Rosneft: To Quit UAE and Crescent Petroleum Project Due to Non Commercial Hydrocarbon Reserves?
Russia’s top oil producer Rosneft said on Tuesday it is considering quitting a gas project with UAE-based Crescent Petroleum in the emirate of Sharjah after exploration drilling failed to confirm commercial reserves. Abandoning the project would be yet another setback for Rosneft’s efforts to expand its global reach. The company …
Rosneft Produced One Millionth Ton of Oil at the Northern Tip of Chayvo Field
On May 25, Rosneft produced one millionth ton of crude oil at the Northern Tip of Chayvo field on the shelf of the Sakhalin Island. This milestone was reached just eight months after drilling of the first well at the field was completed in September 2014 from the onshore site. …
Emirates National Oil Company: Swoops for Dragon Oil at 735p Per Share
Following the announcement by Emirates National Oil Company, ENOC on 17 March 2015 confirming that it had made an approach regarding a possible offer for Dragon Oil, ENOC confirms that it has been in discussions with the independent committee of the board of Dragon Oil (the “Independent Committee”) regarding the terms …
Tethys Petroleum: Secures AGR Energy Loan Plus Additional Financing From Pope Asset Management
Tethys Petroleum Limited is pleased to announce that in addition to the recently announced US$7.5 million convertible debenture financing, it has entered into an agreement in respect of the issue and sale of an additional convertible debenture as described below. Additional Convertible Loan Signed — Financing: Unsecured convertible loan facility …
Petroneft: Sibkrayevskoye Naturally Flowing at 100 bopd
PetroNeft an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, is pleased to provide an update on operations at Licence 61. Highlights Sibkrayevskoye Sibkrayevskoye No. 373 appraisal well flows 100 bopd (stabilised, unstimulated natural flow) and confirms 11.5 m net oil pay. Flow rates …
BP Azerbaijan Suspends Operation at Oil Platform in Caspian Sea
BP, the operator of the project of developing the block of oil and gas fields Azeri-Chirag-Guneshli (ACG), has suspended the operation of Western Azeri platform to conduct the maintenance work, BP told Trend May 21. According to the plan, oil production from the platform has been suspended for about 22 …
Gazprom: Exploration Activities Adds Over 800 Billion Cubic Metres of Gas
On the threshold of Gazprom’s annual General Shareholders Meeting the Company’s headquarters hosted today Press Conference “Mineral and Raw Material Base Development. Gas Production. Gas Transmission System Development”. Taking part in the Press Conference were Vitaly Markelov, Deputy Chairman of the Management Committee, Gazprom; Members of the Gazprom Management Committee: Oleg Aksyutin, Dmitry Lyugai, Sergey …
Roxi Petroleum: Galaz Sale to Fund BNG Development
Further to the announcement of 10 February 2015, Roxi, the Central Asian oil and gas company with a focus on Kazakhstan, is pleased to announce that the sale of the Company’s equity and debt interests in the Galaz Contract Area to a consortium led by Xinjiang Zhundong Petroleum Technology Co, …
Statoil ASA: Annual General Meeting Approves Q4 Dividend of NOK 1.80 per Share
On 19 May 2015 the annual general meeting of shareholders in Statoil ASA (OSE: STL, NYSE: STO) adopted the annual report and accounts for Statoil ASA for 2014, as proposed by the board of directors. The annual accounts and the annual report for Statoil ASA and the Statoil group for …
Petrogrand: Announces the Appointment of Lars Vilhelmson as Acting CFO
Petrogrand is pleased to announce the appointment of Lars Vilhelmson as acting CFO. Lars Vilhelmson has previously served as CFO at Petrogrand AB from January 2011 to August 2014. Lars has previously a background as CFO of Cool Carriers AB.