Caspian Energy Investor ¹ 37 (226)     7 November 2006


ACCENT


  • MEMORANDUM OF UNDERSTANDING ON STRATEGIC ENERGY PARTNERSHIP BETWEEN EU AND AZERBAIJAN TO BE SIGNED IN BRUSSELS


    • AZERBAIJAN TO ADAPT TO THE EUROPEAN ENERGY MARKET

    President of Azerbaijan Ilham Aliyev is paying a working visit to Brussels (Belgium). Today (November 7) President of Azerbaijan Ilham Aliyev and President of the European Commission Jose Manuel Barroso signed the Memorandum of Understanding on Strategic Partnership in the Energy Field between the European Union and the Republic of Azerbaijan, Caspian Energy Investor reports.

  • MAJOR PART OF SOFAZ’S RECEIPTS FORMED DUE TO OIL CONTRACTS

    •
    CURRENCY RESERVES OF AZERBAIJAN REACH $1.6 BILLION

    Azerbaijan keeps on strengthening its positions in the international market and maintains firm positions based on the economic model of development. Receipts from the oil export are accumulated in the State Oil Fund of Azerbaijan recognized as a model of transparency. The image of Azerbaijan is getting stronger due to growing reserves of the country. For September 30, 2006 the State Oil Fund of Azerbaijan accumulated AZN 1374.8 million (1.569 billion USD) which is 7.4% higher than the respective level in early 2006. At the same time, the currency reserves of the country managed by the National Bank of Azerbaijan are growing and for November 1, 2006 comprised 1.6 billion US dollars.

    EXCLUSIVE


  • KAZAKHSTAN CARRIES OUT ACTIVE WORK TO DIVERSIFY ECONOMY AND ATTRACT INVESTMENTS IN THE NON-RAW SECTORS OF ECONOMY, - VLADIMIR SHKOLNIK


    • “The process of Kazakhstan’s entry to WTO requires carrying out overall economic reforms aimed at following of a stable market policy and establishment of market institutions in the country. We recognize that on the given stage we have to implement further gradual liberalization of the key sectors of economy to promote national economic interests. At the same time it is important to provide correspondence of institutional and human resources to the degree of liberalization of the economic trade policy,” the Minister of Industry and Commerce of Kazakhstan, Vladimir Shkolnik said in the exclusive interview to Caspian Energy Investor.

  • TANKER FLEET IS GOING TO PLAY A KEY ROLE FOR HYDROCARBONS TRANSPORTATION TO SALES MARKET FOR LONG – MANAGING DIRECTOR OF INTC

    •
    “We constantly hold talks with all neighbouring states to discuss opportunities to ramp up today’s volumes of oil transportation. The talks are held, in particular, with Kazakhstan, Russia and Turkmenistan so as to initially receive 370,000 barrels of crude oil. We are interested in Azerbaijan’s joining these projects”, Mohammad Souri, the Managing Director of the Iranian National Tanker Company said in the exclusive interview to Caspian Energy Investor.


    CASPIAN REGION


  • Kazakhstan


  • Turkmenistan


  • Iran

    •

    GAS


    MEP


    TRANSPORTATION


  • Samsun-Ceyhan


  • Baku-Novorossiysk

    •

  • Odessa-Brody

    •


    ECONOMY


  • EBRD GRANTS 115 MILLION USD TO REHABILITATE AZERBAIJAN THERMAL POWER PLANT

    •
    The sovereign-guaranteed loan to the sum of 115 million USD granted by the EBRD to Azerenergy JSC for the rehabilitation of the Azerbaijan Thermal Power Plant (TPP) within the framework of the agreement signed is set to boost the reform of the energy sector in Azerbaijan.


    SOCAR


  • Drilling


  • Tenders

    •


    CONSORTIA


  • OAO NC RUSSNEFT AND SOCAR SIGN PSA ON DEVELOPMENT OF ZYKH AND GOVSANY FIELDS

    •
    A new consortium will be set up in Azerbaijan. In this connection, the State Oil Company of Azerbaijan (SOCAR) and Russia’s Russneft Company signed the Agreement (November 3) on rehabilitation, development and shareholding of Zykh and Govsany oil deposits in Azerbaijan.


    COMPANIES


    WORLD MARKET


  • IRAN CUTS OIL PRODUCTION

    •
    VENEZUELA CALLS UPON OPEC TO ADDITIONALLY CUT OIL PRODUCTION

    Despite oil prices got a little stabilized Venezuela will insist on extra reduction of oil production quotas during the next OPEC’s session to be held in December 2006. Rafael Ramirez, the Minister of Energy & Oil of Venezuela reported this.