BP and Rosneft Extend Share Swap Deadline
BP announced today that it has agreed with Rosneft to extend the deadline for completing the share swap agreement (previously announced on 14 January) to 16 May 2011. The agreement between the two companies followed the 8 April decision of the arbitral tribunal to allow them to discuss extension of …
Vladimir Milovidov Appointed Vice-President at Rosneft
Vladimir Milovidov, formerly head of Russia’s Federal Financial Markets Service (FFMS), has been appointed Vice-President at Rosneft. Mr. Milovidov will be responsible for innovation development and the introduction of new technologies in business processes. He will oversee the Department of Scientific and Technological Development and Innovation, which replaces the defunct …
Polarcus Limited – Successful placement of convertible bond offering
Polarcus Limited is pleased to announce that, due to overwhelming investor demand, the Company has decided to close the previously announced offering of USD 125 million in principal amount of Senior Secured Convertible Bonds (the “Bonds”). The Bonds to be issued by Polarcus are convertible into common shares with an …
Regular Meeting of the Rosneft Board of Directors
The Board of Directors of Rosneft convened. In attendance were: Igor Sechin – Deputy Prime Minister of the Russian Federation, Chairman of the Board of Directors of Rosneft; Yuri Petrov – Head of the Federal Agency for State Property Management; Nikolai Tokarev – President of Transneft; Andrei Reus – Director-General …
Polarcus Arctic operating procedures qualified by DNV
Polarcus Limited is pleased to announce that the Company has today received a Statement of Qualification from Det Norske Veritas (DNV) to qualify Polarcus’ Arctic operating procedures according to industry best practice and relevant standards. The Statement of Qualification was presented to Polarcus at the 7th Annual Arctic Shipping Summit …
Liebherr extends its range of heavy lift offshore cranes with the CAL 64000 – 1500 Litronic®
The heavy lift offshore crane, type CAL 64000 – 1500 Litronic®, specially developed by Liebherr for the company BELUGA HOCHTIEF Offshore, will be applied from 2012 on the INNOVATION, a special jack-up vessel for the quicker assembly of offshore wind power stations. With this innovative jack-up vessel assembly and maintenance …
Polarcus Limited launches convertible bond offering USD 125 million 2016
Polarcus Limited is pleased to announce that the Company intends to issue USD 125 million in principal amount of Senior Secured Convertible Bonds (the “Bonds”) with a five-year tenure. The purpose of the Bonds is to finance the acquisition and completion of POLARCUS SELMA, an ultra-modern and Arctic-ready 8 streamer …
Tethys Petroleum Limited announces organisational changes
Tethys Petroleum Limited today announced certain organisational changes within the Company. The Company is pleased to announce the appointment of Mark Sarssam as Vice President Petroleum Development, based in the Company’s new operations and technical office in Dubai, UAE. Marks appointment will strengthen the technical department at a time when there …
Gazprom Neft negotiates an interest rate reduction on its $1.5 billion loan
Gazprom Neft has signed an agreement to reduce the interest rate from Libor +2.1% to Libor +1.6% per annum on its $1.5 billion syndicated loan that it secured in 2010. The agreement to provide a five-year $1.5 billion secured loan was concluded on 30 June 2010. The Bank of Tokyo-Mitsubishi …
KMG EP announces acquisition of four contracts for exploration of hydrocarbons
JSC KazMunaiGas Exploration Production today announces agreements reached with the JSC National Company KazMunayGas (“NC KMG”) to acquire four hydrocarbon exploration contracts. As per the agreement, KMG EP acquires the following four contracts: Temir, Teresken, Karaton-Sarkamys and the territory adjacent to Uzen and Karamandybas. Temir and Teresken blocks are located in the …