Alliance Oil Reserve Replacement 154% in 2011
Alliance Oil Company Ltd’s total oil reserves increased by 1.8% to 996.9 million barrels (978.8 million barrels). The Company replaced 153.6% of the total 2011 oil production by adding net proved and probable (2P) oil reserves of 9.6 million barrels (net of 17.9 million barrels produced in 2011) through exploration and development as well as reserve revisions. The Kolvinskoye …
Alliance Oil Financial Results and Outlook August 2011
Dear Shareholders, During the second quarter of 2011, the market conditions for crude oil further improved. In turn, the oil products market faced higher costs and new fiscal initiatives. The price of Urals increased by more than 12% quarter-on-quarter. The Russian Ruble strengthened against the US Dollar. Demand for oil …
Alliance Oil Operational update for the second quarter and first half of 2011
Alliance Oil Company’s total oil production for the second quarter of 2011 amounted to 3.8 mbbl compared to 3.8 mbbl in the second quarter of 2010. Preliminary refining volumes at the Khabarovsk refinery amounted to 6.9 mbbl in the second quarter of 2011 compared to 6.0 mbbl in the second …