Azerbaijani budget to receive additional $600 mln due to new oil prices
The increase in the oil price forecast from $80 to $100 per barrel has increased the forecasted tax revenues from the oil sector by 500 million manat, Finance Minister Samir Sharifov said. The budget will receive the new funds. The forecasted increase will be achieved through increasing tax revenues in the oil sector by 500 million manat and in the non-oil sector by 100 million manat, the minister said. He said the forecasted increase will grow SOFAZ revenues by 3.625 billion manat.
Turkmenistan offers CIS countries lead to raise issue of energy supply at UN General Assembly
Turkmen President Gurbanguly Berdimuhamedov addressed a meeting of the CIS Heads of Governments in Ashgabat with an initiative for the CIS countries to raise the issue of cooperation in the field of energy supplies at UN General Assembly. "Turkmenistan offers to start a dialogue on the transportation of energy resources, security of energy supply in order to make clear principles of our countries in the world markets of energy resources," the president said. He said that it is advisable to voice the initiative of the CIS countries to conduct such a dialogue at the next session of the UN General Assembly. Turkmenistan regularly claims the right to a direct way to Europe recently closed by the supplies through Russian pipelines and Iran. The country obtained the access for the first time to a new alternative thanks to launching a gas pipeline to China in late 2009.
SOCAR to partially publish strategic development programme
The cost of work relating to the SOCAR strategic development programme will reach $26 billion by 2025, SOCAR vice president of strategic development Tofig Gahramanov said. He said the programme includes the work on exploration and exploitation, construction of shipbuilding and carbamide plants, as well as the new Oil, Gas Processing and Petrochemical Complex (OGPC) and other operations. "However the programme is being constantly updated," Gahramanov added. He said that the company will conclude the preparation of a digest version of the programme at 28 pages and publish it soon. "The full version of the programme for universal access is closed," Gahramanov said.
SOCAR: Nabucco project still option to transport Azerbaijani gas to Europe
Nabucco gas pipeline project's original conception is still an option to transport Azerbaijani gas to the European markets, vice-president of State Oil Company of Azerbaijan (SOCAR) Elshad Nasirov told Die Presse. "For us Nabucco is still an option because the proposed alternative Trans Anatolian (TANAP) pipeline through Turkey is so far just a concept," Nasirov said. Last week BP's official representative said that original concept of Nabucco gas pipeline project is no longer considered as a possible export route for Azerbaijani gas.
SOCAR begins drilling new perspective structure in Caspian Sea
The State Oil Company of Azerbaijan (SOCAR) started drilling the first exploratory well in the prospective offshore structure Goshadash, a source at SOCAR said. The source said that the depth of the well will hit 3,500 meters as a result of drilling. "Drilling operations on the Goshadash structure have already begun," the source said. According to the plan, drilling will be carried out for eight months.
Russia to increase oil supplies to Kazakhstan
A preliminary agreement has been reached to increase Russian oil supplies to Kazakhstan during Russian Prime Minister Dmitry Medvedev's visit to Kazakhstan, Kazakh Pavlodar petrochemical plant Director General Shukhrat Danbai said. "A verbal agreement on Russian oil deliveries to Kazakhstan and specifically to the Pavlodar Petrochemical Plant to the amount of 430,000 tons was reached during Russian Prime Minister Dmitry Medvedev's visit to Astana," he said. "This volume of Russian oil is envisaged in June." The plant will be able to produce an adequate volume of petroleum-based fuels for the closing period during scheduled maintenance from June 25-July 25. Traditionally, about 30 percent of fuel consumed in Kazakhstan is supplied from Russia. Earlier, media reported a significant decline in Russian oil supplies to the Pavlodar Petrochemical Plant.
Over 6,000 Chinese specialists to come to Kazakhstan in next 2 years
More than 6,000 Chinese specialists will come to Kazakhstan to implement three projects in oil and gas industry in the next 2 years, a representative of the 'Atameken Union' National Economic Chamber, Zhanar Mambeyeva, said. "To implement such three major projects as construction of Beineu-Shymkent, Kazakhstan - China pipelines and Zhanazhol plant, 6,200 workers and specialists from China will come to Kazakhstan until 2014," Mambeyeva said, speaking at a regular meeting of the Coordinating Council of the KazEnergy Association. She said that according to the letter of the Ministry of Industry and new technologies, arrival of a large number of foreign labor force in excess of the quota established by the previous government to implement another 11 major projects in Kazakhstan is expected. "Because of the shortage of own skilled workforce, we will deal with such situations," she said. Mambeyeva said that today in an expeditious manner it is necessary to resolve the issue of training of Kazakh expert auditors who must assess foreign professionals and workers coming to Kazakhstan for work.
Fitch withdraws rating of large Kazakh oil and gas company
Fitch Ratings has affirmed and simultaneously withdrawn of Kazakh oil and gas company KazMunaiGas Exploration Production's (KMG EP) Issuer Default Ratings (IDR) as follows: Long-term foreign currency IDR: affirmed at 'BBB-'/ Stable Outlook and withdrawn; Long-term local currency IDR: affirmed at 'BBB-'/ Stable Outlook and withdrawn; Short-term foreign currency IDR: affirmed at 'F3' and withdrawn. The ratings are no longer considered by Fitch to be relevant to the agency's coverage.
Azerbaijan to supply oil to Kyrgyzstan by swap-scheme
Azerbaijan will supply crude oil for processing at the refinery of SOCAR (State Oil Company of Azerbaijan) in Kyrgyzstan by swap-scheme, president of the Association of Kyrgyzstan Oil Traders Zhumakadyr Akeneev said. "Refinery will be built in northern Kyrgyzstan, and Azerbaijan will supply two million tons of oil to Kazakhstan in the Caspian Sea in Aktau, Atyrau and Kyrgyzstan, in turn, would receive oil from Kazakhstan via Shymkent pipeline in return," Akeneev said.