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Caspian Oil & Gas Trends: March 2019 (2)

18 September 2019
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Summary of main events

Topic of the issue

Fitch affirms Eurobond rating of Southern Gas Corridor
Azerbaijan significantly increases oil exports
Azerbaijan suspends pumping oil through Baku-Novorossiysk
OPEC calls on oil producers to continue to support oil market stability in 2019
Global gas demand growth rate up by 2.4% since beginning of the century
Brent price could be 10-40% lower in coming years
Croatia intensifying its efforts to realize Ionian-Adriatic Pipeline
Azerbaijan slightly reduces oil transportation via BTC
Owner’s engineer named for Interconnector Greece-Bulgaria
President Aliyev: Geography of countries planning to join SGC projects growing
Azerbaijan - most constructive member of OPEC +
Saudi minister: World oil reserves may decrease before next OPEC+ meeting
Azerbaijan keeps increasing gas transportation via Baku-Tbilisi-Erzurum
Russia’s LUKOIL eyes to expand its presence in Azerbaijan
Minister: Venezuela looking for new oil markets
Khalid Al-Falih: Azerbaijan an example for other countries participating in OPEC+ deal
Azerbaijan to improve performance on oil production cuts under OPEC+
Next meeting of OPEC+ countries may be rescheduled
Saudi minister: New countries to join OPEC+ monitoring committee
OPEC+ countries fulfill their obligations to reduce oil production by 90% in February
MP: OPEC meeting in Baku speaks of Azerbaijan’s importance on world stage
OPEC/non-OPEC Joint Ministerial Monitoring Committee meeting underway in Baku
President Aliyev receives UAE minister of energy and industry
Decision to extend OPEC+ deal may be made in June - Saudi minister
Saudi minister: Main goal is to normalize global oil reserves
Russia committed to implementation of OPEC+ deal - official
Saudi energy minister: Confidence in oil market returns gradually
Al-Falih: OPEC+ agreement implementation to exceed 100 percent in March
Azerbaijan's output of oil products up
Star Refinery to export $500M worth products per year
New oil discoveries can bring in 16 million b/d
Global gas demand expanded at its fastest rate since 2010
TAP project more than 85.7% complete
Hungary interested in joining Southern Gas Corridor
Star refinery in Turkey's Izmir working a full capacity
Oil set for biggest quarterly rise since 2009 amid OPEC cuts, sanctions
TAP launches sourcing process for its Pipeline Integrity Management System
Fluxys Belgium sees decline in net profits

Companies

Shell updates on proved reserves for 2018
Shell sees significant growth in income
Exxonmobil, Chevron can keep their shares in ACG
Zenith Energy to maximize output from 34 active production wells onshore Azerbaijan
Zenith Energy to begin mobilization of new rig onshore Azerbaijan soon
BP establishes $100M fund for projects for emissions reductions
Equinor reveals time of starting drilling at Azerbaijan’s Karabakh field
BP reveals net oil and gas output in Azerbaijan
BP Azerbaijan employees assigned to high caliber int’l roles
Eurogas: Gas infrastructure to remain crucial for successful decarbonization of economy

SOCAR

SOCAR to get 100,000 tons of Urals crude from Surgutneftegaz
Azerbaijan’s SOCAR talks on progress of TANAP project
SOCAR to get 80,000 tons of Urals crude from Surgutneftegaz
SOCAR talks on possibility of geological exploration in Aral Sea water area
Ministry: SOCAR is welcome to take part in construction of Albanian gas infrastructure

Alternative energy sources

Azerbaijan, Saudi Arabia to cooperate in alternative energy
Azerbaijan to establish export of solar panels to Europe, Middle East
EBRD to help organize renewable energy auctions in Azerbaijan
Montenegro looks to co-op with Azerbaijan in renewable energy
Wind power generation up in Azerbaijan

