GlobalData: Record Russian Budget Revenues Forecast from Oil&Gas
Russia is set to reap record ruble revenues from the upstream oil and gas sector over the next six years, according to GlobalData, a leading data and analytics company. As the country’s oil export duties are phased out over the 2019-2024 period by the so-called tax maneuver, Mineral Extraction Tax …
NOVATEK and JOGMEC Sign MOU on LNG Cooperation
Today, taking the opportunity of the meeting between the President of Russian Federation Vladimir Putin and the Prime Minister of Japan Shinzo Abe, Chairman of the Management Board of PAO NOVATEK (“NOVATEK”) Leonid Mikhelson and Chairman and CEO of Japan Oil, Gas and Metals National Corporation (JOGMEC) Tetsuhiro Hosono, signed …
LUKOIL: Expands Yarega Steam Generation EOR Plant
LUKOIL has commissioned a steam generation farm at Yarega field of highly viscous oil in the Republic of Komi. The facility is to build up production as part of Yarega area Phase 2 development. The farm, including five boilers with the total capacity of 125 metric tonnes of steam an …
Gazprom: Begins Bovanenkovskoye Field Start-up Operations for Third Gas Production Plant
The Gazprom Management Committee took note of the information about the progress of major investment projects. The Company continues to implement the extensive Eastern Gas Program and to build facilities associated with supplying gas to domestic consumers and to China. In particular, 119 producing gas wells were drilled at the …
Russneft: 2018 H1 Results – Revenue Up 53%
RussNeft showed significant growth of financial indicators in 1H 2018 at flat production. The revenue grew by 53% and amounted to 88.4 bn Rub. EBITDA was 24.8 bn Rub., by 103% higher against the same period last year. The growth of financial indicators was fueled by the increase in oil …
Gazpromneft-Vostok: Mubadala Petroleum and the Russian Direct Investment Fund Purchase 49%
Gazprom Neft, Mubadala Petroleum and the Russian Direct Investment Fund (RDIF, the sovereign wealth fund of the Russian Federation) have announced the completion of a transaction establishing a joint venture to develop oil fields in the Tomsk and Omsk Regions of Western Siberia. Further to an agreement announced on 24 …
Eni: Standard & Poor’s Raises Long Term Credit Rating to A-
Rating agency Standard & Poor’s has raised Eni’s long-term credit rating to ‘A-’ with Stable outlook. Standard & Poor’s also confirmed Eni’s ‘A-2’ short-term credit rating. S&P‘s decision is based on the improvement in Eni’s current and forecasted credit metrics, thanks to the company’s debt reduction and cash flow generation. …
LUKOIL: H1 Results 2018: Sales Up 32.1%
PJSC LUKOIL today released its condensed interim consolidated financial statements for the three and six month periods ended 30 June 2018 prepared in accordance with International Financial Reporting Standards (IFRS). Financial highlights 2Q 2018 1Q 2018 1H 2018 1H 2017 (RUB bln) 2,056.1 1,630.7 Sales 3,686.8 2,790.8 295.2 219.5 EBITDA 514.7 386.7 288.8 …
Gazprom: H1 Results 2018 – Sales Up 24%
Today PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the six months ended June 30, 2018. The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the six months …
Gazprom: Russian Continental Shelf adds 768 billion cubic meters of Gas Reserves in 2018
The Gazprom Board of Directors took note of the information on the Company’s mineral and raw material base. It was highlighted that Gazprom had the largest amount of explored natural gas reserves in the world, totaling 35.4 trillion cubic meters (А+В1+С1 categories) as of December 31, 2017. Due to the adoption of a new Russian Classification of Reserves and Forecast Resources of Oil and Flammable …