Rosneft Trading: Delivers First LNG Shipment to the Egyptian Natural Gas Holding Company
Rosneft Trading SA, a company of Rosneft Group, delivered its first LNG shipment as part of its contract with Egyptian Natural Gas Holding Company. The delivery of the cargo was made by the GOLAR ICE tanker to the Ain Sukhna port within the Master LNG Supply and Purchase Agreement signed …
Petrosibir: Appoint Nikolay Millionshchikov as Acting CEO
The Board of Petrosibir has appointed Nikolay Millionshchikov acting CEO of Petrosibir. Petrosibir has previously announced that Dmitry Zubatyuk has decided to resign as CEO. The Board has appointed Nikolay Millionshchikov acting CEO of Petrosibir. Nikolay Millionshchikov assumes the position on 9 May 2016. The Board will leave it to …
SPD Will Carry Out Geological Exploration of Yuzhno-Yamskoy Area
Salym Petroleum Development (SPD) obtained the license for geological exploration on Yuzhno-Yamskoy area in Khanty-Mansi Autonomous Okrug – Yugra. Term of the license is 5 years with an opportunity for extension of the geological survey phase. In case a deposit is discovered, SPD will be guaranteed to obtain the exploration …
Statoil: Swaps Edvard Grieg Field for Further 15% of Ludin Petroleum
Statoil ASA has entered into an agreement with Lundin Petroleum AB (Lundin Petroleum) to divest its entire 15 percent interest in the Edvard Grieg field for an increased shareholding in Lundin Petroleum. The transaction also includes divestment of a 9 percent interest in the Edvard Grieg Oil pipeline and a …
Gazprom: Discusses Nord Stream 2 and Sakhalin II Trains with Shell
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, Chief Executive Officer of Shell, took place in St. Petersburg today. The parties addressed the prospects for collaboration between the companies under the Agreement of Strategic Cooperation. An emphasis was placed on a potential …
Halliburton and Baker Hughes: Terminate Merger Agreement – BH to Receive $3.5bn
Halliburton Company and Baker Hughes Incorporated today announced that the companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016. “While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals …
Baker Hughes: The Path Forwards – Buy Back $1.5bn in Shares and $1bn in Debt
Following the termination of its merger agreement, Baker Hughes Incorporated today outlined a series of actions to reduce costs and simplify its business, enhance its commercial strategy, and optimize its capital structure. – To reduce costs by simplifying its organization and rationalizing its operational footprint – Commercial strategy focused on …
Gazprom: 2015 Results – Sales Up 15%
Today PJSC Gazprom issued its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards for the year ended December 31, 2015. The table below presents the consolidated statement of comprehensive income prepared in accordance with IFRS for the years ended December 31, 2015 and December 31, 2014. …
Tethys Petroelum: Enters into Binding C$9,787,003 Private Placement with Olisol
Tethys Petroleum Limited announces that is has entered into a binding investment agreement (the “Investment Agreement”) with Olisol Investments Limited (“Olisol”) setting out the terms and conditions upon which Olisol Petroleum Limited, a wholly-owned subsidiary of Olisol (“OPL”), has agreed to purchase 181,240,793 new ordinary shares in Tethys (“Shares”) at …
ConocoPhillips: Q1 Results – Net Loss of $1.5 billion
ConocoPhillips today reported a first-quarter 2016 net loss of $1.5 billion, or ($1.18) per share, compared with first-quarter 2015 earnings of $272 million, or $0.22 per share. Excluding special items, first-quarter 2016 adjusted earnings were a net loss of $1.2 billion, or ($0.95) per share, compared with a first-quarter 2015 …