Mike Cashell has been promoted from chief transmission officer to vice president - Transmission and John Hines has been promoted from chief energy supply officer to vice president – Supply, effective immediately.
Cameron intends to use the net proceeds from the offering to purchase or redeem the company's 2.50% convertible senior notes due 2026 and for general corporate purposes.
TNK-BP participants successfully argued in a Swedish court that the Rosneft deal violated the terms of their joint venture with BP. That led to a court ruling that allowed the Rosneft deal, but only if TNK-BP could participate.
IBM, Gazprom Neft – NTTS and Russian State Gubkin Oil and Gas University, Moscow, Russia, have reported they have signed an agreement to expand their cooperation.
The deal involves a reported $16-billion share-swap transaction and plans to explore the Arctic in what would be the first major equity-linked partnership between a national and international oil company.
OAO NOVATEK, Moscow, has reported that it has executed a call option agreement for the right to purchase the remaining 25.1% stake in Yamal LNG for US $526 million which is valid until July 1, 2012.
KMG EP will acquire US$61.3 million in shares and US$87.8 million in shareholder loans, to be paid back to KMG EP after commercial production starts.