Outlook for Offshore Exploration in Russia up to 2025
Irina Chmeleva In recent months, the discussions about the impact of foreign companies and technology on Russian oil production have intensified at all levels. State officials, ranging from the President to various Ministers, have highlighted the need to boost domestic production of equipment in order to substitute imports. Given that …
Lukoil – May Cut 2015 CAPEX Due to Political Volatility
Lukoil, Russia’s second-largest oil producer, plans to cut its capital spending because of economic and political volatility, Vice President Leonid Fedun said on Friday. Lukoil has not been directly affected by Western sanctions against Russia over its stance towards Ukraine but is suffering from a spike in international borrowing rates …
Lukoil: 1H Results – 5 New Fields Discovered, APG Up to 89.2%
The OAO LUKOIL BoD has reviewed the preliminary results for the first half of 2014, and budget and investment program realization progress in 2014 in Moscow today. As a result of geological exploration carried out by the Company 5 oil fields were discovered in the first half of 2014, namely Svetloozerskoye, Razdolnoye, Kulikovskoye …
Lukoil: Q2 Figures Boosted by West Qurna-2
LUKOIL has published consolidated US GAAP financial statements for the second quarter of 2014. The Company’s net income in the second quarter of 2014 amounted to $2,389 million, which is a 13.5% y-o-y increase. EBITDA (earnings before interest, taxation, depreciation and amortization) in the second quarter of 2014 increased by …
EDC: 1H Results – Revenues Down, Income Down, Horizontal and Lukoil Drilling Metres Up
Eurasia Drilling Company Limited, the leading onshore & offshore drilling service provider in the CIS, today releases its Interim Consolidated Financial Results, prepared in accordance with US GAAP, for the six month period ended June 30, 2014. The reviewed 2014 Interim Consolidated Financial Statements for the six months ended June …
Lukoil Completes Dividend Payment Based on 2013 Financial Performance
By virtue of the decision made at the Annual General Meeting of OAO LUKOIL of June 26, 2014, the company has fulfilled its dividend-payment obligations based on the 2013 financial performance. In view of the new dividend payment procedure applicable in the Russian Federation from January 01, 2014, the funds were transferred …
LUKOIL Continues Optimization Of Asset Structure In Central Europe
OAO LUKOIL has signed contracts with MOL Plc. and Norm Benzinkút Kft on the sale of assets in the Czech Republic, Slovakia and Hungary. Slovnaft Česká Republica, Spol. S.R.O. (a subsidiary of MOL Plc.) will buy from LUKOIL a network of 44 gas-filling stations located in the Czech Republic’s territory. …
LUKOIL And TMK Group Sign Cooperation Agreement
ОАО LUKOIL and the TMK Group have signed a 2014-2016 Scientific and Technical Cooperation Program in Moscow. Under the agreement, LUKOIL will provide organizational support and consulting to identify major scientific and technical problems in the area of field-infrastructure development, while TMK will conduct surveys and implement pilot projects to solve the problems. The …
Tenaris Awarded Karachaganak Contract and to Open Premium Threading Facility
Tenaris has entered into a long-term agreement with KPO (Karachaganak Petroleum Operating B.V.) for the supply of OCTG, TenarisHydril premium connections and field services for the oil and gas company’s developments in the Karachaganak field, which occupies more than 280 square kilometers of northwest Kazakhstan and has reserves of more than 2.4 billion …
Lukoil Joins Shelf Project In Cameroon
LUKOIL has acquired a 37.5-percent interest from the British company Bowleven Plc in the development project of the Etinde site at Cameroon’s shelf as part of a production-sharing agreement (PSA). The transaction will be completed upon approval on the part of Bowleven Plc’s shareholders and the government of Cameroon. The Etinde site …