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Caspian Oil & Gas Trends: June 2019 (1)

20 September 2019
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Summary of main events

Topic of the issue

Azerbaijan's transit revenues growing
When will Serbia get chance to access Azerbaijani gas?
Turkey reveals volume of crude oil imports from Azerbaijan
Monoethylene glycol phase of petrochemical plant in southern Iran 58% ready
Azerbaijan increases gas exports to Turkey by more than 30%
Executive director: IGB is fundamental for development of gas market in Bulgaria
Fitch: Gas production in Azerbaijan to grow
Oil prices extend drop as trade wars stoke global economic fears
STAR refinery to purchase Siberian, Iraqi oil
Ilham Aliyev: Oil and gas produced from Azeri-Chirag-Gunashli fields will serve Azerbaijani people and state for many years to come
President Aliyev: Energy security issues are issues of national security of countries
European Commission: Completion of TANAP’s first phase strengthened Turkey’s role in fostering energy security in EU
Azerbaijan’s President: I believe that in coming years we will be producing energy resources from new fields
Bulgaria gets first acquisition of LNG from US
Oil falls over 3% on fresh trade worries, posts biggest monthly drop in six months
TANAP still has some room for additional cost savings
TANAP will need 7 compressor stations to reach 31 bcm capacity
Azerbaijan begins construction of Central-Eastern Azeri offshore platform
TANAP is able to deliver 16 bcm of gas right away: consortium head
Turkmenistan invites CIS countries to join in TAPI gas pipeline project
TANAP’s remaining section to be linefilled in coming weeks
Investments in Azerbaijan’s Azeri-Chirag-Gunashli field exceed $36B, more to be invested
Gas distribution network in Turkey may be integrated with supplies via Southern Gas Corridor
TANAP delivers gas to Turkey, prepares to ship to Europe
Oil drops 1%, set for biggest monthly fall since November as trade wars spreads
Azeri-Chirag-Gunashli remains leading oil producer in Azerbaijan
Volume of oil products sales from Star Refinery announced
TAP to help Albania’s Vlora power plant to get access to gas
Azerbaijan’s natgas exports up by 28%
Azerbaijan’s crude oil exports down by 2.2% in 2018
Tax audits in Azerbaijan down, tax payments increase
World oil demand up by 1.5% year-on-year
Saudi crude oil use for power generation drops to lowest amount since 2009
Barkindo: OPEC has vested interest in continued growth of US
Salyan Oil reveals output volumes onshore Azerbaijan
OPEC+ crude output cuts likely to be sustained at least at 0.9 mb/d
Oil prices unlikely to rise in near term
TAP completes shallow water pipelay in Albania
Oil prices extend gains, move further away from five-month lows
Azerbaijan's transit revenues growing
Azerbaijan may potentially export RON-92 fuel
Oil rises on supply cuts, but weak economy holds market back
Oil prices rise on likelihood of ongoing OPEC+ supply cuts
Oil steadies as demand concerns counter OPEC cuts
Oil edges above $62 as OPEC cuts counter growth concerns
Azerbaijan increases oil production in May, fulfills OPEC+ obligations
Azerbaijan to take part in International Energy Charter Forum in Albania
Hikmet Hajiyev: Southern Gas Corridor to contribute to Europe’s energy security
Azerbaijani energy minister, German Bundestag delegation mull regional issues
TANAP marks one year since commissioning, pumps nearly 800 mcb of gas
Oil prices fall on weaker demand growth, surprise gain in U.S. crude stocks
Azerbaijan increases LNG sales
Azerbaijan’s natgas exports up by 28%

Companies

SOCAR, Tekfen sign memorandum on construction of new plant in Azerbaijan
SOCAR, KazMunaiGas to conduct joint geological exploration
Murat LeCompte: Feasibility studies underway for SOCAR-BP petrochemical complex
Time announced for FID on new BP-SOCAR petrochemical complex in Turkey
Total files lawsuit against Antipinsky Oil Refinery which SOCAR eyes to acquire

