ROSNEFT BUYS MULTI-FRACKING
A company of the Rosneft Group and a subsidiary of Trican Well Service Ltd. signed a framework agreement and ancillary documents, pursuant to which a Rosneft subsidiary agreed to acquire a 100% shareholding in Trican Well Service LLC, which provides high-quality pressure pumping services focused on enhancement of production within the conventional oil and gas industry in Russia. The purchaser has already obtained the necessary approval of the Federal Antimonopoly Service of the Russian Federation. The parties plan to close the transaction on August 20, 2015.
The implementation of the signed agreements will allow Rosneft to increase economical and production efficiency in the area oil recovery increase, downhole operations and wells' cementing. Increasing efficiency of its core-business is a key priority for Rosneft, outlined in its long-term development program. The implementation of this strategy will allow the Company to maintain record-low operational costs leadership between leading oil and gas companies.
Moreover the reached agreements will allow Rosneft to boost its expertise in the oilfield service area, due to access to high-quality expertise in the area of production stimulation, well completion and downhole operations on conventional oilfields.
Trican Well Service Ltd. is an international oilfield service company headquartered in Calgary, province of Alberta, Canada. Trican Well Service Ltd. offered oilfield services in Russia through its subsidiary Trican Well Service LLC and in Kazakhstan through ТОО "Trican Well Service Kazakhstan Limited".
Rosneft plans to actively develop in-house production stimulation service on the basis of the acquisition of Trican Well Service LLC asset, which will lead to a significant increase of financial transparency and contracting of drilling services. A significant constituent of the implementation of this strategy is the in-house production capabilities expansion (in the area of fracturing, coil tubing and well cementing).
|January, 19, 12:45:00|
|January, 19, 12:40:00|
|January, 19, 12:35:00|
|January, 19, 12:30:00|
|January, 19, 12:25:00|
|January, 19, 12:20:00|
PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.
AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.
WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.
REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.