The Kazakhstan’s port of Aktau on the Caspian shore has sent the first pilot shipment of 6,900 tons of oil from the country’s supergiant Kashagan field to the port of Baku for onward export, KazTransOil reports. The oil shipper is INPEX North Caspian Sea, Ltd, based in Tokyo. According to Hiroshi Ikeda, Director of the […]
As OPEC notes upward trend in world oil demand, the consumers should remain wary of market volatility, price fluctuations
The OPEC, in its latest monthly has revised upward the global oil demand for 2023. This is based on the market activity in January 2023. https://momr.opec.org/pdf-download/ The OPEC predicts that the oil demand will increase by 2.32 million barrels per day (bpd) in 2023 to reach 101.87 million bpd, with some minor upward adjustments due […]
Last week Iranian oil ministry delegation had meetings in Turkmenistan, offered cooperation in several areas
An Iranian delegation led by the Deputy Oil Minister for Engineering, Research, and Technology Vahid-Reza Zeidifard was in Turkmenistan for the 14th special exhibition of Iran in Ashgabat. The delegation had meetings on the sidelines of the event, exchanging views with the senior officials of the state concern Turkmengaz, state concern Turkmennef, and the state […]
Oil production in Kazakhstan in 2022: 84.2 million tons
Kazakhstan produced 84.2 million tons of oil and condensates in 2022, reports Kazinform, the prime news service of Kazakhstan. The Kazinform correspondent reports that according to the Minister of Energy of Kazakhstan Bolat Akchulakov, it amounted to 84.2 million tons, or 101.6% of the plan. According to the minister, 9.2 million tons of oil or […]
2023 Energy Outlook – ING Group Report
Predicting about the markets, particularly the oil and gas markets, falls in the genre of educated guess. The financial and analytical institutions are among the many sources for such predictions. The people in and related to the oil and gas sectors need to get acquainted with the incoming and fresh predictions to make their own […]
Petronas announces first oil at Garagol Deniz Oil Development Project
Ashgabat, Turkmenistan, 19 October 2021 – PETRONAS Carigali (Turkmenistan) Sdn Bhd (PC(T)SB) reached a significant milestone when it achieved first oil from the Garagol Deniz West (GDW) Oil Development project on 5 August 2021. The GDW field is located in Block 1, Turkmen Sector of the Caspian Sea. The 6,000 bp/d oil production from the […]
For foreign partners of Turkmenistan in hydrocarbon sector – time to push the horizon – Part 2
Tariq Saeedi The government of Turkmenistan frequently mentions the need for diversification in its policy statements. What is the concept of diversification from the point of view of Turkmenistan? From time to time we have spoken to different senior officials in Turkmenistan about their idea of diversification. Here is what we have learned: There are […]
Для зарубежных партнеров Туркменистана в углеводородном секторе – время раздвинуть горизонты сотрудничества – Часть 2
Тарик Саиди Правительство Туркменистана часто упоминает о необходимости диверсификации в своих политических заявлениях. Что такое концепция диверсификации с точки зрения Туркменистана? Время от времени мы беседовали с различными высокопоставленными чиновниками в Туркменистане об их идее диверсификации. Вот что нам удалось узнать: Туркменистане выделяет четыре основных компонента концепции диверсификации: Диверсификация как часть целостного подхода Туркменистан придерживается […]
Volatile oil futures in 2020 – whither Central Asia
nCa Commentary It is as if the analysts are taking out vastly differing rabbits from one big hat as far as the predictions about the oil prices next year are concerned. The Central Bank of Russia issued its updated macroeconomic forecasts on 9 September 2019 in which it does not rule out the oil prices […]
Нестабильные нефтяные фьючерсы в 2020 году – каковы перспективы для Центральной Азии
Комментарий nCa Попытки аналитиков предсказать цены на нефть в следующем году больше похожи на вынимание из одной большой шляпы сильно отличающихся кроликов. Центральный Банк России опубликовал обновленные макроэкономические прогнозы от 9 сентября 2019 года, в которых в рисковом сценарии не исключается падение цен на нефть до $ 25 за баррель в 2020 году. Наташа Турак […]
The 24th “Oil and Gas of Turkmenistan” international conference (OGT 2019)
The 24th “Oil and Gas of Turkmenistan” international conference is organized by State Concern “Turkmennebit” in partnership with Turkmen Forum, and will take place at the Chamber of Commerce and Industry of Turkmenistan on 22-23rd of October 2019. OGT is a prestigious business forum, which is held annually to develop and strengthen international partnerships between […]
23rd International Conference “Oil and Gas of Turkmenistan 2018”
September 10, 2018, Ashgabat – The 23rd International Conference “Oil and Gas of Turkmenistan 2018” will be held in Ashgabat, the capital of Turkmenistanon November 20-21, 2018.The State Concern “Turkmennebit” organizes the forum with the assistance of the French company Cifal Industrial Services. The International Conference “Oil and Gas of Turkmenistan» has established itself as […]
Dealing with pressure on Manat
Tariq Saeedi Ashgabat, 24 August 2015 (nCa) — On 20 August 2015, Kazakhstan decided to do away with the dollar-pegged exchange rate and allow Tenge to free float as per market conditions. The structure of free float decision In free float scenario, the value of Tenge will be determined by supply and demand in the […]
Решения вопроса о давлении на манат
Тарик Саиди Ашхабад, 24 августа 2015 (nCa) — 20 августа 2015 года Казахстан решил отказаться от привязки своей валюты к доллару и позволить тенге отправиться в свободное обращение согласно рыночным условиям. Структура решения о свободном плавании По сценарию свободного плавания, стоимость тенге будет определяться спросом и предложением на валютном рынке. Национальный банк сохранит за собой […]
Russian firm wins major oil contracts in Iraq
LUKOIL SIGNED CONTRACTS – FOR WEST QURNA-2 FIELD DEVELOPMENT IN IRAQ LUKOIL Mid-East Ltd (West Qurna-2 project operator) signed several major contracts for West Qurna-2 field development in Iraq according to the tender results. The contract with the Samsung Engineering (Korea) sets out 29 months to design 5 well pads with 67 development wells, 5 […]