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Caspian Oil & Gas Trends: July 2019 (1)

16 September 2019
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Summary of main events

Topic of the issue

Oil supplies via Baku-Novorossiysk pipeline resuming
Azerbaijan supports extension of deal on oil production cut
Trans Adriatic Pipeline launches market test
Oil market to see tightening in supply and demand balance in 2H2019
Money from oil sale should transfer to INSTEX
Cost of TANAP turns out to be below $7B
EU gas output down by 8%
TANAP ready for gas supplies to Europe from July 1
TAP to facilitate Albania’s objective of becoming gas hub in Western Balkans
OPEC+ to decide on extension of oil output cut deal on July 1-2 in Vienna
Oil jumps on Saudi, Russia support for supply cuts
OPEC set for oil cut extension if Iran endorses pact
OPEC+ countries decide to extend oil output cut deal
OPEC has done the job, but a lot of uncertainties still remain
Exploded vessel in Petkim port doesn’t belong to SOCAR
OPEC decision not positive for global economy?
LPG imports decrease in Turkey
EU net gas imports up by 15%
Oil prices climb as OPEC extends cuts, but demand worries persist
OPEC decision: What should US customers be worried about?
Azerbaijan almost doubles gas exports
Share of natural gas in electricity production slightly down in Turkey
Azerbaijan increases production of electricity
Oil prices rise after U.S. crude stockpile drop
Oil prices steady amid U.S. stockpile drop, OPEC supply cut extension
Oil market to have tight supply-demand balance for remainder of 2019
Commissioning of new wells at ACG, Shah Deniz continues
Energean enters into conditional sale & purchase agreement to acquire Edison assets
EBRD, DEG to allocate 5M euros each for Azerbaijan’s leading supermarket chain
Oil prices edge down, pressured by U.S. supply
Oil prices inch up on Iran tensions and OPEC cuts
Can IGB construction be hindered by environmental regulations?
Brent crude inches up, U.S. oil falls on weak economic data
Oldest platform on ACG block in Azerbaijan shows stable production rates
Oil demand can face more structural slowdown from escalated US-China trade dispute
Flat oil prices can lead to keeping output cuts indefinitely
Crude oil prices fall 1% on fears for global economy
Commercial gas production in Azerbaijan up by 40%
Oil prices rise on Iran tensions, OPEC output cuts
Analyst: OPEC+ would like to stay around price target of US$70 per barrel
Oil steadies as demand concern counters Middle East tensions
Analyst talks on extension of OPEC+ deal
Mud logging unit arrives at Azerbaijan’s Jafarli field
TAP of great importance in energy diversification – Italian deputy FM
Analyst: Azerbaijan fulfills its cut obligations within OPEC+ deal
Methanol production growing in Azerbaijan
Azerbaijan’s Akkord talks on participation in Baku Oil Refinery reconstruction project
ARAMCO awards $18 billion in contracts to boost output capacity at Marjan, Berri oilfields
3 oil output areas in US reach record production level
Expert: First of all, cheapest gas to flow via TAP
Oil gains on U.S. inventory drawdown, Gulf of Mexico storm
Gas demand to rise in all three important EU gas markets
Eurogas works on making sure right frameworks put in place for investments in gas sector
Global FLNG capacity to more than double in next 3 years
Azerbaijan continues to fulfill its obligations to OPEC+
European Commission downgrades oil price forecasts by 7%
Azerbaijan accounts for over 96% of crude oil import cost to Ukraine
Energy efficiency can help to save more than half a trillion US dollars
US sees record natgas consumption and production
Oil gains after U.S. stockpiles drop, rigs evacuated
Total reveals volume of greenhouse gas emissions from its projects
Azerbaijan Energy Regulatory Agency reveals number of implemented projects
TAP expects 100% of pipes in Greece, Albania to be in ground by late 2019
U.S. natural gas production, export to increase in coming years: EIA
MEDEF president: French companies interested in co-op with Azerbaijan
Non-OPEC oil supply expected to grow at slower pace in 2019
OPEC downgrades oil demand growth forecasts
Demand for OPEC crude for 2019 revised down
OPEC reveals oil output forecasts for Azerbaijan
Oil at six-week high on Gulf of Mexico storm, Iran tensions
EIA reveals forecasts for Azerbaijan’s petroleum output
Why OPEC crude output reached lowest level since 2014?
Non-OPEC petroleum and other liquid fuels output to rise by 2.3 mb/d
EIA lowers global oil demand growth forecast for 2019
Brent prices to average $67/b in H2 2019
Public procurement for selection of IGB leading insurer extended
Volume of gas transportation via TANAP reaches 2 bcm
Global oil demand growth is set to accelerate in H2 2019
Azerbaijan’s Azneftmash to build two new plants in Baku
Shah Deniz 2 recognized with Academy’s Major Project Award
TAP managing director: Gas to play central role in energy mix in coming years

Companies

Will new ownership of Topaz Energy affect its service in Azerbaijan?
Gazprom to increase purchases of natural gas in Central Asia
Equinor preparing to start drilling at Azerbaijani field
Zenith Energy’s proved and probable oil reserves down in Azerbaijan
BP reveals volume of expenditures on Azerbaijani projects in five-year period
BP achieves significant GHG emission reductions in Azerbaijan in 2018
Greenfields Petroleum extends senior secured debt payments
Equinor eyes to start seismic survey in Azerbaijan
BP eyes to start drilling first exploration well at SWAP by year-end
Equinor expects no geological complications during drilling on new area in Azerbaijan
BP to conduct seismic survey on block D230
Grant Thornton to prepare report on transparency in Azerbaijan’s extractive industry
BP Azerbaijan on drilling operations at South-West Gobustan field
BP to submit commercial proposal to Government of Azerbaijan
BP says reports about its application to take part in TANAP operating company not true
OPEC+ decision to extend output cut should at least act as floor under oil price
Equinor preparing to start drilling at Azerbaijani field
Zenith Energy installs Top Drive System at Azerbaijan’s Jafarli field
Azerbaijan’s Azneftmash talks on new direction for drilling equipment exports
BP to submit proposals on alternative energy to Azerbaijani gov’t

