Shell to Halt Carmon Creek in Situ Project
Royal Dutch Shell plc (“Shell”) today announces that the company will not continue construction of the 80,000 barrel per day Carmon Creek thermal in situ project located in Alberta, Canada. Shell originally sanctioned the project in October 2013 and announced in March 2015 that the project would be re-phased to …
Nostrum Oil and Gas: 9M Results – Revenue Over $370m, Drilling Program On Target
Nostrum Oil & Gas PLC, an independent oil and gas company engaging in the production, development and exploration of oil and gas in the pre-Caspian Basin, today announces its operational update for the nine month period ended 30 September 2015. This update is being issued in advance of the release …
BP: Q3 Results – Targeting $60 a Barrel
BP today reported results for the third quarter of 2015 and set out a medium-term financial frame to balance cash flows by 2017 at around $60 per barrel. – Plans for balanced cash flows by 2017 at around $60 per barrel and growth in sustainable free cash flow beyond – …
Rosneft and the Ministry of Foreign Affairs Signed an Agreement of Cooperation
Rosneft and the Ministry of Foreign Affairs of the Russian Federation signed an Agreement of cooperation. The document was signed by Rosneft Chairman of the Management board Igor Sechin and the Minister of foreign affairs of Russia Sergey Lavrov. The agreement will allow boosting the level of coordination between Rosneft, …
KazMunaiGas Exploration Production: 9M Results – Production Slightly Up
JSC KazMunaiGas Exploration Production announces its operating results for the first nine months of 2015. KMG EP produced 9,245 thousand tonnes of crude oil (251kbopd), including the Company’s stakes in Kazgermunai (KGM), CCEL (Karazhanbasmunai) and PetroKazakhstan Inc. (PKI), which is 0.3% more than in the same period of 2014. Ozenmunaigas …
Exillon Energy: Produces Unaudited 15,660 bbl/d in September
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”), is pleased to announce unaudited production data for the month of September 2015 (“the Period”). · Our average daily production[1] was 15,660 bbl/day during the …
Gazprom: Discusses Sakhalin II Project Development with Mitsubishi
The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Ken Kobayashi, President and CEO of Mitsubishi Corporation. The parties addressed the partnership development within the Sakhalin II project as well as the construction of the third process train at the LNG plant.
Gazprom: Increases Yearly Investment Spending
The Gazprom Board of Directors approved the adjusted Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2015. According to the adjusted Investment Program for 2015, the total amount of investments will account for RUB 1 trillion 043.04 billion, showing a RUB 238.69 billion increase versus the Investment Program approved in December 2014. At the same time, the amount …
Gazprom: Boosting LNG Sales – 17% yoy Increase in Sales
The Gazprom Board of Directors took notice of the information regarding the implementation of the strategy for production and supply of liquefied natural gas (LNG). Among the crucial factors determining the current status of the LNG market were highlighted the following: further growth of demand at promising markets of China, India and Southeastern Asia as well as the emergence of new …
Platts: Russia’s North Pole and Arctic Limits
Calling the oil resources of the Arctic vast is a bit like calling the weather there chilly. It is understandable why a nation would want to claim as much of it as possible. Yet the challenges to harvesting its wealth are also vast, which makes Russia’s move to owning a …