Envoy: EU sanctions now include financing of Russian battlefield products
The EU sanctions envoy stated on Wednesday that sanctions against financial institutions could be aimed at the military product flow to Russia, as well as products manufactured in Southeast Asia by Western subsidiaries. Since 2022, the EU has imposed extensive sanctions against Russia because of its invasion in full force of Ukraine. David O'Sullivan, EU envoy, said that sanctions are not a "magic bullet", but they aim to make Russia's war machine more difficult to fuel. He said he had no illusions about circumvention…
New Offshore Acreage Licensing to Drop 60% in 2020, Rystad says
Newly licensed offshore oil and gas exploration acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, Rystad Energy has said, as the Norwegian energy market analytics company expects more than half of the world’s planned licensing rounds to be canceled this year due to the combined effect of the COVID-19 pandemic and the low oil prices."This year was slated to be another remarkable year for exploration with about 45 countries launching at least 52 lease rounds, about 60% of them in offshore areas.
Tajikistan Starts Up First Turbine in Dam Set to be World's Tallest
Tajikistan started the first turbine of its Rogun hydroelectric power plant on Friday, part of a dam project that aims to secure the Central Asian nation's energy independence.The former Soviet republic issued its first Eurobond last year to help finance the project, which will include the world's tallest dame when it is completed in 2026.Italy's Salini Impregilo won a $3.9 billion contract, making it the biggest single investment in Tajikistan since it gained independence in…
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, KazTransGas said in a statement. A gas pipeline completed in 2009 connects all Central Asian energy exporters - Turkmenistan, Uzbekistan and Kazakhstan - to China. But Kazakhstan has until now exported gas only to Russia because additional pipelines were needed to link its fields to the Chinese one.
Tajikistan Building World's Tallest Dam for Hydro Plant
Tajikistan on Saturday diverted the flow of a major river to start building the world's tallest dam and the main element of the Rogun hydroelectric power plant, a $3.9 billion project which Dushanbe hopes will secure its energy independence. The Central Asian nation which borders Afghanistan lacks hydrocarbon resources and relies heavily on hydroelectric power, although its neighbours downstream complain that this disrupts their traditional agricultural works. President Imomali…
Glaciers Thawing Fast in Threat to Hydro Power, Farms
Mountain glaciers in Central Asia have shrunk four times faster than the world average, threatening river flows vital for agriculture and hydro power from Uzbekistan to western China, scientists said on Monday. Global warming is likely to quicken the thaw in the vast Tien Shan range in coming years, melting half the remaining ice by the 2050s, according to the study led by the GFZ German Research Centre for Geosciences. A local rise in temperatures, perhaps linked to climate change in the north Pacific and north Atlantic oceans…
DW Release World Drilling & Production Forecast Update
The new quarterly issue (Q3) of Douglas-Westwood’s (DW) World Drilling and Production Forecast (DWD&P) has been released. Major changes have been seen in the forecasts for Iraq, Libya and Uzbekistan. DW inform that the report now also includes forecasts for Bangladesh, Israel, Mozambique, Republic of Congo and Sudan & South Sudan. Through to 2020 and utilizing a proprietary methodology, DWD&P provides data analysis on 58 key countries, offering near-total coverage of global onshore and offshore hydrocarbon production.
