Gazprom (OGZPY) just sold nearly a quarter of the Yuzhno Russkoye natural gas field to Germany’s E.On (EONGY). And what did Gazprom get back for this sacrifice? It’s own stock. How did Germany’s largest utility company manage to buy into one of the world’s largest gas fields using nothing but Gazprom stock?
by Stephanie [...]
Buy-recommended BP offers unlevered appreciation potential of 17% to estimated net present value [NPV] of $87 a share, revised up from $80 a share on May 29 when we raised longterm oil price to $66 a barrel from $60. Second quarter results reported on July 24 trace a rising trend in unlevered cash flow (Ebitda) connected primarily to crude oil price.Concentrated 59% on oil production, NPV for the mega cap stock looks slightly high compared to our estimates for some thirty other producers. Resolution of a dispute over Kovykta, a large undeveloped natural gas field in Russia, improves BP’s prospects for profit as half-owner of large Russian producer, TNK-BP.New Chief Executive Tony Hayward also strives to restore operating shortfalls in refining that contributed to higher industry margins, but limited incremental profit for BP. Regardless, the trend in long-term oil price appears to be up despite volatility of short-term quotes. Finally, BP stock also has positive momentum as it trade
U.S. oil major Chevron Corp. won the right to help develop a PetroChina Co. gas field in Sichuan province, people familiar with the situation said, marking a rare inroad by a foreign company into China’s onshore oil and natural-gas production. Chevron’s bid was chosen over those of Statoil ASA of Norway, France’s Total SA and Anglo-Dutch oil giant Royal Dutch Shell PLC, the people said. Read Original Post Here
OAO Gazprom took control of BP Plc's stake in a Siberian deposit with enough natural gas to supply Asia for five years as President Vladimir Putin ends foreign ownership of Russia's biggest energy assets. State-run Gazprom will pay as much as $900 million for the 63 percent of the Kovykta field held by BP's TNK-BP unit and half its regional pipeline unit, and agreed to set up a $3 billion global venture, executives from the three companies said in the Kremlin today. BP's shares closed 0.7 percent higher. ``This is almost a billion dollars more than they might otherwise have gotten,'' said Roland Nash, the head of research at Renaissance Capital investment bank in Moscow. ``All global hydrocarbon companies are in the process of renegotiating their positions in Russia, and the government holds all the trumps.'' Russia, the world's largest energy producer, has used tax claims and environmental inspections to pressure foreign i
OAO Gazprom took control of BP Plc's stake in a Siberian deposit with enough natural gas to supply Asia for five years as President Vladimir Putin ends foreign ownership of Russia's biggest energy assets. State-run Gazprom will pay as much as $900 million for the 63 percent of the Kovykta field held by BP's TNK-BP unit and half its regional pipeline unit, and agreed to set up a $3 billion global venture, executives from the three companies said in the Kremlin today. BP's shares closed 0.7 percent higher. ``This is almost a billion dollars more than they might otherwise have gotten,'' said Roland Nash, the head of research at Renaissance Capital investment bank in Moscow. ``All global hydrocarbon companies are in the process of renegotiating their positions in Russia, and the government holds all the trumps.'' Russia, the world's largest energy producer, has used tax claims and environmental inspections to pressure foreign i
Vladimir Putin turned up the pressure on Britain's biggest company yesterday saying it was intolerable that BP and its local partners were "doing nothing" to meet their obligations by fully developing Kovykta, a huge gas field in Siberia.The president's words will increase fears within BP that the state could try to effectively take over its Russian business by buying up a half share in the TNK-BP joint venture."I would like to stress that the [Kovykta] field has reserves of three trillion cubic metres. To understand its importance for our country, it is equal to almost all reserves of Canada," said Mr Putin in an interview posted on his website, www.kremlin.ru. "But if members of the consortium are doing nothing to meet licence obligations, how much longer do we have to tolerate this?" BP has come under increasing pressure over Kovykta with allegations that the operating company it controls is not meeting the levels of gas supplies it promised. There had been speculation that the st
Vladimir Putin turned up the pressure on Britain's biggest company yesterday saying it was intolerable that BP and its local partners were "doing nothing" to meet their obligations by fully developing Kovykta, a huge gas field in Siberia.The president's words will increase fears within BP that the state could try to effectively take over its Russian business by buying up a half share in the TNK-BP joint venture."I would like to stress that the [Kovykta] field has reserves of three trillion cubic metres. To understand its importance for our country, it is equal to almost all reserves of Canada," said Mr Putin in an interview posted on his website, www.kremlin.ru. "But if members of the consortium are doing nothing to meet licence obligations, how much longer do we have to tolerate this?" BP has come under increasing pressure over Kovykta with allegations that the operating company it controls is not meeting the levels of gas supplies it promised. There had been speculation that the st
The President of the State Oil Company of Azerbaijan (SOCAR), Rovnag Abdullayev, said the field is likely to produce a bit more than 3 billion cubic meters of gas for this year, APA-Economics reports.He said well SDA-2 is on-line producing at present and the third well will be brought on line in the first ten days of May. The teething problems will be removed after the two pre-drilled wells are
Info lowongan peluang lamaran kerja, karir, pekerjaan terbaru (latest info job career vacancy opportunity):Industrial oil & gas field; Marketing Posting date : Saturday, March 10, 2007 Expiry date : Saturday, March 24, 2007 URGENTLY REQUIREDFOR INDUSTRIAL OIL AND GAS FIELDMARKETING1. Male/Female, Min. D3 graduated w/ 1 year experience2. Good communication skill & can work as a teamSend your resume (within 7 day) to :metgun@idola.net.idOnly CV (Max 2 pages with your recent photograph) Get this daily job info via email, click here
