Integrated Oil & Gas

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Centrais Eletricas Brasileiras SA announces debt renegotiation with Petroleo Brasileiro Petrobras SA

Friday, 12 Dec 2014 07:29am EST

Centrais Eletricas Brasileiras SA:Announces that the Board of Directors of Eletrobras approved on Dec. 11, 2014, the renegotiation of debts of Amazonas Distribuidora de Energia SA, Companhia de Eletricidade do Acre, Centrais Eletricas de Rondonia SA and Boa Vista Energia SA with Petrobras Distribuidora SA and Petroleo Brasileiro SA.The debt is of approximately 8.5 billion Brazilian reais, with base date Dec. 5, 2014, being 3.2 billion reais relating to the supply of gas and the amount of 5.3 billion reais for the supply of oil.Debt will be paid in 120 monthly successive installments, with the first installment due in Feb. 2015, with the balance to be adjusted by Selic rate.The debt is already registered in the financial statements of the aforementioned distribution companies.Eletrobras Board of Directors also approved an agreement relating to the distribution companies Amazonas Energia, Boa Vista, Ceron and Eletroacre, in the amount of approximately, 4.2 billion Brazilian reais, through which the CDE sector state fund recognizes to be debtor of these companies.

ANK Bashneft' OAO approves liquidation of two branches

Tuesday, 25 Nov 2014 10:27am EST

ANK Bashneft' OAO:Approves liquidation of Bashneft'-Bashkirnefteproduct and Bashneft'-Orenburgnefteproduct.

Petroleo Brasileiro Petrobras approves incorporation of its wholly owned subsidiaries

Tuesday, 18 Nov 2014 06:43am EST

Petroleo Brasileiro Petrobras SA:Says Board of Directors approved on Nov. 14 incorporation of company's wholly owned subsidiaries Arembepe Energia S.A. and Energetica Camacari Muricy I S.A.

Gazprom OAO, Centragas to liquidate RosUkrEnergo-Interfax

Friday, 25 Jul 2014 06:36am EDT

Gazprom OAO:Gazprom and Dmitro Firtash's Centragas Holding AG (Austria) have decided to liquidate Switzerland-registered RosUkrEnergo AG (RUE), which for a number of a years served as the intermediary for deliveries of Russian gas to Ukraine and the EU-Interfax.The decision to liquidate RUE was approved on July 10, according to an announcement from the company in the Swiss press.The Gazprom board of directors examined the issue of "coordinating Gazprom's position concerning the vote of its representative in the RUE's executive bodies concerning its liquidation" at a meeting on June 17.RUE was founded on a 50-50 basis by Gazprom and Centragas Holding AG in the summer of 2004.It was the monopoly supplier of natural gas to Ukraine in 2006-2008.

Gazprom OAO announces organizational changes-Interfax

Thursday, 26 Jun 2014 02:06am EDT

Gazprom OAO:Gazprom will transfer 100 percent of shares in CJSC Gazprom Zarubezhneftegaz to the balance sheet of its Dutch subsidiary Gazprom EP International BV, according to a decision approved by the Russian gas giant's board of directors-Interfax.Gazprom said that Gazprom EP International will pay for the asset with its own new shares worth 250.633 million Russian rubles in line with an appraisal by Deloitte & Touche CIS.In addition, the Federal Anti-Monopoly Service said that it has approved LLC Gazprom Gazomotornoye Toplivo's purchase of OJSC Moscow Gas Processing Plant.Gazprom bought 100 percent of shares in the plant last year from Rosneftegaz for 340 million rubles.

Gazprom OAO launches RosUkrEnergo liquidation-Interfax

Thursday, 5 Jun 2014 06:58am EDT

Gazprom OAO:Gazprom is launching the process of liquidating RosUkrEnergo AG, its joint venture with Ukrainian businessman Dmitro Firtash, which acted as intermediary for gas supplies to Ukraine and the European Union for a number of years-Interfax.Gazprom said in a statement that its board of directors would on June 17 agree on "Gazprom's position on voting by its representatives in the governing bodies of RosUkrEnergo AG regarding the liquidation of RosUkrEnergo AG.".

ANK Bashneft' OAO launches reorganization of retail sales business

Wednesday, 28 May 2014 08:00pm EDT

ANK Bashneft' OAO:Launches a program aimed at reorganizing its petroleum products retail sales business.The reorganization involves consolidation of the company’s subsidiaries and branches specializing in retail sales into a single legal entity, LLC Bashneft-Retail Sales.The company was established by renaming an existing subsidiary, LLC Bashneft-Udmurtia, which is registered in Ufa, Bashkortostan.The reorganization, which is planned to complete before the end of the year, will not entail reducing the headcount of retail sales workforce.

Eni SpA says Board of Directors approves new organizational structure

Wednesday, 28 May 2014 12:24pm EDT

Eni SpA:Announces a new organizational structure, which will support the delivery of its strategy based on selective growth in the upstream sector and a turnaround in the mid-downstream segments.Says the new organizational structure replaces the divisional model with an integrated operational structure focused on industrial objectives.Says the activities previously managed within E&P, R&M, Versalis and Syndial will be redistributed amongst Exploration; Development, Operations and Technology; Upstream, and Downstream and Industrial.Says these business units will join the existing business units of Midstream and Retail Gas&Power.Says all staff functions will be centralized, benefitting in terms of efficiency and executional capability.Says the new organizational structure is aimed at streamlining decision-making processes, increasing the focus on core business activities, enhancing key competences, increasing efficiency in the downstream and industrial segment, and maximizing synergies in staff functions.

Statoil outsources support services within HR

Tuesday, 8 Apr 2014 08:00pm EDT

Statoil ASA:Outsources certain tasks within the Human Resources (HR) function.Selects Alexander Mann Solutions as external supplier for HR Recruitment and Zalaris for HR Operations.The suppliers will commence their work during spring.Says the outsourcing will affect 69 positions in Statoil in Norway, in addition to 10 positions internationally.Around 2/3 of affected employees will be offered employment with the new vendors.

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