Integrated Oil & Gas

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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.

Sociedad Comercial del Plata to acquire Del Plata Propiedades

Thursday, 13 Mar 2014 05:17pm EDT

Sociedad Comercial del Plata SA:To acquire its wholly owned subsidiary Del Plata Propiedades SA.Further details were not provided.

Petroleo Brasileiro Petrobras SA to incorporate three wholly-owned subsidiaries

Thursday, 27 Feb 2014 06:34am EST

Petroleo Brasileiro Petrobras SA:Says it has approved proposals for incorporation of its wholly-owned subsidiaries, Termoacu SA, Termoceara Ltda and Companhia Locadora de Equipamentos Petroliferos - CLEP.

Gazprom neft' OAO completes reorganization of sales business-Interfax

Monday, 17 Feb 2014 03:26am EST

Gazprom neft' OAO:Gazprom Neft has completed the reorganization of its sales business, a process that began last year-Interfax.The company said in a statement that the division Gazpromneft-Corporate Sales, which manages fuel sales to legal entities that fuel automobiles using Gazprom Neft cards at filling stations, has gone into operation.The reorganization of its retail business was done earlier with the unification of oil-product providers into three clusters: a central one in St. Petersburg; one in the Urals; and a Siberian one in Novosibirsk.The main goal of the project was increasing the efficiency of sales and corporate guidance, particularly with the simplification and strengthening of sales structure and the separation of the financial results of its wholesale and retail businesses.

ANK Bashneft' OAO plans reorganization to eliminate cross-ownership-Interfax

Friday, 13 Dec 2013 08:06am EST

ANK Bashneft' OAO:Directors at Bashneft will meet on Dec. 17 to discuss convoking an extraordinary shareholders meeting to vote on the company's reorganization by eliminating cross-ownership via Sistema-Invest-Interfax.Bashneft said in a statement that the board would recommend voting in favor of reorganization by merging with CJSC Bashneft-Invest, which will be set up as the result of a spin-off from Sistema-Invest; and to approve a reduction in Bashneft's charter capital.Charter capital might be reduced by canceling shares in the company that will end up on Bashneft-Invest's books as the result of shareholders in Bashneft and AFK Sistema splitting up the assets of Sistema-Invest.Sistema-Invest owns 25.24 pct of Bashneft while AFK Sistema owns 51 pct and Bashneft owns 49 pct of Sistema-Invest.AFKS Sistema is the biggest shareholder in Bashneft with 87.6 pct voting shares.Bashneft told Interfax that the purpose of the reorganization is to eliminate the cross-ownership of shares in Bashneft and to complete the process of disposing of non-core businesses.It is anticipated that the board of directors will on Dec. 17 name the price at which ordinary and preferred shares will be purchased from shareholders dissenting against or abstaining from voting on the reorganization.Preferred shares may also be cancelled and charter capital reduced.


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