RN-Severnaya Neft: Starts Oil Production at the Labaganskoye Field
RN-Severnaya Neft, a Rosneft subsidiary, began commercial oil production at the Labaganskoye field. 3D CDP (Common Depth Point) seismic prospecting was performed in the area, appraisal wells were drilled. An extensive work was also completed to prepare for development drilling – the properties of oil and reservoir rocks that generated …
Gazprom: To work with BASF Nord Stream II Project
Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Hans-Ulrich Engel, Member of the BASF Board of Executive Directors signed in Berlin today a Memorandum of Intent stipulating the cooperation within the project for constructing the Nord Stream II gas pipeline. The document reflects the parties’ intents to implement …
ENOC: Up Dragon Oil Offer to 800 pence
Commenting on the revision to the Original Offer on behalf of ENOC, Saif Al Falasi, Group Chief Executive said: “We are pleased to have the support of the required majority of Dragon Oil Shareholders for our revised offer of 800 pence; including the two largest minority shareholders – Baillie Gifford …
Rosneft Statement on the Inclusion of the Company’s Subsidiaries in the Sectoral Sanction List of OFAC
Formal inclusion of some Rosneft subsidiaries in the list of entities that fall under sectoral sanctions is indicative of the ongoing illegitimate practice when the effects of political decisions are being extended to market players not influencing the decision-making. The subsidiaries on the List are financially stable and have sufficient …
Shtokman: Returns to All Russian Ownership
French company Total’s failed adventure in the Barents Sea comes to end as Gazprom buys its 25 percent stake in the Shtokman Development AG. Total and Gazprom during the recent St.Petersburg Economic Forum agreed that the latter would buy the former’s stake in the development company. With the deal, the …
Fourth Meeting of the OPEC-Russia Energy Dialogue
The fourth High Level Meeting of the OPEC-Russia Energy Dialogue was held on 30 July 2015 in Moscow. The Meeting was chaired by the Minister of Energy of the Russian Federation, Alexander Novak, and the Secretary General of OPEC, Abdalla Salem El-Badri. The meeting was attended by senior executives of …
Rosneft Files Joint Bid with ExxonMobil for Mozambique License Round
RN-Exploration (100% Rosneft subsidiary) and ExxonMobil Exploration and Production Mozambique Offshore Limited filed joint bids to participate in the fifth license round organized by the Republic of Mozambique Institute of National Petroleum (Instituto Nacional de Petróleo). The global partnership of the companies is of a strategic nature. Rosneft and ExxonMobil …
NOVATEK Announces Consolidated IFRS Results for Second Quarter and First Half 2015
OAO NOVATEK today released its consolidated interim condensed financial statements as of and for the three and six months ended 30 June 2015 prepared in accordance with International Financial Reporting Standards (“IFRS”). IFRS Financial Highlights (in millions of Russian roubles) 2Q2015 2Q2014 1H 2015 1H 2014 111,574 87,881 Oil and gas …
Alexey Lisovenko is Appointed Chief Financial Officer of Bashneft
the Board of Directors of PJSOC Bashneft has approved the appointment of Alexey Lisovenko as Vice President for Economics and Finance and Chief Financial Officer of the Company. Alexey Lisovenko has replaced Denis Stankevich, who took up the post of Bashneft’s First Vice President for Refining and Commerce in May this year. Alexey Lisovenko was born in 1972. In 1996 …
Gazprom: To Spend RUB 10.8bn on R&D
The Gazprom Board of Directors approved the report on the progress in 2014 with Gazprom’s Innovative Development Program until 2020. Gazprom Group continues earmarking considerable funds for financing research and development (R&D) activities. In 2014 a record-breaking amount in the whole Company history – RUB 10.82 billion – was devoted …