Ay: Avqust 2013

Why small producer Syria matters to oil markets
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Why small producer Syria matters to oil markets

Oil prices rose to a six-month high on Tuesday as Western powers readied a military strike against Syria, and traders and analysts cited concerns over stability in the Middle East. Below are facts about Syria’s energy sector and why developments there matter to global oil markets. SYRIA’S OIL AND GAS SECTOR * Syria has not exported any oil since late […]

After Nabucco-West failure Romania starts work on gas pipeline to the Moldova
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After Nabucco-West failure Romania starts work on gas pipeline to the Moldova

Romania and its neighbor the Republic of Moldova recently started work on the gas pipeline connecting the Romanian city of Iasi to the Moldavian Ungheni. The inauguration of work on the pipeline took place on Tuesday, August 27, when the Republic of Moldova celebrates its Independence Day. The ceremony was attended by Prime Ministers of both countries, as well as […]

Georgia looks to revive its oil industry
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Georgia looks to revive its oil industry

Georgia’s oil production may be miniscule compared with that of neighbouring Azerbaijan, but a series of multi-million-dollar deals for exploration could tap into new reserves and offer a big boost to production. New investments for oil exploration – by Cayman Islands-registered Tethys Petroleum and Czech-based MND Group – could be harbingers for greater interest, believes the chief executive of the […]

Total company’s oilmen died in Scotland
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Total company’s oilmen died in Scotland

Super Puma helicopter with 18 passengers aboard has had an accident in Scotland. The crash happened close to Samboro airport in Shetland island, reported BBC. The helicopter fell into the water, the rescue services found 15 people and evacuated them. Bad weather conditions have complicated the search. Soon the rescuers found three dead bodies. Another passenger has died on the […]

Azerbaijani oil prices for August 19-23
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Azerbaijani oil prices for August 19-23

On August 19-23, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was about $114.65 per barrel or $1.12 more compared to the previous week. The maximum price of AZERI LT was $115.33 per barrel. The minimum price was $114.24 per barrel. Azeri Light’s density is 34.6 degrees API […]

Azerbaijani oil prices for August 19-23
İnteresting News

Azerbaijani oil prices for August 19-23

On August 19-23, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was about $114.65 per barrel or $1.12 more compared to the previous week. The maximum price of AZERI LT was $115.33 per barrel. The minimum price was $114.24 per barrel. Azeri Light’s density is 34.6 degrees API […]

Georgia increases gas import from Azerbaijan by almost 18%
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Georgia increases gas import from Azerbaijan by almost 18%

Georgia imported about 693,960 tons of natural gas from Azerbaijan which amounted to $119.01 million in first six months of 2013, the GruzStat (Georgian National Statistical Service) reported. According to the report, in total, Georgia imported about $44.43 million worth of natural gas in January-June, 2013. Azerbaijan is the main supplier of this kind of fuel to the country with […]

China to be ahead of US in oil import by 2017
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China to be ahead of US in oil import by 2017

According to the estimates of Wood Mackenzie consulting company, by 2017 China will be ahead of US in oil import. The analysts believe that China will be ahead of US in oil import after 2015. Year of 2017 must become a “turning point in difference of tendencies in oil import between China and US.” According to the US Energy Information […]

FPC to demolish oil prices
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FPC to demolish oil prices

54% of analysts, who participated at the Bloomberg consensus forecast, expect reduction of oil prices, because of toughening of the FPC monetary policy. 62% of them expect that the regulator will start reducing purchase of assets in September 2013. FPC launched the program of purchase of mortgage bonds worth $85 billion in September 2012, during this period the regulator’s account […]

US shale myths and European market reality
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US shale myths and European market reality

Igor Alexeev Many US shale companies that have been beating the drums of shale “revolution” are now facing oil and gas well depletion. In February 2013 the US Energy Information Administration (EIA) warned that “diminishing returns to scale and the depletion of high productivity sweet spots are expected to eventually slow the rate of growth in tight oil production”. It […]

During 7 months, 2013 Russia increased oil production by 0.7%
Russia

During 7 months, 2013 Russia increased oil production by 0.7%

From January to July 2013 oil and gas condensate production in Russia increased by 0.7% and totaled 302 million tons, reported the Russian Federal State Statistical Service. During this period production of natural gas, including associated gas, decreased by 0.4% against the same period last year and totaled 381 billion cub.m. During this period in 2013 oil refining in Russia […]

During 6 months 2013 Gasprom decreased gas export to Ukraine by almost 40%
Russia

During 6 months 2013 Gasprom decreased gas export to Ukraine by almost 40%

During 6 months, 2013 Gasprom gas export to Ukraine totaled 9.67 billion cub.m., reads the gas concern’s report for quarter 2, 2013. According to the Gasprom report, during 6 months, 2012 15.92 billion cub.m. was delivered to Ukraine. Therefore, the deliveries decreased by almost 40%. During six months deliveries to Belarus decreased insignificantly and totaled 10.39 billion cub.m. against last […]

Norwegian oil fund to be divided into several parts
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Norwegian oil fund to be divided into several parts

The Norwegian National Welfare Fund could be divided soon into several parts. This proposal has been forwarded by Erna Solberg, leader of the opposition Conservative party. The National Welfare Fund or the State Pension Fund of Norway is the biggest in the world. By July 2013 the Fund’s assets reached $740 billion. The Fund is managed by the Norges Bank […]