Caspian Energy Investor ¹ 34 (223)     17 October 2006


ACCENT


  • COMPANIES CIBC-MEMBERS MET WITH EXECUTIVE DIRECTOR OF SOFAZ SHAHMAR MOVSUMOV
    The companies-members of the Caspian Integration Business Club (CIBC) and Shahmar Movsumov, the Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) have held a meeting today (October 10) so as to establish a business-to-government dialogue.

  • REEXPORT OF AZERBAIJAN GAS THROUGH TURKEY TO BE COMMENCED NO SOONER THAN APRIL 2007
    On the one hand Azerbaijan still imports Russian gas, which cost for 2007 is still unknown, on the hand the country is going to join the number of gas exporting states. The Turkish section of the Baku-Tbilisi-Erzurum gas pipeline (BTE) will be completed before the end of October. According to the preliminary data, already in 6 months Azeri gas will be available to Europe. At the same time the republic sets the goal to ramp up in-country gas production due to operation of explored deposits.

    • EXCLUSIVE


  • AZERBAIJAN EXPORTS 80% OF OIL-FIELD EQUIPMENT MANUFACTURED IN THE COUNTRY - A. GARAKHANOV
    “There are 14 plants and 4 institutions within the structure of Azneftkimyamash JSC. The design institute and the pilot-producing plant are not subjected to certification, whereas major plants producing oil-field equipment undergo certification. At the moment works are carried out on the three plants to accredit the API standard to their production. Thus, by the end of the year we will have 8 instead of 5 API-accredited plants”, Ali Garakhanov, the Chairman of Azneftkimyamash JSC said in the exclusive interview to Caspian Energy Investor.

  • IRAN IS INTERESTED TO PROMOTE DIALOGUE BETWEEN PRODUCERS AND CONSUMERS – M. KHAGHANI
    “Under conditions of world’s steadily growing demand on crude hydrocarbons, the Islamic Republic of Iran is able to undertake the role of a transit country to ensure global energy security. The recently commissioned Baku-Tbilisi-Ceyhan oil pipeline will deliver Azeri and Kazakh oil to the Mediterranean Sea to partially meet needs of Europe. However, there is an eastern direction left”, the General Director for Caspian Sea Oil & Gas Affairs of the Oil Ministry of Iran, Mahmood Khaghani said in the exclusive interview to Caspian Energy Investor.


    • CASPIAN REGION


  • Kazakhstan


  • FEC: CASPIAN AND CENTRAL ASIAN VECTOR


    Considering the urgency of the 14th Kazakh International Oil & Gas Conference (October 3-6, Almaty) held with participation of representatives from ministries and departments of the Black Sea-Caspian countries as well as from world’s largest oil and gas corporations, we continue reviewing the most actual speeches and presentations.

  • Turkmenistan


  • Russia



    • GAS



    TRANSPORTATION


  • Baku –Novorossiysk


  • Caspian ports


  • Kars-Akhalkalaki



    • ECONOMY


  • 2007 DRAFT BUDGET TO BE SUBMITTED TO MILLI MAJLIS FOR CONSIDERATION
    The Executive Office of the Azerbaijan’s President is completing reviewing the 2007 draft state budget. The 2007 draft state budget, conception and forecast of development of Azerbaijan Republic for 2007 and the next 3 years will be submitted to Milli Majlis of Azerbaijan for consideration.


    • EXHIBITIONS


  • CLOSING EXHIBITIONS OF THE 2006 AUTUMN SEASON
    The largest traditional BakuBuild Exhibition is held in Baku and will close the exhibition season of 2006.

    • SOCAR


  • SOCAR RAMPS UP OIL PRODUCTION


    In January-September 2006 oil & gas production departments of SOCAR’s Azneft PA extracted 5,885,744 tons of oil. This is 0.1% higher in comparison with the respective period of 2005. SOCAR exported 976,909 thousand tons of oil in the “northern” direction.


    • CONSORTIA


  • ACG



    • COMPANIES



    WORLD MARKET


  • OPEC TO CUT OIL PRODUCTION BY 1,000,000 BARRELS A DAY
    IEA DECREASED THE FORECAST ON GLOBAL OIL DEMAND GROWTH IN 2007

    OPEC countries have agreed to cut quotas by 1 million barrels a day. According to Associated Press, the Minister of Energy & Industry of Algeria, Abdullah bin Hamad Al Attiyah made such a statement. The cartel members are going to study the situation and review volumes of produced oil. OPEC members will make a final decision on October 19 in Qatar.