Kazakhstan: To Develop the Caspian Depression
Kazakhstan plans to form a consortium with global energy companies to explore and develop potentially huge hydrocarbon reserves in the Caspian Depression, Energy Minister Vladimir Shkolnik said on Monday. Central Asia’s largest economy and the second-largest post-Soviet oil producer after Russia, Kazakhstan for several years has touted the “Eurasia” project, …
Igor Sechin Held Talks in Egypt
On May 31, as part of his business trip, Rosneft Board Chairman Igor Sechin met Sherif Ismail, Egyptian Minister of Petroleum and Mineral Resources, and Tarek El Molla, Board Chairman of Egyptian General Petroleum Corporation (EGPC). During the meeting the parties discussed development of cooperation between Egyptian companies and Rosneft. …
Roxi Petroleum: Deep Well A5 – Unblocked and 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 together with updates on the Sale of Galaz and the proposed BOCO investment. Deep Wells Deep Well A5 The well was spudded …
Majors Call For Oil and Gas Carbon Pricing
Major oil and gas companies, BG Group plc, BP plc, Eni S.p.A., Royal Dutch Shell plc, Statoil ASA and Total SA, today announced their call to governments around the world and to the United Nations Framework Convention on Climate Change (UNFCCC) to introduce carbon pricing systems and create clear, stable, …
Rosneft Repaid Two Syndicated Loans of the Former TNK- BP Group
On May 28, Rosneft delivered a payment to the group of international banks repaying two syndicated loans which were obtained by former TNK- BP group in 2011-2012. The Chairman of Rosneft Management Board Igor Sechin said in this regard: “The Company responsibly refers to the fulfilment of liabilities to its …
Kazakhstan and Turkmenistan Agree Caspian Maritime Border
Kazakhstan and Turkmenistan have agreed to their maritime border in the Caspian Sea despite the continued lack of agreement on the legal status of the Caspian among its five littoral states. Both Kazakh and Turkmen media reported on May 26 that Turkmenistan’s parliament ratified an agreement with Kazakhstan that dated …
Ural Energy: Receives $6m Pre-Export Loan From Petraco, Secured Against Arcticneft
The Board of Urals Energy PCL, the independent exploration and production company with operations in Russia, is pleased to announce that it has entered into a pre-export short term loan finance arrangement with Petraco Oil Company Limited (“Petraco”) under which Petraco will advance the sum of US$6.0 million to the …
Russia, Venezuela Agree Massive $14bn Investment Deal
President of Venezuela Nicolas Maduro says his country has reached an agreement with Russia, which will see investment of $14 billion in the oil and gas sector over the next few years. The agreement was reached between the Venezuelan state oil firm, PDVSA (Petroleos de Venezuela) and the Russian oil …
Gazprom: Meets With Pipe Suppliers
Alexey Miller, Chairman of the Gazprom Management Committee held another meeting on innovations in the Russian pipe industry today at the Volga Pipe Plant headquarters (city of Volzhsky, Volgograd Region). Prior to the meeting, Gazprom’s delegation got acquainted with pipe products of the Volga Pipe Plant (Pipe Metallurgical Company TMK) and visited a new concrete coating site of Pipeline …
Lukoil: LUKOIL-Permnefteorgsintez Starts Second Production Unit for APG
Vagit Alekperov, OAO LUKOIL President, Mikhail Babich, Presidential Plenipotentiary Envoy to the Volga Federal District, and Viktor Basargin, Governor of Perm Territory, took part in the ceremonial commissioning of the second production line of a unit, NTKR-2, for low-temperature condensation and fractionation of associated petroleum gas (APG), at OAO LUKOIL-Permnefteorgsintez, …