Sistema: Vladimir Yevtushenkov's House Arrest Extended to the 16th of November
A Moscow court ordered wealthy businessman Vladimir Yevtushenkov on Thursday to remain under house arrest until Nov. 16, sending shares in his company Sistema sharply lower in a case that has shocked Russia’s business community and unnerved investors reported Vladimir Soldatkin. * Yevtushenkov to stay under house arrest until Nov. …
Sistema: Russian Court Seizes Shares due to “Significant Violations” of the Law
A Russian court has seized shares in oil company Bashneft that are owned by Sistema, a conglomerate controlled by wealthy businessman Vladimir Yevtushenkov, over alleged violations in the oil firm’s sale reported Reuters. The court granted a request by the Russian prosecutor general’s office, which said on Friday it had …
Sistema: Russian Court Seizes Shares due to "Significant Violations" of the Law
A Russian court has seized shares in oil company Bashneft that are owned by Sistema, a conglomerate controlled by wealthy businessman Vladimir Yevtushenkov, over alleged violations in the oil firm’s sale reported Reuters. The court granted a request by the Russian prosecutor general’s office, which said on Friday it had …
Sistema: Fails to Complete United Petrochemical Company Acquisition
Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS, announces that the acquisition of a 98% stake in OJSC United Petrochemical Company (“UPC”) from the Group’s subsidiary JSOC Bashneft has not been completed. Bashneft retains ownership of UPC.
Petrogrand: To Frac Zapadno-Ambarskaya to See if Commercial Flows are Possible
Following the results of the Petrogrand‘s well Zapadno-Ambarskaya N 6, drilled in 2012, the Board of Directors has decided to undertake hydro-fracking on the Well No. 6, on the Nizhnepaninsky license area. After an extensive review of the drilling results, the seismic data and with the application of modern modelling …
Bashneft: Board Submits Deals to EGM for Approvals
At its latest meeting held on September 23, 2014, JSOC Bashneft’s Board of Directors decided to submit a number of related-party transactions to the Extraordinary General Meeting of Shareholders of the Company for review on October 15, 2014 Thus, it was suggested that the Meeting of Shareholders should approve a …
Bashneft: Oleg Mikhaylov Steps down
JSOC Bashneft’s Board of Directors has accepted the resignation of Oleg Mikhaylov, Vice President for Oil and Gas Production, from the Management Board, as Mr. Mikhaylov has decided to leave the Company for family reasons. «We greatly regret that Oleg Mikhaylov is leaving the Company. He has made a significant …
Bashneft: Wins Leonovskiy Subsoil Area at Bashkortostan Auction
At an auction for the right to conduct geological exploration, prospecting and production of hydrocarbons held on September 23 by the Department of Subsoil Use of the Volga Federal District (Privolzhsknedra), Bashneft won the rights to the Leonovskiy subsoil area. Bashneft will make a one-time payment of 28.3 million roubles …
Zoltav Resources: Completes Bortovoy License Acquisition
On 16 December 2013 Zoltav, the CIS-focused oil and gas company, announced that it had entered into a conditional agreement with Bandbear Limited (“Bandbear”) to acquire the entire issued share capital of Royal Atlantic Energy (Cyprus) Limited (“Royal Atlantic Energy”) for a total consideration of US$180 million (the “Acquisition”). The …
Technology Roundtable: Unconventional Oil
Russia is starting to develop its unconventional reserves with pilot projects and longer term plans in place. How do you see the current state of the unconventional sector in Russia and how quickly do you think full scale unconventional development in the region will take place? Weatherford: It is difficult …