SOCAR

SOCAR expects to distribute 4 bcm of gas to consumers in Turkey from 2020
SOCAR plans to list its Turkish subsidiary on stock exchanges
SOCAR reduces funds placed in Int’l Bank of Azerbaijan
Azerbaijan's SOCAR-AQS completes drilling of another well at Western Absheron field
SOCAR increases drilling volume
SOCAR, Sberbank create joint venture for oil refining at Antipinsky Oil Refinery
SOCAR’s net profit declines, operating profit up
SOCAR changes equity share in SOCAR Polymer Investments
SOCAR discloses amount of revenues from activity in foreign countries
SOCAR has no plans to import Iranian oil for Star Refinery
SOCAR aims to expand exploration work onshore, offshore
SOCAR holding audit, considering to buy part of shares of Russia’s Antipinsky Oil Refinery
Azerbaijan's State Oil Company SOCAR to commission new filling stations in 2019
SOCAR increases revenues from oil and gas sale
SOCAR: Baku oil refinery modernized by over 30%
SOCAR talks progress of Baku Oil Refinery's modernization

Iran

Iran discloses volume of oil products exported from ports of Hormozgan province
Iran again fails to sell gas condensates via IRENEX
Monoethylene glycol phase of petrochemical plant in southern Iran 58% ready
Iran among TOP 3 petroleum exporters to Turkey
Iran looks to grow exports through diverse petrochemical products
Iran reviews plan of transportation of oil products through railroads to Yazd province
Iran to increase production capacity in South Pars phases 15,16 by 2021
Iranian Drilling Company conducts drilling operations at 10 oil wells within 2 months
2 oil wells put into operation in Iran’s Sarvestan and Saadatabad oil fields
Iranian oil minister discloses four companies' priorities
Iran to put gas condensates up for sale at IRENEX
Minister: Iran ready to provide path for energy transit for Tajikistan
Iran Chamber of Commerce intends to promote oil offering at IRENEX
SOCAR has no plans to import Iranian oil for Star Refinery
Iran’s natgas exports down year-on-year
Iran’s oil exports down by 13%, still in Top 10
Iran private sector has no role in oil offering at energy exchange
Iranian official: Iran's share in Japanese oil market is 4.7%
Iran's energy minister: We had 40 years to quit oil dependency
Iran to put light crude oil up for sale at IRENEX
Iran petrochemical industry to counter US sanctions
Will US sanctions against Iran petrochemical industry work?
Production of Iran’s South Pars Gas Complex to increase
Iranian official calls US sanctions on petrochemical industry a political show
Iran joining BTC pipeline unlikely, says official

Kazakhstan

More settlements of Kazakhstan receive gas supply
Revenues of KazMunayGas reach over $4,670M
National oil company of Kazakhstan increases oil refining
Oil extraction at Kazakhstan's Kashagan field breaks new record
Revenues of KazMunayGas reach over $4,670M
Kazakh national oil company increases oil transportation volume
Kazakhstan aims to have nearly 120 renewable energy sources by 2021
Oil production volume decreases in Kazakhstan
Solar plant construction cancelled in Kazakhstan

Turkmenistan

Ashgabat, Baku appreciate significance of Trans-Caspian high-speed information highway
Turkey reveals volume of jet fuel exports to Turkmenistan
Germany, Singapore buy oil products in Turkmenistan
Turkmenistan sees slight increase in natgas exports
ARETI discusses joint projects in fuel and energy sector in Turkmenistan
Russia announces transit forecast for Turkmen oil
Turkmenistan’s Ashgabatgas calls for economical use of natural gas

Uzbekistan

Tajikistan to supply electricity to Uzbekistan
Uzbekistan changes tax policy for renewable energy manufacturers
Uzbekistan to transfer state share of Fergana refinery to Indonesian company
Uzbekistan, French company establish JV in energy field
Lukoil increases gas production in Uzbekistan by 33%

Georgia

Georgia builts new sections of trunk gas pipelines
International Bank for Reconstruction and Development to support Georgia's energy industry