Kazakh oil company KazMunaiGas Exploration Production (KMG EP) produced 6.08 million tons of oil in H1 of 2016 including its stakes in subsidiaries and joint ventures, up by 0.7% YoY. KMG EP’s subsidiary Ozenmunaigas (OMG) produced 2.78 million tons, up by 2%, KMG EP’s subsidiary Embamunaigas (EMG) produced 1.41 million tons, also up by 2%…
Many oil producing companies working in Kazakhstan observed negative financial result in 2015, according to Vice Minister of Energy Asset Magauov. As per an analysis, 36 companies out of 61 had a negative financial result, he noted. As the Vice Minister noted, drill footage dropped from 2,500 running meters to 1,500 running meters in 2015.…
The European Commission will allocate 3.5 million euros of financial aid for the project for construction of TANAP via which Azerbaijani gas will be delivered to Turkey and then to Europe, said the message from TANAP. These funds will be used to support commercial activities and the integrated facility management system. “The European Commission considered…
Transit of natural gas via Ukrainian gas transport system fell to 136 million cubic meters on July 26, and this is 30% less than average daily transit on July 1 through July 22 (around 190 million cubic meters a day), according to Ukrtransgaz’s data. Transit started falling on July 23 when it was 172 million…
Public joint-stock company Kyivenergo (Kyiv) saw a 38% rise in net loss in January-June YoY, climbing to 752.21 million UAH. According to a company report, its net revenue in H1 2016 grew by 20.1% YoY, to 10.87 billion UAH, and gross loss totaled 165.86 million UAH compared to 295.08 million UAH of gross profit in…
Public joint-stock company Ukrnafta, Ukraine’s largest oil producer, saw 10.09 million UAH of net loss in January-June compared to 3.91 billion UAH of net profit a year ago. The company said in a report that its net revenue in H1 2016 decreased by 42.8% YoY, or by 6.648 billion UAH, to 8.89 billion UAH, and…
A winner of the competition was selected to become investor for the implementation of the Agreement on the distribution of hydrocarbons extracted from the Yuzovsky field, the press service of the state-owned enterprise Nadra Ukrainy has reported, which is a stakeholder of Nadra Yuzovsky PLC, founded to implement the project of finding and mining under…