Tag Archives: hydrocarbons

Azerbaijan’s ACG production drops

NOV. 30 2015 (The Conway Bulletin) — BP, the British operator of Azerbaijan’s largest oilfield, Azeri-Chirag-Guneshli (ACG), said in a statement that production in the first three-quarters of 2015 showed a decline of 2.4% compared to last year. ACG’s oil production is vital for the Azerbaijani economy. In the first nine months of this year, ACG averaged 640,000 barrels/day, against 655,700 barrels/day last year. Maintenance work in Q3 2015 slowed production.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

Azerbaijani company wants partners for Greek distributor deal

DEC. 10 2015 (The Conway Bulletin) — SOCAR, Azerbaijan’s energy company, has to sell a 17% stake in the Greek gas distributor DESFA by the end of June 2016 to comply with EU ownership regulations, media quoted the Greek authorities as saying.SOCAR bought a 66% stake in DESFA in 2013 although the European Commission later said that under 2009 rules it had to bring its stake in DESFA down to 49%. Belgium’s Fluxys and Spain’s Enagas have submitted a joint offer for the stake. Italy’s Snam has also said it would be interested in buying it.

ENDS

(News report from Issue No. 260, published on Dec. 11 2015)

Chinese Kyrgyz refinery opens

NOV. 28 2015 (The Conway Bulletin) – A $60m Chinese-built oil refinery opened in Tokmok in the north of Kyrgyzstan, the second refinery that China has constructed in the country. Both the Chinese-refineries will rely on Russian crude oil to operate. Kyrgyzstan has been facing a shortage of refined petrol products.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

Kazakhstan opens $1.2b gas pipeline

DEC. 4 2015 (The Conway Bulletin) – Kazakhstan’s Kaztransgas, the state- owned pipeline monopoly, opened a third pipeline pumping gas to China, highlighting Chinese dominance over Central Asia’s energy resources.

Line C will bring the total capacity of the Kazakhstan-China pipeline to 55b cubic metres of gas a year. The Kazakhstan-China pipeline is part of

the 1,300km pipeline network that spans Central Asia. Its main purpose is to pump Turkmen gas to China, although Uzbekistan and Kazakhstan also contribute.

The pipeline cost $1.2b to build and was described by Kaztransgas as the biggest infrastructure project in independent Kazakhstan.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

Lukoil ups Ubekistan’s production

DEC. 1 2015 (The Conway Bulletin) — Russian oil company Lukoil said it increased both investment and production in Uzbekistan’s gas sector in the first nine months of 2015. Investment grew by 38% to $759m, compared to last year. Production rose to 4.7b cubic metres, up 26% from around 3.7b cubic metres last year. Lukoil is one of Uzbekistan’s biggest investors. Uzbekistan has said it wants to increase its gas production.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

China signs deal on Kazakh refinery

NOV. 27 2015 (The Conway Bulletin) – China Petroleum Engineering & Construction signed a deal with Kazakhstan’s state-owned Kazmunaigas to modernise the oil refinery at Shymkent, south Kazakhstan. The upgrade will also mean the refinery’s capacity increases to 6m tonnes from 5.25m tonnes. Kazakhstan needs to increase its refinery capacity.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

Fire breaks out on Azerbaijani oil rig

DEC. 4 2015 (The Conway Bulletin) – At least one person has died and another 29 people are missing after an oil platform in the Azerbaijani sector of the Caspian Sea caught fire.The platform is part of the Gunehsli field which is operated by BP.

ENDS

(News report from Issue No. 259, published on Dec. 4 2015)

Kazakh government to cut oil exports

NOV. 23 2015 (The Conway Bulletin) – In a move designed to help oil exporters, the Kazakh government said it would cut export duty on a tonne of oil to $40 from $60. Some exporters in Kazakhstan have simply stopped production until either oil prices improved or taxes were cut.

ENDS

(News report from Issue No. 258, published on Nov. 27 2015)

Kazakhstan-focused Nostrum slashes revenues

NOV. 25 2015 (The Conway Bulletin) — In its financial results for the first nine months of the year, Kazakhstan- focused Nostrum Oil & Gas said revenues were down 40% to $374.8m. Low oil prices and back taxes dented Nostrum’s financial position. Nostrum is investing around $500m in the GTU3 gas treatment facility, which will increase production to 100,000 barrels of oil equivalent per day (boepd) by 2017 from around 40,000boepd.

ENDS

(News report from Issue No. 258, published on Nov. 27 2015)

New gas pipeline opened in Kazakhstan

NOV. 20 2015 (The Conway Bulletin) – Kazakhstan’s pipeline monopoly Kaztransgas launched the $3.5b Beineu- Bozoi-Shymkent gas pipeline, five months early. The pipeline is important because it pumps gas from fields in the north-west to urban centres in the south.

ENDS

(News report from Issue No. 258, published on Nov. 27 2015)