Petroplus gets first offers for German plant April 2, 2012 SEVERAL interested parties have submitted offers for insolvent refiner Petroplus’ Ingolstadt plant in Germany, a spokesman for the refinery’s administrator said yesterday. “We’ve received non-binding offers and are now organising plant visits,” said the spokesman for administrator Jaffe Rechtsanwaelte Insolvenzverwalter. “We hope to be able to conclude negotiations in the second quarter,” he added. The [...]
TNK-BP inks $1bn Brazil deal October 31, 2011 BRAZILIAN oil start-up HRT said yesterday it signed a $1bn (£619.4m) agreement with BP’s Anglo-Russian oil joint venture TNK-BP for the sale of a stake in oil fields in the Amazon. HRT said it would receive the funds over two years for the sale of a 45 per cent stake in 21 exploratory blocks located [...]
Glencore float fuels wealth of UK’s super rich April 29, 2012 THE wealth of Britain’s richest people, including a series of investors in Glencore, jumped by nearly five per cent to a record £414bn last year, according to new research. The combined assets of the 1,000 most affluent people rose 4.7 per cent, according to the Sunday Times Rich List, despite the nation’s plunge back into [...]
TNK-BP management calls for suit against BP October 25, 2011 TNK-BP, BP’s joint venture in Russia, has said it generated $2.3bn (£1.4bn) in net profit in the third quarter, 57 per cent up on the same period in 2010, as output and the price of oil have risen. Its management have caused fresh headaches for BP chief executive Bob Dudley, though, by calling on the [...]
TNK-BP management calls for suit against BP October 25, 2011 TNK-BP, BP’s joint venture in Russia, has said it generated $2.3bn (£1.4bn) in net profit in the third quarter, 57 per cent up on the same period in 2010, as output and the price of oil have risen. Its management have caused fresh headaches for BP chief executive Bob Dudley, though, by calling on the [...]
BP investors raise Russian claim September 21, 2011 Minority shareholders in TNK-BP, the Russian oil firm half-owned by BP, have more than doubled their claim for damages over the firm’s attempt to ally with Rosneft to 154.3bn roubles (£3.16bn). The litigation led to BP’s Moscow office being searched by bailiffs last month. BP said the “amount of alleged damages is unproven and baseless”.
Heritage Oil boosts Russian output August 16, 2011 Production has more than trebled at one of Heritage Oil’s Russian fields, as results from drilling and testing one well exceeded expectations. The oil and gas company announced that production at the Zapadno Chumpasskoye Field increased from 431 barrels of oil per day (bopd) to the current level of 1,600 bopd. Well 363 is now [...]
Heritage Oil boosts Russian output August 16, 2011 Production has more than trebled at one of Heritage Oil’s Russian fields, as results from drilling and testing one well exceeded expectations. The oil and gas company announced that production at the Zapadno Chumpasskoye Field increased from 431 barrels of oil per day (bopd) to the current level of 1,600 bopd. Well 363 is now [...]
Time for Russia 2.0: Putin’s return promises an economic revolution April 29, 2012 THE Western European view of Russia has not moved with developments in the country since the crash of 1990. To the Western media, Russia remains a kleptocracy run by the mafia. It is seen as secretive, corrupt, plutocratic, hugely unequal and unjust. Yet the challenges that Russia faces are not unique in the world of [...]
DAVID CAMERON PERFORMS BONUS U-TURN AT TOP BUSINESS SUMMIT February 23, 2012 TO MANSION House for a royal visit from HRH the Prince of Wales and Prime Minister David Cameron, who were all there for the Business in the Community summit. Cameron used his speech to claim that big business was a “powerful force for social progress” and to launch a scathing attack on “anti-business snobbery”. But [...]