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Uzbekneftegaz to Sack 12,000 Employees
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Uzbekneftegaz to Sack 12,000 Employees

By the decision of the President of Uzbekistan Shavkat Mirziyoyev, a set of measures to improve the management system of the oil and gas industry was approved. The website of the head of state reports this. According to the documents, new tasks for long-term and stable development of the industry require a radical review of the existing organizational structure and […]

Gas Prices in Uzbekistan Increase by 7%
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Gas Prices in Uzbekistan Increase by 7%

In Uzbekistan, since July 15, the tariffs on natural gas for the population will increase by 7%. In particular, the cost of 10 cubic meters of gas in the presence of a meter since July 15 will be 2634 soums ($ 0.67) instead of the current 2461 soum (growth – 7%). This information is available on the website of the […]

TAP Announces New Management Team
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TAP Announces New Management Team

Trans Adriatic Pipeline AG (TAP) announced the appointment of Luca Schieppati as Managing Director and Walter Peeraer as President, both starting on 27th June 2017. Luca Schieppati will replace the current Managing Director Ian Bradshaw. He joins TAP from Snam, Europe’s largest natural gas utility, where he has worked since 1991. His most recent position was chief industrial assets officer […]

TurkStream gas pipeline laying in deep water commenced
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TurkStream gas pipeline laying in deep water commenced

Russian Gazprom announced that it started laying the TurkStream gas pipeline in the deep-water area off the coast of Anapa. TurkStream is the project for a transit-free export gas pipeline stretching across the Black Sea from Russia to Turkey. Each of the two strings of the gas pipeline will have a throughput capacity of 15.75 billion cubic meters of gas per year. The […]

Bulgaria Wants to Receive 3 Bcm of Gas from Shah Deniz-2
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Bulgaria Wants to Receive 3 Bcm of Gas from Shah Deniz-2

The Bulgarian company Bulgartransgas starts negotiations with SOCAR on deliveries of Azerbaijani gas to Bulgaria for the gas hub Balkans, Bulgarian media reported with reference to Deputy Energy Minister Zhecho Stankov. Bulgartransgas starts negotiations with SOCAR on the volume of gas supplies to the gas hub Balkan. Everything is at the very beginning now. Bulgartransgas is negotiating on the free […]

USA Delivered First Batch of LNG to Poland
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USA Delivered First Batch of LNG to Poland

The United States delivered the first consignment of liquefied natural gas (LNG) to Poland and expects that this will have a positive impact on ensuring the security of energy supplies to this country, State Department spokesman Heather Neuert said. “This LNG cargo arrived in Poland on June 7. This allows reducing energy prices and encouraging the people of Poland to […]

Export Earnings of OPEC Fell by 13.2% in 2016
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Export Earnings of OPEC Fell by 13.2% in 2016

Revenues from oil exports by OPEC countries in the past year fell by 13.2% compared to 2015, amounting to $ 445.7 billion, the organization’s document says. At the same time, OPEC’s oil exports for 2016 increased by 6.5% to 25.01 million barrels per day. The current account deficit of the countries of the cartel was $ 43.7 billion in 2016, […]

Gazprom and OMV to Revive South Stream
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Gazprom and OMV to Revive South Stream

The Austrian company OMV and Russian Gazprom are discussing the possibility of reviving the South Stream project, which envisaged the construction of a pipeline from the shores of Russia through the Black Sea to Bulgaria and further to Europe. This was reported by the publication of Der Standard on June 13, citing sources familiar with the situation. It is assumed […]

BP Wants to purchase Russian Gas from 2019
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BP Wants to purchase Russian Gas from 2019

The Deputy Prime Minister of Russia Arkady Dvorkovich stated that Rosneft had not applied to the government with a request to approve the export of gas to BP. This is reported by TASS. Rosneft and BP at the St. Petersburg International Economic Forum (SPIEF) signed an agreement on strategic cooperation in the gas sector and a memorandum of understanding on […]

The Saudis Lose Their Currency Reserves
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The Saudis Lose Their Currency Reserves

The cost of Saudi Arabia’s net foreign assets fell to $ 493 billion in April for the first time since 2011, even after the kingdom earned $ 9 billion on the first international sale of Islamic bonds. Saudi Arabia’s currency reserves declined from a maximum of more than $ 730 billion in 2014 after a fall in oil prices, prompting […]

Baku Knows about Forces that Prevent Construction of TAP
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Baku Knows about Forces that Prevent Construction of TAP

Azerbaijani President Ilham Aliyev states that there are forces preventing the construction of the TAP (Trans Adriatic Pipeline) pipeline. “One of the key issues facing Azerbaijan today is the completion of the Southern Gas Corridor (SGC) project. This project is being successfully implemented,” Ilham Aliyev said at the official reception on the occasion of the national holiday of Azerbaijan – […]

OPEC to No Longer Reduce Extraction of Raw Materials
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OPEC to No Longer Reduce Extraction of Raw Materials

All quotas of the OPEC countries and non-cartel countries remain at the same level, Azerbaijani Energy Minister Natig Aliyev told journalists in Vienna 25 May. “We (Azerbaijan – ed.) first offered to extend the agreement for six months, but I think it’s better for 9 months to cover the winter period, which is very sensitive,” Aliyev said. According to Aliyev, […]

Natig Aliyev to Attend Meeting of OPEC
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Natig Aliyev to Attend Meeting of OPEC

The Energy Minister of Azerbaijan Natig Aliyev will take part in the meeting of OPEC member countries and countries outside the cartel in Vienna on May 23-25, the Energy Ministry of Azerbaijan stated. “The Minister of Energy Natig Aliyev will pay a visit to Vienna on May 23-25, where he will represent Azerbaijan at the 172nd meeting of the Council […]