Russian Pipeline: Bringing Gas and Building Trust
A discussion over energy at the summit last week between Russian President Vladimir Putin and North Korean leader Kim Jong-un has excited the government in South Korea, where the government is desperately looking to entice the North Koreans to come in out…
Oil Shipments from Georgia's Batumi Port Drop
Oil and oil-related shipments from Georgia's Black Sea port of Batumi dropped 24 percent in the first four months of 2019 from a year earlier, an official at a KazMunaiGas-operated terminal at the port said on Wednesday.Shipments of crude oil and refined oil products from Batumi have fallen in recent years…
GAC Bags Petronas Job
GAC Marine’s branch in Turkmenistan has been awarded two contracts by Petronas Carigali, a subsidiary of Petronas, to provide marine services for its development of the Garagol Deniz West (GDW) oil field.The service provider of full marine transportation…
As Traders Tussle Turkmenistan Cuts Exports
A clash between trading house Vitol and Azerbaijan's SOCAR over Caspian Sea oil shipments is forcing Turkmenistan to slash exports of crude due to a lack of tankers.Turkmenistan typically exports about 200,000 tonnes of oil per month via the Caspian to world markets…
Azerbaijan's Jan-Aug Oil Exports via Turkey Pipeline Down
Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey declined by 0.8 percent to 22.288 million tonnes in the first eight months of this year versus the same period in 2017, the State Statistics Committee said on Monday.The BTC pipeline is used to export oil from the Azeri, Chirag
Oil Shipments From Georgia's Batumi Drop 45%
Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell by 45.3 percent in the first eight months of 2018 from a year earlier, an official at the KazMunaiGas operated terminal said on Monday.Some crude oil has been re-routed to the Baku-Tbilisi-Ceyhan pipeline and to the Caspian Pipeline Consort
Jan-March Oil Shipments from Georgia's Batumi Down 54 pct
Oil and oil-related shipments from Georgia's Black Sea port of Batumi fell 53.7 percent between January and March from a year earlier, an official at the KazMunaiGas-operated terminal said on Wednesday. The official said some volumes of crude oil had been…
Turkmenistan Considers Shipping Gas Through Russia to Europe
Turkmenistan may ship natural gas to Eastern Europe through Russia, a senior Turkmen energy official said on Thursday, after Moscow stopped buying gas from the Central Asian nation. Russia's halt on imports of its energy has effectively left Turkmenistan with China as the only buyer of its gas…
Azerbaijan's Jan-Sept Oil Exports via Turkey Pipeline Fall
Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey fell by 7.8 percent year-on-year to 20.326 million tonnes in the January-September period, state energy company SOCAR said on Thursday. The BTC pipeline is used to export oil via from the Azeri…
Kazakhstan to Sell 5 BCM of Gas to China for $1 Bln
Kazakh state-owned firm KazTransGas will ship 5 billion cubic metres of natural gas to China's PetroChina for about $1 billion, the Kazakh company said on Tuesday, the first such deal between the two countries. Shipments will start on Oct. 15 and will be carried out over the course of one year…
Oil Shipments from Georgia's Batumi Port Down by 34%
Oil and related shipments from Georgia's Black Sea port of Batumi are down by 33.9 percent in the first eight months of 2017, a senior official at the terminal, operated by Kazakh state firm KazMunaiGas, said on Friday. The official gave no reason for the fall…
Topaz Financial Results Ending June 2017
Topaz Energy and Marine has announced its results for the six months ended June 30, 2017. Overall core fleet utilization at 62%, while we continue to demonstrate resilience in Azerbaijan with utilization at 95%. Robust EBITDA margin of 50%, despite utilization and rate pressure in Africa and MENA.
Norway Oil Ministry: No Plan to Cut Output
Norway has no plans to cut its oil output, the country's oil and energy ministry said on Tuesday. "The Ministry has a good dialogue with other countries about the oil market. We are not in a situation in which regulating production is on the agenda for Norway," the ministry said in a statement.
OPEC Set to Prolong Oil Cuts
OPEC will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. OPEC's de facto leader, Saudi Arabia, favours extending the output…
Saudis, Russia Provide Crude Price Support
Saudi, Russia support supply cut extension through Q1 2018. Oil hit a three-week high on Monday above $52 a barrel after top exporter Saudi Arabia and Russia said supply cuts needed to last into 2018, a step towards extending an OPEC-led deal to support prices for longer than originally agreed.
Oil Soars on OPEC Hopes, U.S. Crude Supplies
Central European, African countries to join OPEC cuts; U.S. crude stocks fall 5.2 mln barrels to lowest since February. Oil prices rose for a second day on Thursday, closing more than 1 percent higher as support grew for OPEC output cuts a day after the U.S.
Oil Rises as OPEC Acts, U.S. Inventory Falls
Oil prices rose more than 1 percent on Thursday, as large drawdowns in U.S. inventories and growing support for continued OPEC output cuts boosted confidence that a seemingly insurmountable glut might finally diminish. Brent was 69 cents higher, or 1.4 percent, at $50.91 a barrel by 12:07 p.m.
Turkmenistan Expected to Join OPEC-led Oil Supply Cut
Turkmenistan is likely to join an OPEC-led cut in oil supply aimed at supporting prices, sources in OPEC and the industry said, potentially enlarging the output reduction slightly. The Organization of the Petroleum Exporting Countries, Russia and other…
EU Seeks to Negotiate over Nord Stream Pipeline
Pipeline to pass through Danish, Swedish waters; project will bypass major gas transit route Ukraine. The European Union is seeking a mandate from its members to negotiate with Russia over plans for a gas pipeline under the Baltic Sea to Germany, an EU document showed…
Oil Dips on Oversupply Worries
Oil prices edged down on Monday on worries that OPEC-led production cuts may not significantly tighten an oversupplied market in the short term despite talk of extending them. NYMEX crude for June delivery was down 12 cents at $49.21 a barrel by 0032 GMT, after settling up 36 cents on Friday.
