Major events in Caspian countries' oil and gas industry for last week (march 26-31)

SOCAR significantly increases its share in Petkim

Socar Turkey Enerji and SOCAR International DMCC OGG acquired a 10.32-percent stake at the Turkish Petkim Petrochemical Holding. "Some $168.5 million were offered for acquisition of this stake," Anadolu news agency reported. SOCAR and Turkish plastic producing company Naksan Plastik claimed for acquiring a 10.32-percent stake at the Petkim Petrochemical Holding. Now SOCAR Turkey Enerji (Turkish unit of the State Oil Company of Azerbaijan) has a 61.32-percent stake at the Turkish petrochemical complex, while 38.67 percent is in free circulation at the Istanbul Stock Exchange.

High oil prices provide $1 bln of additional revenues to SOFAZ since 2012

Proceeds of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of oil and gas amounted to $4.06 billion since the beginning of 2012, exceeding the projected figure for this period by 30 percent, the fund told Trend. "The income of the oil fund from the sale of oil and gas amounted to$4.06 billion as of March 27, exceeding the projected level for the same period ($3.13 billion) by $930 million, or 30 percent," the fund said. Such increase in revenues is due to increase of oil prices on world markets. The price of oil is defined on the level of $80 per barrel in the budget.

GIOGIE-2012 conference discusses importance of Southern Corridor for energy supply to Europe

The issue of using Southern Corridor for energy supplies to European markets was discussed at the eleventh GIOGIE-2012 international conference on oil, gas, energy and infrastructure held in Tbilisi on March 28-29. Georgia is located at the strategic crossroads of transit of hydrocarbons in the Caspian region, which determines its transit importance, Georgian Oil and Gas Corporation (GOGC) said. During the conference, 150 delegates from 15 countries also considered scenarios in the global energy sector up to 2021, energy projects in Georgia and energy security strategy in Georgia.

Iran becomes biofuel producer

Iran has become one of seven countries in the world to produce biofuel, the IRIB website reports. Currently, only the U.S., Brazil, Sweden, Norway, China and India are biofuel producers. Iran produced a sample of biofuel six months ago and is preparing to start its production. Located in the Khuzestan Province's Haft-Tapeh, a new 10,000 liter capacity biofuel facility will begin operating in the near future. Iran's biofuel, or bioethanol, is to come from the 12 million tons of sugar cane it plants in the south. Bioethanol can be added to petrol to improve vehicle emissions and increase octane.

Kazakhstan to help finance local oil and gas equipment producers

The Kazakh government intends to support domestic producers of oil and gas equipment, by reimbursing 50 per cent of their costs towards obtaining the international certification, board chairman of the national agency for the development of local content NADLoC Dauren Abdyhamitov said at a forum in Astana. He told the media that the Kazakh government had developed and submitted a draft resolution which envisages a preference for domestic producers.

Kazakhstan introduces local content development preferences system

The government of Kazakhstan has introduced a local content development preferences system, NADLoC National Agency for the Development of Local Content Chairman Dauren Abdyhamitov said in Astana. The government introduced the system. Thus, when subsoil companies participate in the procurement, the conditional reduction in prices for domestic producers is 20 percent, while the participation of national companies in public procurement is 30 percent, Abdyhamitov said speaking at the Second Kazakh-British Forum for Partnership Development among Oil and Gas Field Suppliers Service Sector in Astana. As of the current year, all oil and gas projects applying for government support must be examined for local content.

"The government will strictly follow that when developing project documents, interests of domestic producers are taken into account and will involve local producers in the supply of materials and equipment in upcoming projects," he said. As previously reported, the share of Kazakh goods in the oil and gas sector amounts to only nine percent of the total materials and equipment procurement.

Uzbekistan begins gas exports to China

Uzbekistan will start exporting natural gas to China from April 1, Uzbekneftegaz Chairman Shokir Faizullaev said during the signing of an agreement betwween LUKOIL Overseas Uzbekistan Ltd. and a consortium of banks for the Kandym-Khauzak-Shady project. "A part of the volume of Uzbek gas will be supplied to China as of April 1," Faizullaev said. He did not disclose volume of gas to be exported to China this year.

