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Caspian Oil & Gas Trends: August 2019 (1)

18 September 2019
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Summary of main events

Topic of the issue

Lari’s devaluation can cause oil products' price hikes
Sangachal terminal increases Shah Deniz gas exports
Azeri-Chirag-Gunashli completed 7 oil producer wells
Baku-Tbilisi-Ceyhan downs oil exports
Azerbaijani finance minister: MIGA loan not needed for SGC
European Commission approves public support for Croatian LNG terminal
99% of welding completed along TAP's onshore route
Romania will be involved in further enlargement of Southern Gas Corridor
IGB to close all pending issues in September and start construction
Caspian Pipeline Consortium's crude oil handling up
About 700 oil workers evacuated due to strong wind in Baku and Absheron Peninsula
Demand for gasoline exceeds supply at IRENEX
Over 20,000 ships passed through Dardanelles in 2Q2019
Oil prices drop as U.S.-China trade war fuels growth concerns
Pankin: BSTDB expanding financing in Azerbaijan
JV for TAP maintenance services in Albania to rent building
Turkey cuts LPG imports from Russia by almost 80%
Turkey won't stop exploration at oil&gas fields off coast of northern Cyprus
Progress in full-scale development of Shah Deniz nears 93%
Southern Gas Corridor CJSC completes 97% of financing of Azerbaijan’s share in project
Oil prices could break out of mid-$60/b range
Azerbaijan increases gas exports to Turkey
Turkey won't stop exploration at oil&gas fields off coast of northern Cyprus
Share of natural gas in electricity production slightly down in Turkey
Details of drilling operations at Azerbaijani big offshore block disclosed
CBI Governor: Iranian importers to pay customs duties after release of goods
Stadler reveals expected time of delivering new coaches for BTK
SOFAZ reveals revenues from ACG, Shah Deniz
Net sales of Petkim up by 40%
Azerbaijan significantly increases gas consumption
Oil jumps on expectations producers may cut supply after 4% slump
Azerbaijan increases gas exports to Turkey
Oil dives nearly 5% to seven-month low on surprise U.S. stock build, trade war
Azerbaijan increases gas exports to Turkey
OPEC reduces oil production in July
OPEC oil production fell by 2 mb/d
Forecasts for global oil demand growth revised down by 0.1 mb/d
TANAP project receives Green World Awards 2019
TAP completes excavation work for microtunnel in Italy
Oil dips amid trade worries, but expectations of more OPEC cuts support
Chernomortransneft JSC to reconstruct Grozny-Baku oil pipeline
Azerbaijan discloses oil production volumes for July 2019
Over 220,000 tons of methanol to be produced in Azerbaijan in 2019

Companies

BP talks on plans for near future
BP increases operating expenditure on ACG
BP ups output from Shah Deniz
Wood Mac: Closure of Strait of Hormuz would lead to rapid depletion of existing stocks
BP reveals volume of capex on South Caucasus Pipeline
Snam reveals volume of equity investments in TAP AG
Zenith Energy eyes to increase oil output to 1,000 bpd onshore Azerbaijan
Snam increases volume of gas injected to Italian network
Zenith Energy issues 47,812,500 common shares
Snam investments expected to be around 1B euros in 2019
Snam’s technical investments up by almost 17%
Wärtsilä starts introducing new developments, technologies to Azerbaijan
BP Azerbaijan operates normally, but according to special regulations due to strong winds
Saipem to establish spool-base in US Gulf of Mexico
Zenith Energy reduces interest rate for two trade finance facilities in Azerbaijan
Shell considers solar panels to power Singapore refinery site
Turan Drilling & Engineering launches operations within contract with BP
Equinor's power and gas trading unit expands to the United States
Net sales of Petkim up by 40%
Petkim increases output
Zenith Energy starts drilling operations at C-37 well onshore Azerbaijan
French Suez to be engaged in water treatment in Azerbaijan’s oil & gas industry

SOCAR

SOCAR Energy Ukraine reveals volume of natgas sales
SOCAR AQS launches drilling of new well at Azerbaijani field
SOCAR Methanol’s output exceeds 710,000 tons
Azerbaijan’s SOCAR Polymer to significantly increase non-oil exports
SOCAR discloses volumes of oil export from Novorossiysk
SOCAR announces methanol production volumes

