KMG EP: Confirms KBM Contract Extension
JSC KazMunaiGas Exploration Production (“KMG EP” or “Company”) is pleased to announce that an addendum has been signed to extend the contract for the production of raw hydrocarbons at Karazhanbas oil and gas field of Mangystau Province to the 7th of June 2035. The addendum to Contract No.60 dated 23 …
KBM: Granted 15 Year Extension on the Karazhanbas Oilfield
KBM has been granted an extension of its subsurface use contract to explore, develop, produce and sell oil from the Karazhanbas oilfield for a further period of 15 years commencing from its original expiry date in 2020 by the relevant governmental and regulatory authorities in Kazakhstan. Extension of Subsurface Use …
Naftogaz Suspends Gas Purchases from Gazprom Starting from 1 July Until Supply Conditions Are Agreed
Naftogaz suspends purchases of natural gas from Gazprom starting from July 1, given the expiration of the 2nd quarter terms package and the absence of agreed supply conditions for the upcoming periods. The delivery of Russian gas via Ukraine to Gazprom’s clients in the EU and Turkey will continue in …
Bashneft: To Pay RUB 20.07 billion in Dividends
Today, the Annual General Meeting of PJSOC Bashneft approved the corporate annual report and annual financial statements, including the corporate profit and loss statement for 2014. The meeting of shareholders resolved to allocate RUB 20.07 billion out of net profits generated by PJSOC Bashneft in 2014 to pay dividends for …
Tethys Petroleum: AGR Energy Takes US$47.7m Private Placement Plus Offers US$5m Loan
Tethys Petroleum Limited is pleased to announce that it has signed an agreement for a US$47.7 million(1) private placement of 318,003,951 new ordinary shares at a price of C$0.19(2) per ordinary share (the “Placing”) with AGR Energy Holdings Limited (“AGR Energy Holdings”). In connection with the Placing, the Company has …
Slavneft: AGM Results
The Annual General Meeting of Open Joint-Stock Oil and Gas Company Slavneft’s (OAO NGK Slavneft’s) Shareholders was held in Moscow on June 30, 2015. The Company’s 2014 Annual Report and Financial Statements, including the Profit and Loss Statement, were approved at the Meeting. The shareholders resolved not to distribute the …
Slavneft: Appoint Mikhail Osipov as President
At the meeting on June 29, 2015, the Slavneft Board of Directors passed the resolution to terminate the powers of Yuri Sukhanov, the Company’s President. Mikhail Osipov, who had held the position of the Company’s Vice President for Upstream before, was appointed to be the new President of Slavneft for …
Urals Energy: Petrosakh Takes 300m Rb Credit Facility
The Board of Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that its subsidiary undertaking, JSC Petrosakh (“Petrosakh”), has entered into an 18 month revolving credit facility (the “Loan”) with the Sakhalin branch of OJSC Sberbank of Russia (“Sberbank”) under which …
Roxi Petroleum: Deep Well A5 on 30 Day Well Test
Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to further update the market with news of progress at its flagship BNG asset. Deep Wells Deep Well A5 The well was spudded in July 2013 and drilled to a total depth of 4,442 meters …
Surgutneftegas: AGM Results
In line with the agenda, the shareholders approved the annual report and annual accounting statements of OJSC “Surgutneftegas”, including the income statement for 2014. The meeting resolved to declare payment of dividends for 2014 as follows: RUB 8.21 per preference share and RUB 0.65 per ordinary share. The meeting elected …