Gulf Oil and Gas accountACCOUNT

Urals Energy Awarded Contract with Petraco Oil Company

Source: www.gulfoilandgas.com 7/3/2014, Location: Asia

Urals Energy PCL, the independent exploration and production company with operations in Russia, announces details of a contract it entered into with Petraco Oil company Limited on 7 August 2012 in relation to the sale of all of the oil produced by the Company at its Arcticneft property (the “Contract”).

The Contract replaced an original contract with Petraco which was entered into on 1 September 2006 and is on broadly comparable terms with that original contract.

The Contract is a master sales contract which governs the overriding terms of the sales and purchase relationship between the Company and Petraco. The Contract includes a formula for calculating the sale price of the oil which is based on Brent Crude oil price plus a premium to reflect the increased quality of the oil from Arcticneft. The exact commercial terms of each tanker shipment are determined yearly by way an addendum to the Contract which details specific quantities, delivery details and the final sales price.

For more information about related Opportunities and Key Players visit Caspian Region Projects

Oil News in Russia >>

China >>  8/12/2019 - China based offshore and subsea solutions company, COOEC Offshore, has formed an alliance with international oilfield services company, Expro. The for...
India >>  8/6/2019 - BP and Reliance Industries Limited (RIL) have agreed to form a new joint venture that will include a retail service station network and aviation fuels...

Russia >>  8/2/2019 - Saipem has reached an agreement with Technip France and NIPIgaspererabotka to participate in the Joint Venture for the realization of the Arctic LNG 2...
China >>  7/29/2019 - TechnipFMC celebrated the first steel cut of the manifolds and subsea structures for CNOOC’s Liuhua 16-2 Oilfields Development Project recently. The m...

Russia >>  7/23/2019 - TechnipFMC has been awarded a major Engineering, Procurement and Construction (EPC) contract by Novatek and its partners for the Arctic LNG 2 project ...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Russia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.