Ural Energy: Receives $6m Pre-Export Loan From Petraco, Secured Against Arcticneft
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 …
Russia, Venezuela Agree Massive $14bn Investment Deal
President of Venezuela Nicolas Maduro says his country has reached an agreement with Russia, which will see investment of $14 billion in the oil and gas sector over the next few years. The agreement was reached between the Venezuelan state oil firm, PDVSA (Petroleos de Venezuela) and the Russian oil …
Gazprom: Meets With Pipe Suppliers
Alexey Miller, Chairman of the Gazprom Management Committee held another meeting on innovations in the Russian pipe industry today at the Volga Pipe Plant headquarters (city of Volzhsky, Volgograd Region). Prior to the meeting, Gazprom’s delegation got acquainted with pipe products of the Volga Pipe Plant (Pipe Metallurgical Company TMK) and visited a new concrete coating site of Pipeline …
Lukoil: LUKOIL-Permnefteorgsintez Starts Second Production Unit for APG
Vagit Alekperov, OAO LUKOIL President, Mikhail Babich, Presidential Plenipotentiary Envoy to the Volga Federal District, and Viktor Basargin, Governor of Perm Territory, took part in the ceremonial commissioning of the second production line of a unit, NTKR-2, for low-temperature condensation and fractionation of associated petroleum gas (APG), at OAO LUKOIL-Permnefteorgsintez, …
Rosneft: To Quit UAE and Crescent Petroleum Project Due to Non Commercial Hydrocarbon Reserves?
Russia’s top oil producer Rosneft said on Tuesday it is considering quitting a gas project with UAE-based Crescent Petroleum in the emirate of Sharjah after exploration drilling failed to confirm commercial reserves. Abandoning the project would be yet another setback for Rosneft’s efforts to expand its global reach. The company …
Rosneft Produced One Millionth Ton of Oil at the Northern Tip of Chayvo Field
On May 25, Rosneft produced one millionth ton of crude oil at the Northern Tip of Chayvo field on the shelf of the Sakhalin Island. This milestone was reached just eight months after drilling of the first well at the field was completed in September 2014 from the onshore site. …
Emirates National Oil Company: Swoops for Dragon Oil at 735p Per Share
Following the announcement by Emirates National Oil Company, ENOC on 17 March 2015 confirming that it had made an approach regarding a possible offer for Dragon Oil, ENOC confirms that it has been in discussions with the independent committee of the board of Dragon Oil (the “Independent Committee”) regarding the terms …
Tethys Petroleum: Secures AGR Energy Loan Plus Additional Financing From Pope Asset Management
Tethys Petroleum Limited is pleased to announce that in addition to the recently announced US$7.5 million convertible debenture financing, it has entered into an agreement in respect of the issue and sale of an additional convertible debenture as described below. Additional Convertible Loan Signed — Financing: Unsecured convertible loan facility …
Petroneft: Sibkrayevskoye Naturally Flowing at 100 bopd
PetroNeft an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, is pleased to provide an update on operations at Licence 61. Highlights Sibkrayevskoye Sibkrayevskoye No. 373 appraisal well flows 100 bopd (stabilised, unstimulated natural flow) and confirms 11.5 m net oil pay. Flow rates …
BP Azerbaijan Suspends Operation at Oil Platform in Caspian Sea
BP, the operator of the project of developing the block of oil and gas fields Azeri-Chirag-Guneshli (ACG), has suspended the operation of Western Azeri platform to conduct the maintenance work, BP told Trend May 21. According to the plan, oil production from the platform has been suspended for about 22 …