Shell Completes Divestment of Oil sands Interests in Canada
Royal Dutch Shell plc today announces the completion of two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell Canada Resources (“Shell”) that will see Shell sell all its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project …
Caspian Sunrise: Completes Baverstock Gmbh Merger
Caspian Sunrise, the Central Asian oil and gas company, with a focus on Kazakhstan, is pleased to announce the completion of the merger with Baverstock GmbH, (“Baverstock”). The final condition of the merger was satisfied this morning being the admittance to trading on AIM of the 651,436,544 merger shares (“Baverstock …
GE / Baker Hughes: European Commission Clears Merger
Baker Hughes Incorporated (NYSE:BHI) and General Electric Company (NYSE:GE) announced today that the European Commission has cleared the proposed transaction between Baker Hughes and GE’s oil and gas business under EU merger control rules. The companies remain confident in the value that the combined company will deliver to its customers, …
Kazakh Tengiz Oilfield Suspends Operations After Toxic Substance Release
Kazakhstan’s energy ministry said on Tuesday that Tengizchevroil project has suspended operations at Tengiz oilfield after a toxic substance was released, while workers were evacuated. Chevron, ExxonMobil, Lukoil <LKOH.MM and KazMunayGas are partners in the venture, the Central Asian nation’s biggest oil producer. (Reporting by Alla Afanasyeva; writing by Vladimir …
Lukoil Announces Consolidated IFRS Results for the First Quarter of 2017
PJSC LUKOIL today released its condensed interim consolidated financial statements for the three months ended 31 March 2017 prepared in accordance with International Financial Reporting Standards (IFRS). Financial Highlights 1Q 2017 4Q 2016 1Q 2016 (RUB bln) Sales 1,431.6 1,400.9 1,177.7 EBITDA 207.6 183.3 192.0 EBITDA excluding …
Gazprom and Shell Discuss Joint Prospects Under Agreement of Strategic Cooperation
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Maarten Wetselaar, Member of the Executive Committee of Royal Dutch Shell, took place in Moscow today. The meeting addressed a wide range of issues related to bilateral partnership, with a focus on prospects for collaboration under the Agreement of Strategic Cooperation signed by the two companies in 2015. Background Royal Dutch …
Gazprom Neft Reports Record Net Income for Q1 2017
Gazprom Neft (the “Company”) today publishes its consolidated IFRS financial statements for Q1 2017. Net income of RUB 62 bn, a year-on-year increase of 49.1%, driven by strong organic growth and management efficiency initiatives. Adjusted EBITDA* increased by 22% year-on-year to RUB 118 bn. Hydrocarbon production, inclusive …
Rosneft Cuts Oil Output with an Eye to Ramping Up Again
Russia’s Rosneft is ready to resume full oil output quickly once OPEC-led cuts end as the country’s top producer has focused its own cuts on newer fields, its chief executive has said. Those cuts run until June 30, though oil ministers from OPEC and non-OPEC countries meeting in Vienna this …
Lancrenan Investments: Sues KMG EP Over Failure of Alexander Gladyshev’s Nomination to the Board
JSC KazMunaiGas Exploration Production (“KMG EP” or the “Company”) notes recent media reports about proceedings against the Company by Lancrenan Investments Limited filed with the Specialized Interdistrict Economic Court of Astana. In its claim Lancrenan Investments Limited challenges the decision of the Nominations Committee and the Board of Directors of …
RK Oil: Ordymskiy Block Well Behind Schedule
The Board of Urals Energy, the independent exploration and production company with operations in Russia, is pleased to provide the following operational update. Komi Republic The Company announced on 10th April 2017 the spudding of its first well on its Ordymskiy block in the Komi Republic, held by its wholly …