Iran

Iran South Pars refineries 99% reliable: official
Zanganeh: Iran to extract 750M cbm of gas from South Pars field
Iran's power industry to improve domestic production: minister
How should Iran fight fuel smuggling?
First products of phases 22-24 of South Pars Gas Complex sent for export
Iran starts construction of 6 power plants in Bushehr
Investigation into bribery allegations carried out at Iranian Oil Ministry
Iran transports gas to Shif Island of Bushehr Province, feeds gas to 1800 families
Iran to add 4400 megawatts to its power grid capacity
Iran’s NIOC: initial price of 1 barrel of oil to be $61.73 per barrel
Iran's gas condensate export from South Pars up by 15%
Iran officially inaugurates new phases of South Pars gas field
Iran's non-oil exports hit $40B in revenues
Iran to inaugurate petrochemical units
Europe promised to buy 1 mln barrels of Iran's oil through INSTEX - expert
Production of petrochemical complexes in western Iran increases
Iran to inaugurate petrochemical units
Iran maintains gas supply despite heavy rainfall, floods
Iran breaks record in gasoline production
Iran reveals product output at refineries during floods

Kazakhstan

OPEC forecasts Kazakhstan’s oil output to grow slightly
Kazakhstan, Uzbekistan ratify agreement in energy field
Lukoil shows interest in development of another oil block in Kazakhstan
Uzbekistan eyes to import Kazakh oil despite suspended construction of Jizzakh refinery
Kazakhstan to reduce oil production by 300,000 barrels per day
Risen Energy Spain to help Kazakhstan develop solar energy
Kazakhstan to annually increase gas production
3 more sources for Southern Gas Corridor; which has more chances?
Risen Energy Spain to help Kazakhstan develop solar energy
Kazakhstan to annually increase gas production
Kazakhstan recovering from big oil field fire, vice-minister arrives at scene

Turkmenistan

Turkmenistan to modernize oil refineries
Turkmenistan intends to offer Japan to invest in TAPI project
Turkmenistan’s largest field receives new industrial gas inflow
Bahraini petrochemical company signs agreements with Turkmenistan
Kyrgyzstan intends to accelerate project of Turkmen gas transit to China
Turkmenistan invites Bahrain to participate in TAPI gas pipeline project
UK, Turkey buy oil products in Turkmenistan
Turkmenistan to modernize oil refineries
Russian oil company resumes operations in Turkmenistan
Turkmenistan, Japan to discuss joint oil and gas investment projects
Turkmenistan's gas exports soar
UAE-based company invests heavily to develop Turkmen shelf of Caspian Sea
Russia ready to supply pipes for gas projects in Turkmenistan
Turkmenistan continues talks with Russian Gazprom on resuming gas supplies
Turkmen Oil, ARETI sign memorandum of understanding
Petronas mulls partnership with Turkmenistan regarding Caspian gas fields

Uzbekistan

Uzbekistan increases car output, reduces gasoline production in 2019
Uzbekistan explores possibility of developing shale gas, oil
Lukoil to start exploration on three investment blocks in Uzbekistan
Uzbekistan suspends construction of oil refinery in Jizzak region
Kazakhstan, Uzbekistan ratify agreement in energy field
Uzbekneftegaz plans to open new oil fields in 2019
Uzbekneftegaz, Gazprom JV plan to produce 1.5 bcm of gas by end of 2019
Kyrgyzstan intends to accelerate project of Turkmen gas transit to China
Uzbekistan may reduce price of gas almost twice
International consortium invests $5.2B in oil, gas development in Uzbekistan
US company increases natural gas production in Uzbekistan
Uzbekneftegaz plans to open new oil fields in 2019
Uzbekneftegaz, Gazprom JV plan to produce 1.5 bcm of gas by end of 2019
Russian Tatneft plans to implement a number of projects in Uzbekistan
OPEC provides loan to Uzbekistan for $54M
International engineering company may establish joint venture in Uzbekistan
Uzbekistan launches new hydropower plant
Uzbekistan reduces price of gas for local boilers
Uzbekistan produces over 150 K tons of gasoline in 2019