ExxonMobil: Reserve Replacement Under 100% for the First Time in 22 Years – Due to Falling Oil Price
ExxonMobil Corp. failed to replace all of the oil and natural gas it pumped last year with new discoveries and acquisitions for the first time in more than two decades. Exxon’s so-called reserve-replacement ratio fell to 67% in 2015, the Irving, Texas-based company said in a statement on Friday. Prior …
GlobalData: Russia and Kazakhstan Will Dominate Planned Upstream Projects in the Former Soviet Union to 2025
Russia is responsible for 25 key crude and natural gas projects expected to commence operations by 2025, dominating the Former Soviet Union’s (FSU) oil and gas production, says research and consulting firm GlobalData. According to the company’s latest report*, the two other key planned projects in the FSU region are …
Petrogrand: Appoint Pavel Tetyakov as the new Managing Director
On 26 February 2016 the Board of Directors in Petrogrand AB appointed Mr. Pavel Tetyakov as the new managing director of Petrogrand AB (publ). Pavel Tetyakov has been the managing director of all Petrogrand’s Russian subsidiaries since April 2015 and was involved in the management of the Komi oil fields …
Lukoil: Development Drilling at Vostochno-Lambeyshorskoye Increases Recoverable Reserves by 6 Fold
PJSC LUKOIL has increased recoverable reserves of the Vostochno-Lambeyshorskoye field in the Republic of Komi by more than 6 times to 42.218 million tons. The field was discovered at the end of 2011 and back then its initial recoverable reserves (C1+C2) were estimated at 6.948 million tons of oil. Seven …
Exillon Energy: Reserve and Production Update
Exillon Energy plc , a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), issues today an update on reserves and production. Based upon the data of the State Register of Mineral Reserves, the Ministry of Natural Resources and …
Roxi Petroleum: BNG Well A6 – Has Reached 3,700 Without Incident – TD of 5,000m
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with news from our flagship BNG Asset, Deep Well A6. Deep Well A6 As previously announced Deep Well A6 was spudded in early November 2015 and is to be drilled to …
Gazprom, DEPA and Edison sign Memorandum of Understanding
Alexey Miller, Chairman of the Gazprom Management Committee, Marc Benayoun, CEO of Edison SpA, and Theodoros Kitsakos, CEO of DEPA SA, signed today the Memorandum of Understanding on natural gas deliveries across the Black Sea from Russia via third countries to Greece and from Greece to Italy in order to establish a southern route to deliver Russian natural gas to Europe. The …
Novatek: 2015 Results – Revenues Up 32.9%
OAO NOVATEK today released its audited consolidated financial statements for the year ended 31 December 2015 prepared in accordance with the International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles) FY 2015 FY 2014 Oil and gas sales 472,007 355,673 Other revenues 3,318 1,970 Total revenues …
KMG EP: 2015 Results – Profit Up Nearly 4 Fold – On Exchange Rates and Write Offs
JSC KazMunaiGas Exploration Production announces its consolidated financial statements for the year ended 31 December 2015. Net profit in 2015 was 244bn Tenge (US$1,096m[1]) compared with 47bn Tenge (US$263m) in 2014. The increase in net profit in 2015 was largely due to devaluation of the Tenge in the year, write-down …
Lukoil: Begins Exploration Activities at Vostochno-Taimyrsky Ahead of Time
PJSC LUKOIL has begun the first stage of exploration activities at the Vostochno-Taimyrsky license block in the Krasnoyarsk region ahead of time. This stage of exploration includes 2D seismic acquisition of 2,421 line kilometers and drilling of an exploration well. Seismic equipment and crews are being mobilized to the site. …