The Federal Antimonopoly Service of the Russian Federation is against cancelling the excessive export duties on oil products, because this may cause the leap in prices at the Russian domestic market, the head of FAS Igor Artemyev told the journalists. “We do not favor this initiative, we believe that with the existing production volume, even […]

On Tuesday the largest Russian private oil company OAO LUKOIL signed the contract on purchasing from OAO Bashneft for 4.768 billion rubles a share of 25.1% in OOO Bashneft-Polyus, which is the owner of the license to use a site of subsurface resources of federal significance including Trebs and Titov oil deposits, the joint press-release […]

OAO Tatneft is planning to ‘replicate’ its production of solid metal cord truck tires in Nizhnekamsk. This was declared by the director of the managing company Tatneft-Neftekhim Zagit Sharafeev. According to him, the new production capacities are planned to be placed at the site of OOO Nizhnekamsk Solid Steel Chord Tire Factory which at present […]

OAO Slavneft is planning to spend over .2 billion American dollars on the execution of technical re-equipment program of its major oil refining plant – OAO Slavneft-Yaroslavnefteorgsintez (YANOS) in the period of 2011-2014.This is declared in the press-release of Slavneft. In 2011 the volume of Slavneft capital investment into the modernization of YANOS comprised 3102 […]

OAO Transneft counts on China to settle its debt to Russia for oil deliveries to the Peoples Republic of China within 2-3 weeks. This was declared by the company’s president Nickolay Tokarev. He also specified that at present China’s debt comprises 75 million American dollars (the total amount of the debt to Transneft and OAO […]

The net profit of OAO Samaranefteproduct (a subdivision of Rosneft) according to the Russian Accounting Standards for the nine months of 2011 comprised 499.431 million rubles which corresponds to the same period of 2010. In the third quarter of 2011 the net profit of the enterprise according to the Russian Accounting Standards comprised 349.003 million […]

OAO Bashneft established OOO Power Supply Company (Ufa). Bashneft owns 100% chares of the newly created company, the company statement says. As the press-service of Bashneft explains, the new company has been established with the aim of reducing the Bashneft Group expenditure on buying electricity for its own needs.

In September the oil production capacity rose to make up 10.3 barrels a day – more than a fifth of the total volume of the produced oil falls to the share of the state concern Rosneft. It must be mentioned that in Saudi Arabia which takes the second place after Russia in ‘black gold’ production […]

The subsidiary of TNK_BP Buguruslanneft has won an auction bidding to buy a Novo-Zhedrinskiy hydrocarbon area in the Orenburg Region. This information was published by the Federal Agency on Subsoil Use. The right to use the subsoil resources of the area cost the company 138.45 million rubles, with the reserved price being 106.5 million rubles. […]

Integra Group has closed the deal on acquisition of SIAM Company. According to the press-service of the company the value of the transaction is 2.2 billion rubles (71 million dollars), it was financed by means of Integra Group capital base as well as by means of available borrowed funds.