Major events in Caspian countries' oil and gas industry for last week (Oct. 24-28)
Gasoline prices up in Uzbekistan
The Uzbekneftegaz National Holding Company of Uzbekistan announced about the increase of the retail prices for gasoline starting from October 23.
“The retail price for AI-80 car fuel has been set at 2,800 soums, the price for AI-91, AI-92, AI-93 car fuel has been set at 3,000 soums, and the price for AI-95 car fuel has been established at 3,300 soums (UZS) per liter since Oct. 23, 2016,” said the message posted on the official website of Uzbekneftegaz. As a result, retail gasoline prices in Uzbekistan increased by more than 30 percent. Uzbekneftegaz reported that the new prices will be the same for all gas filling stations. Single gasoline prices have been set to fight the inflated prices at the gas filling stations and the resale of car fuel. According to the independent experts, analyzing the trends on the energy market, an increase in gasoline prices is mainly stipulated by reducing oil production volumes in the country and the need to buy large volumes of crude oil to overcome periodically appearing gasoline shortage.
New gas reserves discovered in Turkmenistan
New natural gas reserves have been found at the Halkabat site in the eastern Turkmenistan, Oil and Gas Complex of Turkmenistan said in a report. Turkmenistan’s Turkmengeology State Corporation drilled an exploration well with the projected depth of 4,000 meters after carrying out 2D seismic investigations.
As a result, a commercial inflow of gas was obtained from the Middle Jurassic strata at a depth of 3,070-3,064 meters, reads the report.