Lukoil: Sells Caspian Investments Resources to Sinopec for USD 1,087 million
PJSC LUKOIL closed a deal to sell its 50% share in Caspian Investments Resources Ltd. to China-based Sinopec. The required permits from the state authorities of the Republic of Kazakhstan were acquired in late July 2015. According to the contract LUKOIL receives USD 1,087 million. Caspian Investments Resources Ltd. has …
LukOIL: Produces Five Millionth Tonnes of Oil at the Yuri Korchagin Caspian Field
PJSC LUKOIL passed a 5 million tonnes (38.6 million barrels) mark in oil production at the Yuri Korchagin field in the Caspian Sea. Production at the field was launched in April 2010. Its proven oil reserves are 113 million barrels. In 2014, the field produced 1.5 million tonnes (11.3 million …
Gazprom Agrees To Buy LukOIL’s Gas
Today Vagit Alekperov, OAO LUKOIL President, and Alexey Miller, OAO GAZPROM Chairman of the Board, held a working meeting at the Saint Petersburg International Economic Forum. The parties discussed the implementation of the General Agreement on strategic partnership and, in particular, on the purchase of gas produced by LUKOIL. The …
Gazprom Agrees To Buy LukOIL's Gas
Today Vagit Alekperov, OAO LUKOIL President, and Alexey Miller, OAO GAZPROM Chairman of the Board, held a working meeting at the Saint Petersburg International Economic Forum. The parties discussed the implementation of the General Agreement on strategic partnership and, in particular, on the purchase of gas produced by LUKOIL. The …
LukOIL: Q1 Results – Net Income Down 60%, Lifting Costs Down 19%
LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2015. The Company’s net income in the first quarter of 2015 amounted to $690 million, which is a 60.2% y-o-y decrease. EBITDA (earnings before interest, taxation, depreciation and amortization) in the first quarter of 2015 decreased by …
Lukoil President Meets With Kazakhstan Leaders
LUKOIL President Vagit Alekperov visited Astana to attend the 28th Plenary Session of the Foreign Investors’ Council under the President of Kazakhstan. As part of his visit, Mr. Alekperov met with Kazakhstan Prime Minister Karim Masimov, executives from Kazakshtan’s Ministry of Energy and KazMunayGas, the national oil company of Kazakhstan. …
Lukoil: LUKOIL-Permnefteorgsintez Starts Second Production Unit for APG
Vagit Alekperov, OAO LUKOIL President, Mikhail Babich, Presidential Plenipotentiary Envoy to the Volga Federal District, and Viktor Basargin, Governor of Perm Territory, took part in the ceremonial commissioning of the second production line of a unit, NTKR-2, for low-temperature condensation and fractionation of associated petroleum gas (APG), at OAO LUKOIL-Permnefteorgsintez, …
LUKOIL Starts Production Tests At Facilities For Kandym Early Gas Project In Uzbekistan
LUKOIL has begun production tests of two Gas Treatment Plants (GTPs) at the Northern Shady Site and the Kuvachi-Alat Field in Uzbekistan’s Bukhara Region as part of the Kandym Early Gas Project, which is being implemented together with National Holding Company Uzbekneftegaz. The GTPs have a combined annual capacity of …
RPI: Offshore Field Development in Russia: Are the Sanctions an Opportunity for Russian Companies to Fill the Void?
Vadim Kravets In mid-February 2015, the third round of EU sanctions targted a number of Russian officials and nine new companies were introduced. Previously, in late summer and early autumn 2014, the U.S., EU, Japan and Canada introduced, in two rounds, sanctions againstw certain individuals and sectors of Russia’s economy …
Russian Offshore to Open Up?
Ask most people about Russian oil and gas production, and they’re likely to bring up the two giants: Rosneft and Gazprom. But private companies are possibly in a position to see their roles change in the country’s oil landscape, as Rosemary Griffin describes in this week’s Oilgram News column, Regulation …