Ozenmunaigas: Fails to Secure MET Relief for the Uzen and Karamandybas Fields
KazMunaiGas Exploration & Production announces that Ozenmunaigas’ (“OMG”) request to temporarily have Mineral Extraction Tax (MET) relief for 2015, approved for the Uzen and Karamandybas fields in Mangystau Province, has not been approved by the Kazakh Government. In a low oil price environment, the Kazakh Government has the ability to …
Gazprom: 2015 Results – Profit Up 21% – Mainly on Foreign Exchange Rates
Today PJSC Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) for the nine months ended September 30, 2015. The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS …
Nord Stream II: EU Gas Demand Highlights Project Importance
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Rainer Seele, Chairman of the OMV Executive Board. The parties discussed issues of cooperation, particularly addressing the Nord Stream II project. It was noted that the growth in demand for Russian gas …
LUKOIL: Summarizes 2015 Achievements and 2016 Targets
The LUKOIL Board of Directors held a meeting in Moscow today to summarize the Company’s preliminary performance results in 2015 and set priorities for 2016 and the near-term outlook. The 2015 hydrocarbon production growth was attained through the implementation of large-scale projects in the Northern Caspian Sea, West Siberia, the …
Statoil: Acquires Roughly 12% of Ludin Petroleum
Statoil ASA has acquired 37,101, 561 shares in Lundin Petroleum AB (publ.), corresponding to 11.93 percent of the shares and votes, at a total purchase price of approximately SEK 4.6 billion. The investment in Lundin Petroleum will increase Statoil’s indirect exposure to core assets on the Norwegian Continental Shelf (“NCS”). …
EIA: Crude Oil Prices to Remain Low Through 2016 and 2017
The U.S. Energy Information Administration’s, EIA; www.eia.gov new “Today in Energy” brief looks at EIA’s forecast of low oil prices during 2016 and 2017, as global oil inventories are expected to continue increasing this year and through the first half of next year. “Crude oil prices are expected to remain …
Roxi Petroleum: Heavy Drilling Fluid Issues Being Resolved, High Quality Oil Being Produced
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to update the market with progress at its flagship asset BNG as follows: Shallow Wells Well 143 Well 143, which was the first of the shallow wells for 2013, was spudded on 1 April 2013, …
Novatek: 2015 Results – Gas Production Up 9.3%
OAO NOVATEK reported today preliminary operating data for the fourth quarter and full year 2015. In the fourth quarter 2015, NOVATEK’s marketable production totaled 17.80 billion cubic meters (bcm) of natural gas and 2,559 thousand tons of liquids (gas condensate and crude oil). The Company’s full year 2015 marketable production …
Petrosibir: Produces 31340 Barrels in December
Petrosibir’s total oil production in December 2015 amounted to 31,340 barrels, equivalent to 1,688 barrels per day. The table below summarizes the production broken down by region. Petrosibir owns 100% of the Russian company Ingeo Holding, which holds a production license in Bashkiria. Petrosibir owns 49% of the Cypriot company …
Novatek: Yarudeyskoye Reaches Full Capacity
OAO NOVATEK announced today that the Yarudeyskoye oil field has reached its planned production capacity of 9,700 tons of crude oil per day, which is equivalent to approximately 3.5 million tons per annum. Twenty-four production wells are currently in operation at the field with average flow rate exceeding 400 tons …