Caspian Energy Investor ¹ 02 (235)     23 January 2007


ACCENT


  • AZERBAIJAN ACCESSES EUROPE’S RETAIL MARKET

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    Baku is developing new routes of crude oil delivery to Europe. The main link in this project, said president of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev in his interview to ÀzÒV, will be Romania.

  • “AZERBAIJANI GAZ WILL REACH EUROPE THIS YEAR”, - ILHAM ALIYEV, PRESIDENT OF AZERBAIJAN


    • BASE LABOUR PENSION AND MINIMUM SALARY IN AZERBAIJAN SET IN AMOUNT OF 50 MANAT IN EFFECT FROM FEBRUARY 1, 2007

    Holding the session with the Government of the republic in the President’s Palace Monday, January 22, President of Azerbaijan Ilham Aliyev was generally positive in his estimation of Azerbaijani economy development by the results of 2006. He called the past year “most successful”, saying ‘he has no doubt in preservation of positive trends of Azerbaijan’s development in 2007’.

  • MINISTRY OF INDUSTRY AND ENERGY OF AZERBAIJAN DRAWS INITIAL VARIANT OF STATE INDUSTRY DEVELOPMENT PROGRAM FOR 2007-2012

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    The Ministry of Industry and Energy of Azerbaijan completed the initial variant of the State Program for development of Azerbaijan’s industry covering years 2007 to 2012.

    EXCLUSIVE


  • MEMBERSHIP IN EU PROVIDED LATVIA WITH NEW OPPORTUNITIES FOR ECONOMIC DEVELOPMENT - MIKHAILS POPKOVS


    • “Formation of the EU’s uniform position on talks with third countries, mainly energy suppliers (OPEC, the RF) is one of core issues of the Green Paper. Previously, the EU’s practice was to have each individual country negotiate energy resource supplies by its own. In our opinion, implementation of such uniform position will be quite significant for provision of better terms in negotiations with third countries and allow for more efficient realization of the European Union’s interests”, Mikhails Popkovs, the Ambassador Extraordinary and Plenipotentiary of Latvia to the Republic of Azerbaijan, told Caspian Energy Investor.

    CASPIAN REGION


  • Kazakhstan

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  • KAZMUNAYGAZ MANAGEMENT DISCUSSES PROSPECTS OF GAS INDUSTRY UP TO 2020

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    KMG SUMMARIZED ITS 2006 ACTIVITIES

    The issues related to the current state and plans for production, treatment, processing and sale of stock gas, as well as gas injection to wells were discussed at NC KazMunayGaz AO’s first round table “Prospects of Production, Processing and Use of Gas up to the Year 2020”

  • KAZAKHSTAN IMPOSES RESTRICTION FOR TRANSFER OF SUBSOIL USE RIGHTS WITHIN 2 YEARS FROM CONTRACT SIGNING DATE

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    Kazakh Government has made an amendment to the oil regulatory that imposes a restriction for transfer of subsoil use rights within 2 years from the contract signing date. The new regulatory will enable Astana better control national energy resources and prevent their transfer to foreign custody. But analysts doubt this measure will provide effective protection from non-residents.

  • Turkmenistan

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  • Russia

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  • RUSSIA TO REDUCE DEPENDENCE ON ENERGY TRANSIT COUNTRIES


    • Russia is going to extend its oil and gas transportation networks in all directions in order to reduce its dependence on transit countries, said Russian President Vladimir Putin on Sunday by the results of talks with Chancellor of Germany Angela Merkel in Sochi.


    GAS


  • TURKEY ABOUT TO SET UP JV WITH IRAN AND AUSTRIA TO DEAL WITH GAS SALES THROUGH NABUCCO GAS PIPELINE


    • Turkey might set up a joint venture with Iran and Austria to deal with gas sales to European countries through the Nabucco gas pipeline, the official representative from the Ministry of Energy of Turkey said.

    MEP



    TRANSPORTATION


  • Caspian Ports



    • ECONOMY


  • PRICE BOOST OR ECONOMIC NECESSITY?

    •
    Heydar Babayev
    Minister of Economic Development of the Republic of Azerbaijan
    Chairman of the Tariff Council

  • IMISHLI-PARSABAD POWER LINE UNDER CONSTRUCTION

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    Construction of the 330-kilovolt Imishli-Parsabad high-voltage power line (Iran) is actively proceeding.

  • AZPROMO DISCUSSES 2007 WORK PLAN


    • The Board of Trustees of the Azerbaijani Export & Investment Promotion Foundation (AZPROMO) summed up the result of 2006 and discussed the 2007 work plan at the yesterday’s session (January 22).

  • TEXNIKABANK GAINED 5MLN MANAT OF PROFIT IN 2006

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    During 2006, joint-stock commercial bank Texnikabank raised its investments to 2.3mln manat, whilst its assets jumped almost 2.1 times and amounted to 132mln manat

  • AGBANK SUMS UP FINANCIAL RESULTS OF 2006

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    Following the results of 2006, the receipts of AGBank made up 18.3 million AZN, which is 3.1 million AZN higher vs. 2005. The expenditures grew by 2.1 million AZN and amounted to 15.7 million AZN. The balance sheet profit made 2.6 million AZN, which is 63% higher compared to the respective period of 2005.

  • BANK STANDARD’S ASSETS REACH $310MLN

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    As of January 16, 2007, the total amount of Bank Standard’s assets was $310mln or 270mln manat, up $194.7mln or 169.7mln manat (169%) compared to January 2006.

  • ATASIGORTA’S INSURANCE PREMIUMS AMOUNTED TO 3.7MLN MANAT

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    In 2006 AtaSigorta’s insurance premiums amounted to 3.076 581mln manat, up 71.5% over year.

    SOCAR


  • Researches

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  • Budget

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    COMPANIES


  • MOST OPERATIONS OF LUKOIL OVERSEAS DURING 2006 FALL FOR KAZAKHSTAN


    • In accordance with the resolution of the Board of Directors of LUKOIL the Executive Board of LUKOIL Overseas reviewed and approved the preliminary results of operational and economic activities of the Company in 2006.


  • GAZPROM ÎÀÎ ANNOUNCES PLANS FOR 2007


    • Gazprom ÎÀÎ announced its plans for the year 2007 regarding international cooperation and examined preliminary results of its operation during 2006, approving the main financial documents for 2007.


    WORLD MARKET


  • OPEC TO CUT QUOTAS

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    OPEC does not leave the hope to stop the decline of oil prices. The cartel is planning to cut production by 500,000 bbl a day starting February 1.