Gazprom Neft Shelf: Prirazlomnoye Re-Injection Well Brought in to Operation
Consistent with scheduled development at the Prirazlomnoye field, a re-injection well has been brought into operation on the Prirazlomnaya ice-resistant offshore platform, following drilling operations by Russia’s Gazprom Burenie. The well will help streamline the use of resources at the field by improving the rate of oil recovery. The well …
Tethys Petroleum: AGR Energy Offers Short Term Liquidity and Subscription Offer
Tethys Petroleum Limited announces that it has received a non-binding letter of intent from AGR Energy Holdings Limited (“AGR Energy”) in connection with a potential US$20 million equity fundraising at a price of C$0.165 per share and potential US$5 million loan to support short-term liquidity. In addition to the equity …
Urals Energy: Expands License Area Boundries
Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that, following the payment of a royalty of RR27.5 million to the Russian regulatory authorities, the Company has been granted an additional license by the Russian regulatory authorities that has expanded the boundaries …
Petrogrand and Shelton Petroleum: Finally Combine on Russian Assets Only
Petrogrand AB and Shelton Petroleum AB have entered into an agreement (i) to form a new combined and enlarged oil group with exclusively Russian oil assets and (ii) to dissolve the cross-ownership between the two companies. Shelton Petroleum’s and Petrogrand’s operations in Bashkiria and Komi regions respectively, both located in …
Tethys Petroleum: Pope Asset Management Declines and Blocks Nostrum Offer
Tethys Petroleum Limited announces that Nostrum Oil & Gas PLC (“Nostrum”) has withdrawn its proposed offer that was previously announced on September 23, 2015 (“Proposed Offer”) to acquire the entire issued share capital of Tethys together with a proposed US$20 million interim funding transaction (the “Interim Funding” and, together with …
Tethys Petroleum: Olisol Investment Submits Proposal But Needs to Wait for Nostrum’s Period of Exclusivity
Tethys Petroleum Limited acknowledges the public announcement by Olisol Investment Group on October 2, 2015 regarding a non-binding proposal submitted to the Company. As announced on September 23, 2015, Tethys is currently in a period of exclusivity with Nostrum Oil & Gas PLC (“Nostrum”) and continues to negotiate the terms …
Tethys Petroleum: Olisol Investment Submits Proposal But Needs to Wait for Nostrum's Period of Exclusivity
Tethys Petroleum Limited acknowledges the public announcement by Olisol Investment Group on October 2, 2015 regarding a non-binding proposal submitted to the Company. As announced on September 23, 2015, Tethys is currently in a period of exclusivity with Nostrum Oil & Gas PLC (“Nostrum”) and continues to negotiate the terms …
Urals Energy: Petraco Loan Settled Plus Petrosakh Well 54 on Further Test
Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to provide the following updates. Petraco Loan Further to the Company’s announcements on 29 May 2015 and 1 September 2015, the Company confirms that the loan provided by Petraco Oil Company Limited including accrued interest …
Shell: Continues Yuzhno-Kirinskoye Talks With Gazprom
Energy major Shell is in talks to join Russia’s state-controlled Gazprom in tapping the Yuzhno-Kirinskoye gas field offshore Russia’s Sakhalin island in the Pacific, the head of Shell’s operations in the country said on Wednesday. “There are many things we talk about with Gazprom. And, of course, we talk about …
Platts Report: China Oil Demand Grows 10% Year over Year in August
China’s apparent oil demand* rose 10.2% in August from a year earlier to 11.19 million barrels per day (b/d), according to a just-released Platts analysis of Chinese government data. Barring gasoil and naphtha, China’s apparent demand for all other key products—gasoline, liquefied petroleum gas (LPG), jet/kerosene, and fuel oil—saw double …