Petrogrand: 9m Results – No Operating Income in the 3rd Quarter
Third quarter of 2015 • Oil production in Ripiano attributed to Petrogrand increased in the third quarter by 14% to 84 274 barrels of oil or an average of 916 bopd compared to the previous quarter • During the third quarter, the Group had no operating income (-). The operating …
Gazprom: Import Substitution Efforts Boost Russian Companies
The Gazprom Board of Directors took notice of the information about Gazprom Group’s procurement activity in the new business environment as well as about the import restricting measures. Gazprom has been facilitating the domestic industry development for a long time by giving priority to domestic goods. The import substitution activity …
Gazprom: Working meetings with CNPC and PetroChina held
Beijing hosted today working meetings among Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee, Wang Dongjin, Vice President of CNPC and Huang Weihe, Vice President of PetroChina. The parties addressed the progress with the project for constructing the Power of Siberia gas pipeline to supply Russian natural gas to …
Rosneft: 9M Results – 16% Increase in Revenue with Improved Credit Profile
Commenting the results for 9M 2015, I.I. Sechin, Chairman of Rosneft Management Board, said: “Despite of challenging economic environment, the Company keeps improving its efficiency. This is demonstrated by keeping operating costs in rouble terms at sustainable level in conditions of 12.0% increase in industry prices. Preserving the cost base …
Tethys Petroleum: AGR Energy Calls in $7.5m Debenture
Tethys Petroleum Limited announces that it has received an Accelerated Repayment Notice from AGR Energy Limited No 1 (“AGR Energy”) in relation to the unsecured convertible debenture issued by Tethys to AGR Energy on 15 May 2015 (“Convertible Debenture”) notifying the Company of events of default and demanding repayment of …
Yamal LNG: Issues $1.16bn from the National Welfare Fund of Russia
OAO Yamal LNG (“Yamal LNG”) announced the issuance of 15-year bonds for the total amount of RR 75 billion (USD 1.16 billion). The bonds are nominated in US dollars with the interest rate linked to LIBOR. The bonds were issued as part of withdrawal of the second tranche of the …
Tethys Petroleum: Extends Olisol Exclusivity Period
Tethys Petroleum Limited announces that is has agreed to extend the previously agreed exclusivity period with Olisol Investments Limited (“Olisol”) by 14 days to 11:59 p.m. Calgary time on December 7, 2015 (as extended, the “Exclusivity Period”). On November 9, 2015 Tethys and Olisol signed a Letter of Intent (“LOI”) …
Gazprom Neft: 9M Results – Production Up 22%, EBITDA Up 9.3%
Gazprom Neft has published its consolidated financial results for 9M 2015, prepared in accordance with International Financial Reporting Standards (IFRS). Rising hydrocarbon production, retail sales and efficient management drove a Y-o-Y increase in adjusted EBITDA* of 9.3% (RUB 312 bln) for 9M 2015. A 0.6% Y-o-Y decline in sales was …
Urals Energy: Buys RK-Oil and BNV Oil
Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce the acquisition of the entire issued share capital of two private Russian companies, RK-Oil Limited (“RK”) and BVN Oil Limited (“BVN”), from Mr Ilya Glebov. These companies were formed in 2014 in order …
Shelton Petroleum: 9M Results – Petrogrand Merger Plus Margins Running at 22%
January – September 2015 Continuing Operations* – Total revenue: SEK 23 (36) million – Operating result: SEK 1 (2) million – Operating margin: 2% (6%) – Basic and diluted earnings per share: SEK -2.58 (0.11) January – September 2015 Russian and Ukrainian Operations** – Revenue: SEK 62 (93) million – …