Soldiers were unprepared for war with Azerbaijan - ex-secretary of Armenian Security Council
Soldiers were unprepared for war with Azerbaijan - ex-secretary of Armenian Security Council
Relatives of missing Armenian soldiers continue to hold building of MoD in blockade
Relatives of missing Armenian soldiers continue to hold building of MoD in blockade
Ex-president of Armenia Kocharian files lawsuit against Pashinyan
Ex-president of Armenia Kocharian files lawsuit against Pashinyan
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Belgium to ease COVID-19 restrictions
Instagram launches test where users can choose to see likes
Japan seeks to establish agricultural working groups in Georgia
Azerbaijan's First VP gives instructions in regards to Tunar Bagırov suffering from SMA
Turkey reports over 62,000 COVID-19 cases
UK records another 2,491 coronavirus cases, 38 deaths
Turkmenbashi Oil Refineries opens tender for purchase of metal products
Georgian company eyes building of airdrome in outskirts of Tbilisi
Kazakh-German oil extracting JV opens tender to buy pumps
Iran launches National Productivity Network to connect businesses
Kazakhstan’s subsoil users subsidize domestic market of fuel and lubricants to keep gasoline prices
Production of Sputnik V vaccine launched in Serbia
Armenian gov't didn’t want foreigners to see devastation, their hatred to Azerbaijanis - President Aliyev
Georgia tightens entry rules for Indian visitors due to pandemic
Brent prices above $66/bbl first time from March 18
Uzbek deputy PM, Saudi Arabian minister discuss implementation of joint projects
Azerbaijani Foreign Ministry responds to French ambassador to Armenia
Uzbekistan’s Mubarek gas processing plant launches sodium sulfide production
Azerbaijani PM, Turkish ambassador hold meeting
Ucell launching 5G in Uzbekistan’s Tashkent
Kazakhstan’s Kazgeology company announces number of ongoing investment projects
Working visit of President of Belarus in Azerbaijan ends (PHOTO)
Gold and foreign exchange reserves decrease in Uzbekistan
Ukraine, Azerbaijan may increase potential for using renewable energy
Football Federations of Turkic Speaking States sign Memorandum of Understanding for Cooperation
Georgia, Tajikistan contribute to intensification of cargo transit
Austria, Georgia eye to implement projects in animal husbandry
Iran's Palayesh Parsian Sepehr Company to receive large revenues
Kazakhstan to allocate funds for development of processing industry
Azerbaijan plans to organize transit cargo transportation through Turkey to EU countries
Azerbaijan's State Committee on Property Issues holds new auction on privatization
Germany's economic institutes cut GDP 2021 growth forecast to 3.7%
Indian PM Modi addresses Inaugural Session of Raisina Dialogue
Kazakhstan taking measures to boost drinking water reserves
Ukraine ready to help Azerbaijan to restore liberated territories - Deputy PM
COVID-19 pandemic hinders Georgian Airways to increase number of flights
First train with feed products arrives in Azerbaijan from Turkey via TURKUAZ project
Iran's Energy Exchange announces products to be on sale on April 17
UNDP supports Georgia's adoption of legislation on environmental liability
Export of cotton from Azerbaijan greatly increases from Jan. through Feb. 2021
United Nations concludes field mission to conflict-affected districts of Azerbaijan (PHOTO)
Iran to stop importing catalysts in petrochemical sector
Azerbaijan shares updated info on COVID-19 vaccinated citizens
Bahar Azadi gold coin price rising in Iran
NATO partners appreciate significant contribution that Georgia making to global security
Iran to increase enrichment in Natanz nuclear facility
Volume of gas injected into Iran's Karanj field increases
Demand for Azerbaijani CBA's short-term notes exceeds supply
1Q2021 number of job seekers from Turkey in Kazakhstan, Uzbekistan down
Azerbaijan confirms 2,293 more COVID-19 cases, 2,071 recoveries
Nikola, Iveco and OGE sign preliminary hydrogen distribution agreement
CNPC branch in Turkmenistan opens tender for maintenance of compressors
Kazakhstan eyes reducing flights number to Turkey as COVID-19 cases jump
EU to raise COVID vaccine supplies from Pfizer in Q2 to 250 million doses
Digitalization in Azerbaijan proceeding at highest level among CIS states - IDC
Minsk IT Holding of Belarus develops solution for accepting non-cash payment based on NFC smartphones
2020/2021 season to be less profitable for potato farmers in Georgia
Georgian citizens preparing to leave for Germany for work
Turkish Parliament to discuss violations by Armenia during attacks on Azerbaijan
Turkmen iodine plant releases production data
Transactions through ATMs up in Azerbaijan
Azerbaijan, Ukraine have several areas for interaction, partnership - Deputy PM
Italy supported Azerbaijan in Karabakh war despite pro-Armenian force - expert
Exports of several oil products from Iran shrink
Kazakhstan's preliminary oil extraction data indicates drop - OPEC
Coffee prices up in Georgia
Georgia observing economic recovery - minister
Goldman Sachs profit jumps on record global dealmaking
Iran’s Alborz Province exports fishery products
Azerbaijani citizens can visit dozens of countries without visa - Henley&Partners
Ukrainian deputy PM visits Azerbaijan’s Aghdam district (PHOTO)
Azerbaijan took huge step towards achieving its national dream - President of Belarus
Turkmenistan reveals volume of allocated loans in national currency
Relations between Azerbaijan and Belarus are far from any problems - President Aliyev
1Q2021 volume of electricity generation by Azerbaijani TPPs down
Azerbaijani, Belarus presidents made press statements (PHOTO)
Turkey reveals volume of cargo shipment via local ports from Netherlands
Azerbaijani, Belarusian presidents sign bilateral documents (PHOTO)
Azerbaijani Energy Ministry, IFC sign Memorandum of Understanding on offshore wind energy (PHOTO)
We created new reality by shedding blood, everyone should reckon with us - President Aliyev
Armenia took advantage of Heydar Aliyev’s dismissal from all posts - Azerbaijani president
IEA expects growth in Azerbaijan’s oil output
Our Victory is not only victory of our people, entire Turkic world is proud of it - Azerbaijani president
2M2021 data on cargo shipment via Turkish Mersin port disclosed
Popular Front-Musavat were selling gasoline to Armenia - Azerbaijani president
Armenia - country with bowed head, and it will always be the case - President Aliyev
Certain revengeful forces raising their heads should know that iron fist remains in place - Azerbaijani president
Iran and Russia extend bilateral cooperation
During war, they wanted to introduce sanctions against us - President Aliyev
Russia records over 8,300 daily COVID-19 cases
War Trophy Park in Baku illustrating aggressive nature of Armenia
Value of Russian imports of Turkish ready-made clothes disclosed
EU to borrow around 150 billion euros annually for recovery fund
Azerbaijan’s average compliance with OPEC+ deal up - IEA
US imports of Turkish electrical goods grow in value
Moody’s discloses forecast on growth of Azerbaijan's economy for next 3 years
President Aliyev on transfer of Irevan to Armenia: I condemned this decision, we should not obscure history
I have been saying that second Armenian state will never be created in our lands - Azerbaijani president
Baku Military Trophy Park - message for revenge seekers, says Azerbaijani expert (VIDEO)
I did not yield an inch on Karabakh issue - Azerbaijani president
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