SOCAR

SOCAR expands gas stations network in Romania
SOCAR, UNDP discuss future plans
After repair, SOCAR proceeds to export its oil via Baku-Novorossiysk pipeline
SOCAR and Baker Hughes, a GE company, hold meeting in Baku
SOCAR talks on progress of modernization of Dede Gorgud drilling rig
SOCAR received about 1B AZN from state budget in 2018
Exploration & development of Umid-Babek field on agenda of SOCAR
French company eyes participation in SOCAR projects in Azerbaijan

Alternative energy sources

Azerbaijan's Energy Ministry waits for gov't permit to implement new solar energy project

Iran

Iran designs new hub in Petrochemical Special Economic Zone
Iran reconstructs refinery in Iraq despite sanctions
Oil rises on Iran's new nuclear threats
Iran to develop three oil fields
Iranian government to assign shares of 6 oil refineries to private sector
Iran, Turkmenistan jointly extract 63M cubic meters of gas from Gonbadli gas field
Iran's Kharg Petrochemical complex continues exports despite US sanctions
Iran to put heavy oil up for sale at IRENEX
Minister: 54% of Iran’s non-oil exports accounts for neighboring countries
Iran trying to reduce fuel smuggled out of country
Iran may sell its oil online, says expert
Products of Iran’s Esfahan oil refinery to be put up for sale at IRENEX
600 tons of ethane sent daily within Phase 19 of Iran’s SPGC to Asaloyeh district
Iran reveals its petrochemical production volume
Expert: Iran can increase oil exports
Iran to repair oil tankers in country
Iran to launch first phase of Jask Oil Terminal
Iran's South Pars Gas Company to overhaul 9th refinery at phase 12
Money from oil sale should transfer to INSTEX
NIOPDC recommends Iranians to take necessary measures on the eve of new fuel system
OPEC set for oil cut extension if Iran endorses pact
Decline rate in Iran’s oil output to slow in H2 2019
Iran to continue oil exports under any circumstances – Foreign Minister
Iran sets up another platform at South Pars field's 14th phase

Kazakhstan

Eurasian Development Bank to participate in gas supply of Kazakhstan's regions
Kazakhstan and French Total agree on cooperation extension
KazMunayGas to develop new oil field together with major Italian company
Fuel spill accident takes place in Kazakhstan
Kazakhstan to launch new "green" project
Kazakh pipeline construction 50% done
OPEC+ agreement won't affect Kazakhstan - official
Construction work on Tengiz field of Kazakhstan suspended
Uzbekistan intends to transfer in trust two power plants to Kazakh company
OPEC discloses forecasts for oil supply in Kazakhstan

Turkmenistan

Turkmenistan awaits start of construction of Pakistani section of TAPI gas pipeline
Turkmenistan intensifies work to develop single mechanism to supply natural fuel to Europe
Turkmenistan counts on foreign investment in fuel and energy sphere
Iran, Turkmenistan jointly extract 63M cubic meters of gas from Gonbadli gas field
Central Asian countries to create united electricity market
Eurasia Drilling Company sends one more rig to Turkmenistan
Turkmenistan to hold international oil, gas forum
Gazprom signs five-year contract with Turkmenistan
Turkmenistan delivers first batch of gasoline to Afghanistan
Turkmenistan develops new major gas chemical investment projects
Turkmenistan' first plant for production of gasoline from gas opens export prospects - President's Adviser
US, UK buy petroleum products in Turkmenistan
Gazprom to increase purchases of natural gas in Central Asia
Turkmenistan reveals geological survey results
Turkmenistan’s Ashgabatgas reinforces call for economical use of natural gas

Uzbekistan

Uzbekistan plans to build three coal-fired power plants
Uzbekistan intends to transfer in trust two power plants to Kazakh company
Rosatom talks about second stage of construction of NPP in Uzbekistan
Uzbekistan reforms oil, gas sector
Uzbekistan, China launch new cascade of small HPP
General Electric, Grupo Cobra to modernize HPP in Uzbekistan
Uzbekneftegaz, CNPC are working on 4th branch of Uzbekistan-China gas pipeline
Uzbekistan approves second PSA with Gazprom
UAE company may privatize Uzbek TPP
Rosatom begins second stage of construction of NPP in Uzbekistan
Uzbekistan raises gas inflow from well in Ustyurt
Uzbekistan plans to build two more NPP units
Uzbekistan receives first gas flow from Aralyk field
New gas field discovered in Uzbekistan
Uzbekistan plans to build three coal-fired power plants
Uzbekistan to create national brand of gas stations
Uzbekneftegaz to place up to 49% of its shares as part of IPO
Uzbekistan discloses gas production data for first time
Current hydrocarbon reserves Uzbekistan is enough for 20-30 years

Georgia

How can Georgia resolve problem of electricity deficit?
Georgia launches new project on biogas production
Georgia seeks to to minimize electricity imports
Georgian Pension Agency may invest in energy sector
Demand for electricity in Georgia to reach 21-22 billion kW/h by 2030
Georgian Oil and Gas Corporation net profit fell by 27%
Georgia expands gas supply network
European Energy Charter head appreciates reforms in Georgia's energy sector
Georgia increases fuel import from Russia sixfold
Georgia mulls liberalization of electricity market with European Energy Charter