Rosneft President Igor Sechin Held Working Visit to South Korea
Igor Sechin, Rosneft President and Chairman of the Management Board, held a working visit to the Republic of South Korea to hold talks with KOGAS and STX management on February 16. The parties discussed prospects for expanding cooperation in hydrocarbon production as well as development of transportation technologies. Source
Slavneft: Marginal Year Increase in Proven Reserves of 0.5%
As of December 31, 2012, Slavneft’s audited proven reserves under USA Securities and Exchange Commission’s (SEC) LOF (life of field) methodology amounted to 1650.4 million barrels. The Company’s proven reserves increased by 8.4 million barrels or 0.5% as compared to 2011. The Holding’s reserves replacement ratio calculated as a ratio …
TNK-BP is First in Russia to Get FTS Investment Tax Credit for Energy Efficient Projects
ТNК-ВР reports that it has become the first Russian company to sign an agreement with the Federal Tax Service (FTS) on an investment tax credit for implementing energy efficiency improvement projects in West Siberian brownfields. TNK-BP is one of the major power consumers in Russia (ca. 1.5% in the country’s …
Leading Russian Experts Believe that “Energy Strategy of Russia” Needs A Serious Review
07 February 2013 in Moscow, in the framework of the preparation to the XI Moscow International Energy Forum “Russian Energy and Fuel Complex in the XXI century” was held the round table “World Energy: On the Threshold of Major Changes. The place of Russia in Global Energy Markets by 2020.” …
Rosneft and ExxonMobil Expand Strategic Offshore Cooperation
Rosneft and ExxonMobil have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include approximately additional 600,000 square kilometers (150 million acres) of exploration acreage in the Russian Arctic, and potential participation by Rosneft (or its affiliate) in the Point Thomson project in Alaska. They have also …
Rosneft: Board of Directors Meeting Results
Rosneft Board of Directors met on February 11, 2013 and took the following decisions: on execution by the Company of transactions to arrange financing from a group of international banks for the total amount of $14.2 billion to acquire 50% of TNK-BP Ltd. shares from Alfa-Access-Renova (AAR) Consortium; on expanding …
Rosneft Signs Loan Agreements Worth $14.2 Bln with Group of International Banks
On February 13, 2013 Rosneft signed loan agreements for the total amount of U.S. $14.212 billion. The financing will be used to acquire a 50% stake in TNK-BP Ltd. from AAR (Alfa, Access, Renova) Consortium. The cost of the financing that is being arranged is one of the lowest at …
Alliance Oil: Launches Gas Production at the Ust-Silginskiy Field
Alliance Oil Company Ltd has completed infrastructure development and launched gas production at the Ust-Silginskiy field in the Tomsk region. The Company has started delivering gas via a 43-kilometer pipeline from the field to the Gazprom trunk pipeline. A gas sales contract has been signed with Gazprom’s subsidiary. A gas …
SOCAR: Europe may receive Shah Deniz gas by 2019
Gas from the second phase of Azerbaijan’s Shah Deniz gas project is expected to reach Europe in 2019, Azeri state energy firm SOCAR said on Tuesday. ‘Production at Shah Deniz II will start in 2018. The pipeline will be filled and gas will reach European borders by 2019,’ SOCAR First …
Dockwise Ltd : Q4 2012: Strong finish to 2012; Dockwise Entering Period of Sustained Growth
DOCKWISE Ltd. today publishes results for the three month period ended 31 December 2012. Results of Fairstar Heavy Transport N.V. are fully consolidated within the financial statements for Dockwise Ltd. as from 1 July 2012. Financial Highlights Q4 2012 Revenues of USD 187 million (USD 136 million in Q3 2012); …