Bashneft’s Board of Directors decided to submit a number of related-party transactions to the Extraordinary General Meeting of Shareholders of the Company for review on October 15, 2014 Thus, it was suggested that the Meeting of Shareholders should approve a …
Bashneft: Oleg Mikhaylov Steps down
JSOC Bashneft’s Board of Directors has accepted the resignation of Oleg Mikhaylov, Vice President for Oil and Gas Production, from the Management Board, as Mr. Mikhaylov has decided to leave the Company for family reasons. «We greatly regret that Oleg Mikhaylov is leaving the Company. He has made a significant …
Bashneft: Wins Leonovskiy Subsoil Area at Bashkortostan Auction
At an auction for the right to conduct geological exploration, prospecting and production of hydrocarbons held on September 23 by the Department of Subsoil Use of the Volga Federal District (Privolzhsknedra), Bashneft won the rights to the Leonovskiy subsoil area. Bashneft will make a one-time payment of 28.3 million roubles …
Eurasia Drilling Company: Uses Cash to Extend Share Repurchase Program
Eurasia Drilling Company Limited, the leading onshore & offshore drilling service provider in the CIS, announced today that on September 23, 2014 the Board of Directors of EDC approved the extension of its Share Repurchase Program for an additional six month period starting October 2, 2014, once the current Share …
Sakhalin Oil and Gas 2014: Kirill Molodtsov – Kara Sea Drilling Continuing Till the 10th of October
Russia’s Rosneft and U.S. ExxonMobil are continuing to drill in the Kara Sea and plan to stop work by Oct. 10, Russian Deputy Energy Minister Kirill Molodtsov said on Tuesday. “They are drilling and will be drilling until Oct. 10. They did have to stop on Sept. 26 but they …
Zoltav Resources: Alastair Ferguson Appointed as Executive Director
Zoltav, the CIS-focused oil and gas exploration and production company, is pleased to announce that Alastair Ferguson, a non-executive director of the Company since 19 May 2014, has become an executive director. Mr Ferguson has an extensive background in the oil and gas industry having held both technical and senior …