C.A.T. oil AG: To Carefully Consider Joma Industrial Offer
Management Board and Supervisory Board will publish their reasoned opinion on the offer in due course C.A.T. oil AG one of the leading providers of oil and gas field services in Russia and Kazakhstan, notes today’s publication of the offer document for the mandatory public takeover offer announced by Joma Industrial Source Corp. (“Joma Industrial”) …
Novatek: Urengoyskoye, Stage 1, Reaches Full Design Capacity
OAO NOVATEK announced today that the first stage of the Urengoyskoye field within the Samburgskiy license area developed by SeverEnergia (a joint venture between NOVATEK and OAO Gazprom Neft) reached its full design capacity of approximately seven (7) billion cubic meters (bcm) of natural gas and 2.5 million tons of …
Exillon Energy: Produces 17,808 bbl/day in November
Exillon Energy plc, a London Premium listed oil producer with assets in two oil-rich regions of Russia, Timan-Pechora and West Siberia , is pleased to announce unaudited production data for the month of November 2014 (“the Period”). · Our average daily production[1] was 17,808 bbl/day during the period. · Average …
Shelton Petroleum: November Production Dips, Pumps to Be Replaced in December
Shelton Petroleum’s total oil production in November 2014 amounted to 25,590 barrels, equivalent to 853 barrels per day. The table below summarizes the production broken down by oil field. Nov 2014 Nov 2013 Jan-Nov 2014 Jan-Nov 2013 Jan-Dec 2013 Jan-Dec 2012 Lelyaki 10,110 11,020 114,731 115,085 126,565 …
Bashneft: Shares Back in State Hands
Today, JSOC Bashneft was notified by its registrar, OJSC Reestr, that the Company’s majority shareholder has changed. According to the notification, 122,971,934 ordinary shares and 6,192,245 preferred shares of JSOC Bashneft (71.62% of its authorized share capital) have been transferred from the accounts of OJSC JSFC Sistema and CJSC Sistema-Invest …
KMG EP’s Board of Directors Approve the Budget for 2015
JSC KazMunaiGas Exploration Production held its regular Board of Directors meeting on December 8, 2014. At the meeting the Board approved the budget for 2015 which assumes a Brent oil price of US$70 per barrel. Planned production in 2015 is expected to be 5.4 million tonnes (109 kbopd) from JCS …
Gazprom Neft: Investors in Iraq’s Badra Field to Start Seeing Returns
In the 90 days up to late November 2014 around 15,000 barrels per day were released from the Badra oilfield into Iraq’s main pipeline system. This is in line with the basic terms of the field’s development contract. The Badra field is operated by Gazprom Neft. Once the field is …
Rosneft: Launches Long Term Strategic Plan – Reduce Cost Base Whilst Increasing Performance, Develop Powerful OFS Business
At its meeting December 9, the Rosneft Board of Directors approved the main strategic objectives for Company developments. In particular, Board of Directors members endorsed Rosneft Development Strategy and Long-term Development Program until 2030. The Company’s strategic goals aimed to enhance leadership in terms of volumes of production and reserves …
Rosneft: Vankorneft Starts Construction of Suzun Field Pipeline
Vankorneft, a subsidiary of Rosneft, in compliance with the program of Suzun field development started construction of pressure oil pipeline to connect Suzun and Vankor oil fields. Total length of the oil pipeline will be 101 km. The project implementation became possible due to a complex of technical and managerial …
World Bank: Adjusts Russian Growth Outlook
The World Bank has updated its economic outlook for Russia for 2015 and 2016 to reflect a further decline and increased volatility in global oil prices. The revised outlook is articulated through three scenarios – a baseline, an upper, and a lower- case – based on different oil price assumptions. …