Brent Oil Pushes Above $50 for the First Time in Nearly Seven Months
Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months, boosted after U.S. government figures showed a sharper-than-expected drawdown in crude stocks last week. Brent LCOc1 had climbed 38 cents to $50.12 a barrel by 0648 GMT, its highest since Nov. 4. …
SOCAR: Signs MOU with BP for Block D230 in the North Absheron Basin
SOCAR and BP signed a memorandum of understanding (MOU) to jointly explore potential prospects in block D230 in the North Absheron Basin in the Azerbaijan sector of the Caspian Sea. On this occasion, the companies made following announcement:As part of the government’s plan to ensure that all of Azerbaijan’s offshore …
LUKOIL: Looks To Mexico and the Amatitlán Block
President of PJSC “LUKOIL” Vagit Alekperov held a meeting with President of Mexico Enrique Peña Nieto, the country’s minister of finance, minister of energy and the CEO of the state oil company PEMEX. The parties discussed the implementation of a joint project, the Amatitlán Block which LUKOIL entered on the …
Urals Energy: Receives Short Term $6m Loan from Petraco Ahead of Anticipated Tanker Shipment
The Board of Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that it has entered into a pre-export short term loan finance arrangement with Petraco Oil Company Limited (“Petraco”) under which Petraco will advance the sum of US$6.0 million to the …
Russian Drilling Roundtable 2016: Video Launched!
The video from the 4th Russian Drilling Roundtable, RDCR.
Zoltav Resources: 2015 Financial Results – Revenues Up 41%, Operating Profit of $1.1m
Zoltav, the Russia and CIS-focused oil and gas exploration and production company, announces final results for the year ended 31 December 2015 – a period in which the Company generated its first operating profit. Financial Highlights · Revenues from production increased by 41% to US$28.1 million (2014: US$20.0 million, from …
4th Russian Drilling Roundtable, Post Show Report
Held on the 13th April 2016 at the Baltschug Kempinski Hotel in Moscow, the 4th RDCR cemented its status as the largest gathering of drilling professionals in Russia. Over 250 delegates attended from Russian and International operators, drilling contractors, service and technology suppliers. RDCR 2016 in Numbers: 257 total participants …
Exillon Energy: Produces Unaudited 15,094 Barrels in April.
Exillon Energy plc, a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora and West Siberia, is pleased to announce unaudited production data for the month of April 2016 (“the Period”). · Our average daily production[1] was 15,094 bbl/day during the period. · Average daily production …
Petrosibir: Q1 Results
Starting 2016 Petrosibir publish so called interim management statements per 31 March and 30 September instead of quarterly interim reports prepared in accordance with IAS 34. Petrosibir will continue to publish half yearly interim reports prepared in accordance with IAS 34.The consolidated financial information in this statement has been prepared …
Rosneft: Signs JV with Keppel Offshore & Marine and MHWirth For Offshore Drilling Rigs
Rosneft, Keppel Offshore & Marine and MHWirth have signed shareholders’ agreement on establishing a Joint Venture (JV) for the creation of Design and Engineering Center for offshore drilling rigs in Russia. The main tasks of the Center established by the JV (Rosneft – 45%, Keppel Offshore & Marine – 45%, …