Alternative energy sources

Iran commissions solar power plant in Isfahan Province
Iran begins construction of another thermal power plant in East Azerbaijan Province

Iran

Member of Iran’s ICCIMA: IRENEX’s rules impede private sector’s active participation in trade
Demand for gasoline exceeds supply at IRENEX
Why Iranian oil fails to sell at energy exchange?
Iran revives use of fuel cards, looks to stop fuel smuggling
Iran signs oil exploration contracts with knowledge-based companies
Iran to offer 2 million barrels of condensate cargo at energy exchange
Iran's gasoline production reaches 74 million liters per day
Wood Mac: Closure of Strait of Hormuz would lead to rapid depletion of existing stocks
Enterprises established in Iran’s West Azerbaijan province through foreign investments
Iran to commission 40 large-scale gas projects
Iran to merge two oil companies with NIGC
Iran’s Gachsaran Oil and Gas Production Company saves funds via reverse engineering
Iranian MP: Iran should decrease oil prices for better oil sales
Iran's East Oil and Gas Company’s production increases
Iranian company wins tender for operation at South Pars Gas Complex
MP: Iran never stops to export oil
Iran to put up crude oil for sale at Energy Exchange soon
Iran to increase petrochemical production to 2.5 million tons
Iran reveals volume of natural gas production

Kazakhstan

Caspian Pipeline Consortium's crude oil handling up
Major solar park construction launched in Kazakhstan
Major oil refinery in Kazakhstan exceeds planned volume
Price of oil up, of petrol and fuel oil down in Kazakhstan
Major oil refinery put into operation in Kazakhstan
Kazakhstan eyes new 'green' projects
Refinery construction launched in Kazakhstan
Kazakh farmers switch to renewable energy
Major oil company to clean up oil-contaminated soils in Kazakhstan
EIA forecasts increase of oil output in Kazakhstan
Fitch talks KazTransGas credit profile changes
Eni to complete installation of wind turbines within Badamsha project in December
Kazakhstan begins exporting gasoline after ban lifting
Tengizchevroil to increase oil production to nearly 40M tons per year
Over 50 M tons of oil produced in Kazakhstan

Turkmenistan

ADB to assist Turkmenistan in diversifying energy markets
China receives 23 bcm of gas through Central Asian gas pipeline
Turkmenistan increases industrial capacity of Galkynysh gas field
Turkmenistan remains key supplier of gas to China
Turkmenistan keeps Trans-Caspian gas pipeline project on agenda
Turkmenistan develops plan for development of renewable energy by 2030
Turkmenistan expands network of petrol stations
Turkmenistan publishes data on oil refining
Malaysian Petronas considering petrochemical projects in Turkmenistan
EIA reveals forecasts for oil output in Turkmenistan
Eni spends $2B for operations in Turkmenistan’s Burun field
Turkmenistan to hold talks on oil and gas projects
ARETI considering prospects of partnership with Turkmenistan in energy sector
Eni spends $2B for operations in Turkmenistan’s Burun field
Int'l consortium proposes Turkmenistan to implement Trans-Caspian gas pipeline

Uzbekistan

China receives 23 bcm of gas through Central Asian gas pipeline
Uzbekistan to attract int'l experts to co-op in WB-funded project
Uzbekistan to launch TPP under construction of Japanese consortium
Uzbekneftegaz loses $212M due to low price gasoline sales
Gas stations in Uzbekistan to set own prices on RON-91 fuel
Russian company talks supplies of equipment to Uzbek plant
Uzbek TPP launches first gas turbine
Belarusian OneSoil talks implementation of project in Uzbekistan
Uzbekistan's project in TOP-5 refining, petrochemical projects in Caspian Sea, Central Asia
Cyprus company to acquire chemical plant in Uzbekistan
Uzbekistan discovers new oil field

Georgia

Gas tariffs to be revised in Georgia
Georgia to supply gas to 60 villages by end of 2019
Electricity consumption in Georgia increases by 7-8 percent
Gas consumption increases by 18% in Georgia
Georgia has no need to up fuel prices
Imports of natural gas down in Georgia
Georgia begins construction of new gas pipeline
Alarming rate: Georgia's electricity imports increase 80-fold
Georgia's energy sector remains one of most investment-friendly sectors
Import of oil bitumen to Georgia declines