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News // Economy

Australia's $204B Pipeline of O&G Projects Could Slow on Cost Blowouts

Australia can no longer bank on its massive pipeline of committed liquefied natural gas (LNG), gas and petroleum projects, worth $204 billion (AUD 195 billion), to shield the country from the global economic downturn amid cost pressures brought on by factors such as skilled labor shortages and a strong local currency.
29 November 2012 , 10:27Neftegaz.RU12790

Bashneft’s net income increases by 62.3% in the third quarter of 2012

Bashneft Group, which comprises JSOC Bashneft, its subsidiaries and affiliates, has published its unaudited consolidated financial results for the third quarter of 2012 and the nine months ended September 30, 2012 prepared in accordance with International Financial Reporting Standards (IFRS).

20 November 2012 , 10:40Neftegaz.RU11420

Nigeria: Total announces the sale of its participating interest in the offshore OML 138

Total announces that it has finalized an agreement to sell its 20% contractor interest in OML 138 block to a wholly owned subsidiary of China Petrochemical Corporation (Sinopec), for approximately US$2.5 billion in cash (subject to post-closing adjustments). The agreement is subject to approval by the Nigerian authorities.

20 November 2012 , 10:36Neftegaz.RU22320

NOVATEK begins share buyback program

NOVATEK hereby announces that today independent broker has begun to execute purchases of ordinary shares of NOVATEK (the “Shares”) and Global Depositary Receipts representing Shares (the “GDRs”, each GDR representing 10 Shares) on the open market pursuant to the share buyback program (“Program”) approved by the Company’s Board of Directors and announced on 7 June 2012.

19 November 2012 , 09:53Neftegaz.RU11820

NOVATEK acquires 49% of Nortgas

NOVATEK (“NOVATEK” and/or the “Company”) announced today the conclusion of an agreement to acquire a 49% equity stake in ZAO Nortgas (“Nortgas”) from R.E.D.I. HOLDINGS for $1,375 million.  The transaction is expected to close by year-end 2012.
06 November 2012 , 21:37Neftegaz.RU11740

Sabic outlook stable, says Moody's

Moody’s Investors Services has upgraded its baseline credit assessment of Saudi Basic Industries Corporation (SABIC) due to its “sustained improvement in operating performance and financial metrics”.

06 November 2012 , 10:05Neftegaz.RU10950

Indonesian Government Approves Plan of Further Development for Expansion of Tangguh LNG

Indonesia’s Ministry of Energy and Mineral Resources and oil and gas executive agency BPMIGAS have approved in principle the Plan of Further Development (POFD) for the expansion of the BP-operated Tangguh liquefied natural gas (LNG) project in Papua Barat province in eastern Indonesia.

02 November 2012 , 09:48Neftegaz.RU11510

Total announces its interim dividend for the third quarter 2012

Total announces its interim dividend for the third quarter 2012

01 November 2012 , 09:50Neftegaz.RU9770

Pieridae Plans New LNG Export Facility on Canada’s East Coast

Pieridae Energy Canada announced last week that it will develop a liquefied natural gas (LNG) export facility in Goldboro, Nova Scotia, Canada.

31 October 2012 , 10:14Neftegaz.RU10970

NOV announces massive YoY revenue jump of 42%

National Oilwell Varco, Inc. announced revenue of $5.32 billion at the end of the third quarter, a 12% sequential increase or a 42% increase year-on-year.

30 October 2012 , 09:44Neftegaz.RU9120

BP: Macondo Well Integrity Not Compromised

BP has seen no evidence from a recent oil sheen that indicates the integrity of the Macondo well has been comprised, the company said in a response about a U.S.

12 October 2012 , 09:29Neftegaz.RU13120

Chevron Issues Interim Update for Third Quarter 2012

San Ramon, Calif., October 9, 2012 – Chevron Corporation today reported in its interim update that earnings for the third quarter 2012 are expected to be substantially lower than second quarter 2012. 

10 October 2012 , 10:07Neftegaz.RU11960

Figures Demonstrating Results of Our Operations in September and for Nine Months of 2012

Figures Demonstrating Results of Our Operations in September and for Nine Months of 2012

09 October 2012 , 10:08Neftegaz.RU12770

Russia Responds to West Siberia Production Decline with East Siberia Tax Breaks

The Russian government is extending tax breaks for new oilfields in East Siberia in order to compensate for the production decline in West Siberia, the Novosti news agency reported today.

26 September 2012 , 09:32Neftegaz.RU12550

Agenda of the Board of Directors on September 20, 2012

RusHydro announces the agenda of the Board of Directors of RusHydro to be held in absentia on September 20, 2012.

20 September 2012 , 09:38Neftegaz.RU10090

India will repay oil's debt to Iran in August

India will entirely pay its oil debts to Iran by the end of August, S. Qamsari - the National Iranian Oil Company director for international affairs announced in Tehran on Saturday.

21 August 2011 , 12:22Neftegaz.RU15450

Russia to sign WTO accession document with EU next week

Russia and the European Union will sign  a document next week on Russia's accession to the World Trade Organization (WTO), following the results of bilateral negotiations on the issue, EU delegation to Russia head Fernando Valenzuela said on Monday

30 November 2010 , 11:26RIA Novosti14620

Officials begin work on Irish bailout details

European and IMF officials will start thrashing out the details of a three-year bailout package for Ireland on Monday while the government puts the finishing touches to a 15 billion euro ($20.5 billion) austerity plan

22 November 2010 , 09:41Reuters15000

Medvedev orders government to speed up Russia's WTO bid

The remaining issues hampering Russia's accession to the World Trade Organization should be resolved quickly, and without creating obstacles to businesses, Russian President Dmitry Medvedev said on Monday

16 November 2010 , 12:24RIA Novosti14940

G-20 Grinds Toward Currency Accord

Group of 20 leaders endorsed gradual changes in currency values and agreed to develop early-warning indicators to monitor policies that exacerbate trade imbalances and threaten to disrupt the global economy, officials said

12 November 2010 , 08:34Bloomberg12800