Oil and Gas Industry Latest News

19.03.2014 Russia’s Sibur earnings down in 2013

Sibur, an integrated gas processing and petrochemicals company, on March 18 published its operational and financial results for the year ended 31 December 2013 in accordance with International Financial Reporting Standards (IFRS).

18.03.2014 Russia’s Novatek resumes share buyback program

Novatek announced on March 17 that pursuant to the Company’s buyback program originally announced on 7 June 2012 and subsequently extended, during the period from 11 through 14 March 2014, 2 476 250 ordinary shares (including in a form of Global Depositary Receipts) were

13.03.2014 Russia's Surgutneftegas oil output in Yakutia up 3.6% year on year in January-February

In January-February 2014, Surgutneftegas produced 9.902 million tonnes of crude oil, Surgutneftegas press service reported on March 12.

06.03.2014 Devon increases cash dividend for common stockholders

Devon Energy Corporation (NYSE:DVN) on March 5 announced that its board of directors has approved a 9 percent increase to its quarterly cash dividend on the company’s common stock from $0.22 per share to $0.24 per share.

05.03.2014 BP’s separate firm to manage US Lower 48 onshore oil and gas assets

BP on March 4 announced its intention to establish a separate business to manage its onshore oil and gas assets in the US Lower 48.

04.03.2014 Russia’s Slavneft profit soars in 2013

Russia’s Slavneft net profit rose by 410% to almost 18bn rubles last year, according to Russian accounting standards. At the same time, revenue fell to 10.5bn rubles, while gross profit fell by almost one third to slightly more than 2bn rubles.

04.03.2014 Russia’s Novatek board approves dividend payment

Novatek (the “Company”) on March 3 announced the results of its Board of Directors (the “Board”) meeting.

03.03.2014 Russia’s Gazprom Neft earnings up in 2013

JSC Gazprom Neft has published its consolidated financial results, in accordance with International Financial Reporting Standards for FY 2013, Gazprom Neft’s press office said on February 28.

28.02.2014 Gazprom Neft boosts 2P reserves replacement

Gazprom Neft’s total proved and probable (2P) hydrocarbon reserves (including the Company’s share in joint ventures) as of 31 December 2013 amounted to 2.29 billion tonnes of oil equivalent, according to the SPE-PRMS international standards, a 7.7% increase on the end of

27.02.2014 Russia’s Tatneft board discusses strategy

A regular meeting of the Board of Directors of Tatneft, chaired by R.N. Minnikhanov, President of the Republic of Tatarstan, was held in Almetyevsk (Republic of Tatarstan), on February 26, 2014, Tatneft’s press service has said.