Russia's largest oil producer, Rosneft, agreed to buy oil services firm Targin from the Sistema conglomerate for up to 4.1 billion roubles (US$67.4 million), Rosneft said on Dec. 27 as it seeks to expand its own oil service business.
Rosneft said the number of drilling rigs will increase by 19% following the deal. (US$1 = 60.8200 roubles)
Recommended Reading
ConocoPhillips EVP of Strategy, Sustainability, Technology Macklon to Retire
2024-02-16 - Dominic Macklon, who began his career with Conoco in 1991, is set to retire ConocoPhillips May 1.
Canadian Natural Resources Boosting Production in Oil Sands
2024-03-04 - Canadian Natural Resources will increase its quarterly dividend following record production volumes in the quarter.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.
Exxon, Chevron Tapping Permian for Output Growth in ‘24
2024-02-02 - Exxon Mobil and Chevron plan to tap West Texas and New Mexico for oil and gas production growth in 2024, the U.S. majors reported in their latest earnings.