Shell: Divests Canadian Oil Sands for $7.25bn
Royal Dutch Shell plc today announces the signing of two agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (“Shell”) — which are detailed in this announcement — that will see Shell sell all of its in-situ and undeveloped oil sands interests in Canada and reduce its …
OMV: Buys 24.99% of the Yuzhno Russkoye Field for $1.85bn
OMV, the international integrated oil and gas company based in Vienna, is entering a major Upstream gas project in Russia. OMV signed an agreement to acquire a 24.99% share in the Yuzhno Russkoye natural gas field located in Western Siberia from Uniper SE. The purchase price amounts to USD 1,850 …
DOJ: Requests More Info On GE Buyout of Baker Hughes
General Electric Company and Baker Hughes Incorporated today announced that the companies have each received a request for additional information (“second request”) from the United States Department of Justice (“DOJ”) in connection with the pending combination of GE’s oil and gas business with Baker Hughes. The second requests were issued …
Urals Energy: 2017 Strategy – Considerable Step Up in Drilling Program
The board of Urals Energy PCL, the independent exploration and production company with operations in Russia, today provides an update on its strategy for the first half of 2017. In addition the Company has today posted its corporate presentation on its website. Update on strategy The Company continues to prepare development …
RN-Vankor: 2016 Production Drilling Up 3%
By the end of 2016 RN-Vankor had increased the volume of production drilling, on the Vankor field cluster, by 3% compared with 2015 – up to 305.2 thousand meters.. This was facilitated by the increase in the volume of drilling in Suzun Tagul and deposits, as well as growth in …
BP: Getting Back To Growth
BP today updates the financial community on details of its strategy and, in particular, medium-term plans for the next five years, based on oil prices similar to where they are today. Following a presentation today in London, BP management teams will this week travel to London, Edinburgh, New York, Dallas, …
Roxi Petroleum: Proposes Eragon Assets Merger
Roxi, the Central Asian oil and gas company, with a focus on Kazakhstan, is pleased to announce that it will shortly be posting to Shareholders a Circular regarding a proposed merger in respect of the Company’s Eragon Assets. The Circular also provides details regarding the proposed Conversion of the outstanding …
Gazprom Neft Reports Net Profit Growth of 82.5 % Y-o-Y for its FY 2016 Financial Results
Gazprom Neft publishes its consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) for Q4 and FY 2016. Highlights: Net Profit of RUB 200 bn for FY 2016, an increase of 82.5% Y-o-Y Adjusted EBITDA for FY 2016 increased 12.7% Y-o-Y, to RUB 456 bn Production for FY 2016 …
Nord Stream 2 to Play Crucial Role in EU’s Energy Security
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Rainer Seele, Chairman of the Executive Board of OMV, took place in St. Petersburg today. The meeting addressed Russian gas supplies to Austria. In 2016, Gazprom exported 6.1 billion cubic meters of gas to Austria, which was 37.9 per cent higher than in 2015. The upward trend in gas demand …
Construction Contract Signed for Second String of TurkStream’s Offshore Section
South Stream Transport B.V. and Allseas Group today signed in Amsterdam a contract to build the second string of the TurkStream gas pipeline’s offshore section. The document was signed as part of the option included in the construction contract for the pipeline’s first string, which had been inked in 2016. In a similar fashion to the construction of TurkStream’s first string, Allseas plans to use Pioneering …