Bashneft: Shares Back in State Hands
Today, JSOC Bashneft was notified by its registrar, OJSC Reestr, that the Company’s majority shareholder has changed. According to the notification, 122,971,934 ordinary shares and 6,192,245 preferred shares of JSOC Bashneft (71.62% of its authorized share capital) have been transferred from the accounts of OJSC JSFC Sistema and CJSC Sistema-Invest …
KMG EP’s Board of Directors Approve the Budget for 2015
JSC KazMunaiGas Exploration Production held its regular Board of Directors meeting on December 8, 2014. At the meeting the Board approved the budget for 2015 which assumes a Brent oil price of US$70 per barrel. Planned production in 2015 is expected to be 5.4 million tonnes (109 kbopd) from JCS …
Gazprom Neft: Investors in Iraq’s Badra Field to Start Seeing Returns
In the 90 days up to late November 2014 around 15,000 barrels per day were released from the Badra oilfield into Iraq’s main pipeline system. This is in line with the basic terms of the field’s development contract. The Badra field is operated by Gazprom Neft. Once the field is …
Rosneft: Launches Long Term Strategic Plan – Reduce Cost Base Whilst Increasing Performance, Develop Powerful OFS Business
At its meeting December 9, the Rosneft Board of Directors approved the main strategic objectives for Company developments. In particular, Board of Directors members endorsed Rosneft Development Strategy and Long-term Development Program until 2030. The Company’s strategic goals aimed to enhance leadership in terms of volumes of production and reserves …
Rosneft: Vankorneft Starts Construction of Suzun Field Pipeline
Vankorneft, a subsidiary of Rosneft, in compliance with the program of Suzun field development started construction of pressure oil pipeline to connect Suzun and Vankor oil fields. Total length of the oil pipeline will be 101 km. The project implementation became possible due to a complex of technical and managerial …
World Bank: Adjusts Russian Growth Outlook
The World Bank has updated its economic outlook for Russia for 2015 and 2016 to reflect a further decline and increased volatility in global oil prices. The revised outlook is articulated through three scenarios – a baseline, an upper, and a lower- case – based on different oil price assumptions. …
Surgutneftegas: Oil Production in Republic of Sakha Increased by 6,7%
In January-November 2014, Surgutneftegas produced 56,192.3 thousand tonnes of crude oil. For the year to date, crude output in the Republic of Sakha (Yakutia) equaled 7,039.5 thousand tonnes, 6.7 % up versus eleven months of the last year. In January-November 2014, overall gas production amounted to 8,547.7 million cubic meters. …
Tatneft: Oil Production Increased by 0,6% During 9M of 2014
Crude Oil Production The amount of 2,163,784 tons of crude oil or 100.6% versus November 2013 was produced at JSC TATNEFT in November, while the production since the beginning of the year amounted to 23, 999,908 tons, which was 112,250 tons more than in 2013 (100.5%). The amount of 23,557,826 …
Rosneft: Helps Find Rudolph!
The scientists of Siberian Federal University with the support of Rosneft found a missing population of Evenki wild reindeer. It became possible through implementation of the “Evenki reindeer” project, realized jointly with East-Siberian Oil and Gas Company (Rosneft’s subsidiary) and Siberian Federal University. During the first stage of the program …
Gazprom and UniCredit Sign Credit Agreement Worth EUR 390 million
Gazprom and UniCredit Bank signed a bilateral credit agreement worth a total of EUR 390 million in Vienna yesterday. The agreement is of great historical significance both for promoting the mutually beneficial relations between the two companies and for wider cooperation of Gazprom with financial communities of Italy and the entire Europe. Gazprom’s delegation was led by Andrey Kruglov, …