Ground Breaking for Jotun Russia Factory Construction
OOO Jotun Paints is breaking ground on construction of its new protective coating and powder coating factory. The factory is being constructed on a 9 hectare land plot of land in the Fedorovsky Industrial Park in Leningrad Region. When complete, the factory will have a capacity to produce up to …
ROGTEC talks to Dmitry Eydinov, Director of Business Development, Rock Flow Dynamics
How long have you been doing business in the region? The company was established in 2005 by a few enthusiastic people who wanted to change the existing paradigms of the reservoir simulations. After 5 years of struggling for survival, the company flagship software product tNavigator reached a level of superior …
TNK-BP To Save $30m In 2012 By Implementing a Lean Production Program
TNK-BP reports that its pilot program of lean production based on the principles of Toyota Production System (TPS), has reaped an economic benefit of $12.8 mln based on the results of the past 9 months. The most important factor in TNK-BP sustainable development is its continuous improvements in efficiency. The …
Tatneft: Board Meeting
A regular meeting of the Board of Directors of OAO TATNEFT chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan (Republic of Tatarstan) on September 28, 2012. The meeting reviewed the OAO TATNEFT’s budget execution for eight months of 2012 and approved the budget for …
Name change for Blohm + Voss Repair GmbH – Oil Tool Division
Beginning October 1st, 2012 the “Oil Tool Division” of “Blohm + Voss Repair GmbH” will become a separate entity and operate under the name “Blohm + Voss Oil Tools GmbH”. We are making this change in order to compensate for the increase in volume in recent years. However, our Repair and Service oriented …
Gazprom Neft’s Board Reviews Progress of Company Projects
Gazprom Neft’s Board of Directors has carried out a review of the company’s portfolio of production assets. Taking into account estimated performance results for 2012, Gazprom Neft’s consolidated production will increase by nearly 35% compared to 2007. Gazprom Neft’s development strategy up to 2020 enables further expansion of hydrocarbon production to 100 million tonnes. In order to achieve these figures, Gazprom Neft intends …
Max Petroleum: Spins Bit at BSBNE-1
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that it has commenced drilling the BSBNE-1 exploration well on the Besbolek North-East prospect on Block E using Zhanros Drilling’s ZJ-20 rig. Total vertical depth of the well will be approximately 1,580 …
Exillon Energy: ETP IV-2003 Strikes 13m of Pay
Exillon Energy plc, a London Premium listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora and West Siberia, is pleased to announce a drilling update. ETP IV – 2003 Well ETP IV – 2003 was spudded on 2nd May 2012 and drilled and cemented in 118 …
Lukoil 1h 2012 Net Income Reached $4.8 Billion, EBITDA Amounted to $8.8 Billion
LUKOIL has published consolidated US GAAP financial statements for the first half of 2012. The Company’s net income was $4,807 million in the first half of 2012, which is a 29.0% decrease y-o-y. EBITDA was $8,808 million, which is a 17.6% decrease y-o-y. Negative effect of foreign exchange differences had …
Lukoil Board of Directors Sumarizes Company’s Performance in the First Half of 2012
The OAO LUKOIL Board of Directors has reviewed Group’s preliminary results for the first half of 2012 and investment program realization progress in 2012 in Moscow today. The geological exploration completed within the reporting period gave LUKOIL an increase in the reserves of oil in the amount of 11.6 million tons, of gas …