Bashneft: Board of Directors Approves the Reorganization of the Burneftegaz Group
At the meetings held on December 9 and 10, the Board of Directors of PJSOC Bashneft approved the Company’s business plan for 2016 and a number of transactions forming part of the Company’s day-to-day operations. In accordance with a directive from the Government of the Russian Federation, the Board of …
Bashneft: H1 Results – Oil Production Up 12.4%
Oil production in Q2 2015 was 4,831 thousand tonnes, which is by 10.4% more than in Q2 2014. Strong growth of oil production in Q2 2015 was driven by 2,5% increase in production at brownfields — mainly due to commissioning of new wells and highly efficient geological and engineering operations …
Bashneft: 2014 Reserve Replacement Ratio Totals 179%
JSOC Bashneft has announced the results of the latest independent audit of hydrocarbon reserves conducted by Miller and Lents, Ltd. in accordance with the PRMS classification (Petroleum Resources Management System). The auditor has evaluated reserves at 190 oil and gas condensate fields of the Company in the Volga-Urals, West Siberian …
Bashneft: Q3 and 9M Results – Production Up 10% and Net Income Up 39.6%
Bashneft Group released its unaudited consolidated financial statements for the third quarter of 2014 and the nine months ended September 30, 2014 prepared in accordance with International Financial Reporting Standards (IFRS). 3Q2014 vs.2Q 2014: The Group’s revenue from sales decreased by 0.2% to 162,861 million Adjusted EBITDA increased by 2.6% …
Bashneft Boosts IFRS Net Income by 18.5% in 1H 2014
Bashneft Group, which comprises JSOC Bashneft, its subsidiaries and affiliates, released its unaudited consolidated financial statements for the second quarter and the six months ended June 30, 2014 prepared in accordance with International Financial Reporting Standards (IFRS) 2Q 2014 vs. 1Q 2014: The Group’s revenue from sales increased by 11.3% to RUB 163,176 million; …
Bashneft Boosts Oil Production by 11.5% in the Second Quarter of 2014
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 …
Bashneft: Acquires Burneftegaz
Bashneft Group has gained control over a 100% stake in LLC Burneftegaz, a company conducting exploration and producing oil in the Tyumen District. The transaction had been approved by the Federal Antimonopoly Service. LLC Burneftegaz owns the rights to exploration and development of the Sorovskoye field (the Vostochno-Vuemskiy licence area) …