MOL Group: 2017 Q1 Results – Upstream Contribution Up 50%
Today, MOL Group announced its financial results for Q1 2017. In the first quarter all business segments – Upstream, Downstream, Consumer Services, Gas Midstream – managed to increase their contributions compared with the same period of the previous year. MOL Group delivered CCS EBITDA of USD 614 mn, a …
Rosneft: Q1 2017 Results – Upstream Costs Down 6.7% per Barrel
Y/Y EBITDA growth by 22.0% in RUB terms and 54.1% in USD terms Threefold growth of FCF q/q Decrease in upstream costs per boe by 6.7% q/q Improved efficiency and realized synergies from Bashneft integration Planned capital expenditures growth by 24.7% y/y with sustainable free cash flow Consolidated IFRS financial …
NOVATEK signed Framework Agreement with Technip, Linde and NIPIGas and License Agreement with Linde
PAO NOVATEK (“NOVATEK”) signed a Framework Agreement on Strategic Cooperation (“Agreement”) with Technip, Linde AG and Research and Design Institute for Gas Processing (NIPIGas). The parties agreed upon the main conditions for designing and developing future LNG plants based on gravity-based structures for Arctic LNG 2 as well as subsequent NOVATEK’s …
ConocoPhillips Reports First-Quarter 2017 Results: On Track to Deliver 2017 Operating Plan and Accelerate Value Proposition
ConocoPhillips today reported first-quarter 2017 earnings of $0.8 billion, or $0.62 per share, compared with a first-quarter 2016 loss of $1.5 billion, or ($1.18) per share. Excluding special items, first-quarter 2017 adjusted earnings were a loss of $19 million, or ($0.02) per share, compared with a first-quarter 2016 adjusted loss …
BP Takes Leap Forward in Seismic Imaging Technology
Using new technique, BP finds significant additional resources in the Gulf of Mexico HOUSTON – BP today announced a major breakthrough in seismic imaging that has identified more than 200 million barrels of additional resources at BP’s Atlantis field in the deepwater Gulf of Mexico. As a result of this …
PetroNeft Resources plc: Quarterly Production Update
PetroNeft (AIM: PTR) an oil & gas exploration and production company, operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences 61 and 67, provides an update on oil production at Licence 61 in the first quarter of 2017. Licence 61 Gross Production Q1-2017 Q4-2016 Q3-2016 …
Gazprom: 2016 Results – Net Profit Up 21%
Today PJSC Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2016. The table below presents the consolidated statement of comprehensive income prepared in accordance with IFRS for the years ended December 31, 2016 and December 31, 2015. All amounts are presented …
Zoltav Resources: 2016 Results – Revenues Up 17%, Operating Profit Up 539%
Zoltav, the Russia-focused oil and gas exploration and production company, announces final results for the year ended 31 December 2016 showing a 17% increase in revenues and the Company’s first annual net profit. The Company has adopted RUB as its reporting currency going forward, reflecting its currency of operation. Financial …
KMG EP: 2017 Q1 Results – Revenues Up 76% yoy As Oil Price Rebounds
JSC KazMunaiGas Exploration Production (“KMG EP” or “the Company”) announces its consolidated interim financial results for the first three months ended 31 March 2017. Revenue for the first quarter of 2017 was up 76% year on year and amounted to 214bn Tenge (US$663m[1]). This was largely a result of a …
Prirazlomnaya: Drills First Ever Arctic Shelf Fishbone Well
The first ever multi-lateral “fishbone” well involving multiple horizontal branches has been drilled and commissioned at the Prirazlomnaya offshore rig — the only project on the Russian Arctic shelf at which commercial oil production is currently ongoing. The trajectory chosen for the wells allows significantly greater coverage of oil-bearing sections of the strata. The new well represents …