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A regular meeting of the JSC TATNEFT’s Board of Directors chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Kazan (Republic of Tatarstan) on July 25, 2014.The Board of Directors   reviewed the JSC TATNEFT’s budget implementation results of the first half of 2014 and approved the …

Exillon Energy plc , a London listed independent oil producer with assets in two oil-rich regions of Russia, Timan-Pechora (“Exillon TP”) and West Siberia (“Exillon WS”), is pleased to announce unaudited production data for the month of June 2014. ·     Our average daily production[1] was 17,532 bbl/day during the period. ·     Average …

Astana hosted today a working meeting between Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Uzakbai Karabalin, Minister of Oil and Gas of the Republic of Kazakhstan. The parties discussed further cooperation in the gas sector and, in particular, the extension of the long-term agreement till 2038 – on purchase and sale of gas produced from the Karachaganakskoye gas and …

The Ministry of Environment and Urban Planning of Turkey approved the Environmental Impact Assessment (EIA) Report and issued a positive opinion of the EIA results for South Stream’s offshore section in Turkey. The Report contains the assessment of potential environmental impacts caused by the gas pipeline construction, including the impact on the seabed geology, water quality and marine ecology. The …

Weatherford International plc reported net income before charges of $186 million, ($0.24 diluted earnings per share on a non-GAAP basis) on revenues of $3.71 billion for the second quarter of 2014. Revenue increased 8% sequentially excluding the seasonal impact in Canada; the increase was 3% including Canada; Operating income margins improved 280 basis points sequentially to 14% …

ERIELL Group held in Novy Urengoy a first stage of the social and charitable campaign “Friendship Tree” arranged to coincide with the 10th anniversary of its first drilling contract. “Friendship Tree” symbolizes our care of the nature and involvement in life of the communities in the regions of our operations. There was also a good reason to choose this name of the campaign. …

Russian companies, including oil giant Rosneft, may face challenges refinancing $112 billion in debt due to mature over the next four years, a report by Moody’s Investors Service said. Moody’s said there was a very significant bank and bond debt maturity hurdle for Russian companies concentrated among Rosneft and state-controlled gas company Gazprom in 2015. Russian companies are facing tougher …

Bashneft has released its preliminary operating results for the second quarter of 2014 -Average daily production reached a 20-year high of 48.1 thousand tonnes -Production growth rate at brownfields increased to 2.6% -A new asset in Western Siberia, LLC Burneftegaz, accounted for 3.8% of production -88.8% of gasoline output met …

Urals Energy PCL, the independent exploration and production company with operations in Russia, announces that on 21 July 2014 the Moscow arbitration court dismissed the claim of UEN Cyprus Limited in respect of a case to recover the sum of US$41,652,000 from Urals Energy (the “Claim”) on jurisdictional grounds. Further …

JSC TATNEFT continues developing advanced technologies for reservoir pressure maintenance (RPM), aimed at reducing energy costs and increasing production efficiency. With their help, the Company’s professionals ensure protection of injection wells downhole equipment against high pressure and corrosion, as well as provide for all round optimization of the RPM processes.Implementation …