News archive - Page 4

Cub Energy Inc. ("Cub" or the "Company") (TSX VENTURE:KUB) comments on the material impact of a temporary resolution of the National Bank of Ukraine ("NBU"), which among other things, prohibits the payment of cross-border dividends through December 2, 2014. On September 22, 2014, the Management Board of the NBU issued Resolution No. 591, to take effect on September 23, 2014.

American ExxonMobil said that because of sanctions collapses almost all the activities in Russia. The company came out of the nine joint projects with "Rosneft". The representative of Exxon Alan Jeffers told RBC that the company complied with the requirement of the authorities to curtail the activities of the United States to the Russian Federation, and by 26 September came out of the majority of joint projects with "Rosneft".

For the public PJSC "Ukrgasdobycha" the first week of the fall was a period of renaissance: from 1 to 5 September the state company received permission to enter the commercial development of hydrocarbon from nine sites. We are talking about Gorobtsovske, Drobyshevske, Evgenievske, West Starover, West Vergunske, Kobzevske, Rassypnyanske condensate fields. And also Valyuhovske and Korobchinske oil and gas zones. Sanctions for the development of these areas the Department of Energy issued on the basis of appropriate treatment "Ukrhazvydobuvannia." 

Production of natural gas in January-August increased by 1.8% to 13.2 billion cubic meters, according to the State Statistics Service of Ukraine. According to the report, production of natural gas in August compared to August 2013 increased by 2.9% - up to 1.7 billion cubic meters, as compared to July of the current year decreased by 0.6%. As UNIAN reported earlier, natural gas production in Ukraine in 2013 increased compared to 2012 by 1.7% - to 20.4 billion cubic meters. 

State Service of Geology and Mineral Resources of Ukraine predicts arrival UAH 1 billion to the state budget by the results of the service in 2014, told reporters chairman Dmitry Kashchuk civil service, the correspondent of RBC-Ukraine. 

In order to adapt to the laws of the Government of the European Union in terms of ensuring transparency and eliminating corruption factors in granting subsoil use Derzhheonadramy Ukraine considering proposal subsoil users, investors, professionals in the field of geology and structural units Derzhheonadr and state geological enterprise in its management, conducted work on drafting amendments to the Order granting special permits for subsoil use that actually teach this procedure in the new edition. 

Kuwait Energy has sold its business in Ukraine. Kuwaiti company had licenses for the development of four Ukrainian oil and gas fields, and led to the production of three of them. The company was looking for a buyer for these assets over a year. Details of the transaction are not known. It is reported that income from the sale amounted to $ 5 million. 

Ukraine over the next seven years can increase gas production to 30 billion cubic meters per year, provided that the country will create a transparent gas market, and the price for industrial enterprises and the public will be the same. This opinion was expressed by Deputy Chairman of the Board of PJSC "Ukrgasdobycha" Vadim Shlenchak in an interview with the TV channel CMB. 

In January-August 2014 Zaporizhia Iron ore sinter ore production decreased by 1%, Krivoy Rog Iron Ore reduced extraction of ore at 3.2%, "Evraz Sukha Balka" - by 0.4%. Zaporizhzhya iron ore (ZZHRK, Dneprorudnoe Zaporozhye region.) In January-August 2014 reduced the production of sintered ore, according to preliminary estimates by 1% compared to the same period in 2013 - up to 3.017 million tons.

Executive Director of one of the largest gold mining companies expects peak production of precious metals in the 2014-2015 period. According to Mr. Chuck Joan (Chuck Jeannes), president and CEO of the Canadian Goldcorp Inc. - A gold mining company with the highest market capitalization in the world in 2014 or in 2015. volume production of the yellow metal reached record levels in the future are unlikely to exceed this level.