Schneider Electric to Reinforce Automation Solutions with Purchase of Invensys
The board of Schneider Electric S.A. announced today that it has reached an agreement on the terms of a recommended offer by Schneider Electric to acquire the entire issued and to be issued share capital of Invensys plc. Key highlights A response to Schneider Electric clients’ continual search for higher …
Rosneft: Green Light to Buy Gas Assets
The watchdog, known as FAS, said it had approved a bid by Rosneft’s TNK-BP Holding unit for Urengoy Gas Co (UGC) and Geotransgas, both in Russia’s Yamal-Nenets district in the country’s gas production heartland. TNK-BP became a unit of Rosneft earlier this year, when the state oil company acquired its …
KazMunaiGaz Talks to Tatneft to Adopt Labour and Wage Practices
A team of JSC TATNEFT professionals visited JSC NC “KazMunaiGas”. Following the invitation of the Kazakh Company the delegation of Tatarstan held a seminar on the experience of TATNEFT in the labor organization and regulation of wages. Vladimir Shumskikh, Deputy Chief of OOTiZP (Labor Organization and Wages Office) of JSC …
Exillon Energy: Maksat Arip, Founding Shareholder, Makes Buyout Approach
The Company announces that it has received an approach by Mr Maksat Arip, a founding shareholder of the Company who continues to hold 30.17% of the Company’s shares and was previously Chairman of the Company, that may or may not lead to an offer being made for the Company. The …
Ruspetro: Announce Key Changes to Board
Ruspetro plc today announces a number of important Board changes effective from 1 August 2013: · Mr Frank Monstrey and Mr John Conlin appointed as Independent Non-Executive Directors · Mr Kirill Androsov will replace Mr James Gerson as the Non-Executive Director representing Limolines Transport Limited · The Board remains independent …
Weatherford: 2nd Quarter Results – Revenues of $3.9bn
Weatherford International Ltd. today reported results for the second quarter ended June 30, 2013. Second Quarter 2013 Highlights – $0.15 per diluted share (non-GAAP), or net income of $116 million excluding after-tax losses of $234 million; – Estimated $153 million potential FCPA and Oil-for-Food settlement with the U.S. government; – …
Lukoil Builds A New Pipeline For Associated Petroleum Gas
LUKOIL has begun building a new pipeline to transport associated petroleum gas (APG) from the Kokuyskoye field to the LUKOIL-Permneftegazpererabotka gas processing plant. The pipeline is 105 kilometers long, and its capacity is one billion cubic meters per year. The pipeline commissioning is scheduled for August, 2014. The pipeline is …
National Oilwell Varco: Second Quarter Revenue at $5.6bn With Record Backlog
National Oilwell Varco, Inc. today reported that for its second quarter ended June 30, 2013 it earned net income of $531 million, or $1.24 per fully diluted share, compared to first quarter ended March 31, 2013 net income of $502 million, or $1.17 per fully diluted share. Excluding transaction charges …
Tatneft: Innovations Result in Cost Savings
4,135 professionals of the Company implemented 3,954 rationalization proposals and inventions in the first half of 2013 accounting for savings in the amount of 399.5 million rubles. 82 applications for alleged inventions and utility models were sent to the Federal Institute of Industrial Property and 94 documents of title were …
Rosneft: Financial and Production Figures Up Massively Due to Multiple Acquisitions
Hydrocarbon production (including production by fully and proportionally consolidated subsidiaries and share in production by affiliates) increased by 82.8% in H1 2013 and reached 4,804 th. boepd. H1 crude oil production reached 4,183 th. bpd, which represents a 73.5% increase Y-o-Y, while gas production more than doubled and reached 15.3 …