Oil and Gas Industry Latest News

19.04.2014 Rosneft Rushes to Repay Loans

How heavy is Rosneft’s debt burden resulting from last year’s acquisition of TNK-BP? How long will it take Russia’s largest oil company to pay off the gigantic loans? Would Rosneft be able to service them without additional financial instruments?

04.04.2014 China’s Sinopec sells $5 billion worth of bonds

China Petrochemical Corp., parent of Asia’s largest oil refiner, raised $5 billion from the biggest offering of dollar-denominated notes by an Asian issuer in more than a decade, Bloomberg reported on April 3.

18.03.2014 Russia increases oil export duty

Russian oil export duty will rise $2.6, or 0.68 percent month-on-month on April 1, 2014, a leading expert at the tax and customs and tariff policy department of the Russian Finance Ministry Alexander Sakovich told Itar-Tass on March 17.

17.03.2014 UBS cuts Russia’s Gazprom, Novatek ADR target prices

UBS has reduced target prices for Gazprom’s American Depositary Receipts (ADRs) by 25% to U.S.

03.03.2014 Russia & Ukraine: Economy & Market Implications

Risk has ratcheted up. It is a statement of the obvious to say that the situation in Ukraine has just become a whole lot more uncertain. A great has already been written about the events of this weekend and every possible scenario has been proposed and discussed.

28.02.2014 Lukoil borrows $200mn for Shah Deniz

Lukoil Overseas has signed an agreement to draw the second $200mn tranche of a loan from the EBRD for developing the gas condensate field Shah Deniz in Azerbaijan. The $380mn loan was attracted for five years at LIBOR plus 1.5%.

24.02.2014 Natural gas futures up to 5-year high

Natural gas jumped to the highest price in five years as forecasters warned of more freezing U.S. weather, Bloomberg reported on February 24. Hedge funds increased bullish bets on the heating fuel as inventories dropped to the lowest in a decade.

20.02.2014 Norway’s Det Norske mulls share or asset sales to fund Sverdrup

Det Norske Oljeselskap ASA (DETNOR), part-owner of Norway’s biggest offshore oil discovery in decades, will consider selling assets or new shares to fund the project, Bloomberg reported on February 19.

18.02.2014 Gazprom starts trading in US depositary receipts at Moscow Exchange

Trading in American Depositary Receipts (ADRs) representing Gazprom's shares started on February 17 at the Moscow Exchange, Gazprom’s press office has said.

28.01.2014 Natural gas price rebounds in New York

Natural gas rose in New York, rebounding from the biggest drop in almost nine months, Bloomberg reported on January 28.