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Gazprom Neft to Set up First Gas Filling Station under New Brand
An official opening of the first gas filling station under the new brand of Gazprom Neft was held in Omsk. The event marks the launch of a benchmark setting project on establishing a unified network of Gazprom Neft gas filling stations. 230 gas filling complexes are scheduled to be brought in line with the new corporate style by year end 2009.
TNK-BP Maintains Year-on-year Production Growth of 3%; Posts a 34% Rise in Net Income in the Third Quarter
In the third quarter of 2009, TNK-BP continued to improve on the strong performance it reported for the first half of the year. We remained an industry leader in growing oil and gas production, with volumes for the 9 months to September amounting to a 3.0% increase relative to the same period in 2008. This represents 8 continuous quarters of production growth. In addition, TNK-BP benefited from stronger oil and product markets, prudent financial management, and in July, we realized a gain on the sale of our oil field services business of $204 mln. As a result, our net income rose by almost 34% relative to the second quarter.
Eurasia Drilling Company (EDC) Reports Thef of Drill Bits
A thoroughly planned and well prepared sophisticated theft of Company’s assets was committed in October 2009 in one of BKE subsidiaries. Some criminal offenders stole drill bits, very expensive and important component parts used in the process of drilling operations.
MainAbout the journalNewsCNPC refutes Kazakh corruption claims

CNPC refutes Kazakh corruption claims

12.03.2010 12:00

Chinese state-run energy company CNPC said yesterday it complied with applicable laws in its 2003 purchase of a stake in Kazakh oil company, AktobeMunaiGas, after Kazakh financial police said they were examining the deal.

Police said yesterday they were conducting a preliminary investigation into allegations of corruption against President Nursultan Nazarbayev's powerful son-in-law, Timur Kulibayev, related to the 2003 deal between CNPC and Kazakh state company KazMunaiGas.

Today, CNPC said it had breached no laws in the matter.

"The company hereby strongly refutes any such allegations of wrongdoing against the company as groundless and slanderous," Reuters quoted it as saying in a statement published in the Kazakh Vremya daily.

"Further, the company has always maintained high ethical standards of conducting business and strictly complied with applicable laws."

CNPC could not be reached immediately by Reuters for comment.

Mukhtar Ablyazov, an exiled Kazakh banker, last month accused Kulibayev of pocketing part of revenues from the sale of a government stake in AktobeMunaiGas, to CNPC.

Kulibayev, married to Nazarbayev's daughter Dinara, has filed libel suits against several local newspapers over the allegations.

The financial police have until 2 April to decide whether to launch a criminal probe.

CNPC is a major investor in Kazakhstan's oil and gas sector with stakes in six local oil companies as well as a pipeline that delivers 79 million barrels of crude a year to China.

Analysts see Ablyazov's statements as an attack on Kulibayev rather than other businesses and say they highlight an intensifying power struggle within the divided Kazakh elite.

Ablyazov, who lives in exile in Europe, is himself wanted in Kazakhstan on fraud charges which he denies.

Source : Upstreamonline

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DRAFT LAW "ABOUT OIL": GOVERNMENTALIZATION IN LAWBy the way, look
Issue №8, may
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