• KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01148 0%
  • KZT/USD = 0.00221 0%
  • TJS/USD = 0.09231 -0.97%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 387

Virtual Standstill in Tajikistan’s Baljuvan Oil Production

Production of oil and gas in the Baljuvan district in the southern mountains of Tajikistan, has virtually ceased. It previously  provided natural gas to the neighbouring districts of Khovaling, Vosei, and Kulyab, According to the authorities, oil reserves in the area of Khatlon Oblast have all but disappeared.  Baljuvan's oil wells currently reach a depth of 2,400 meters and for production to continue, wells must now be drilled to a depth of up to 6,000 meters . Referencing  the situation, district chairman Bakhtiyor Safarzoda said, "Unfortunately, the same volume of oil is not being produced today as it was under the Union. The equipment here is already physically obsolete and worn out." Attempts to attract foreign investment in oil production in Baljuvan have now been ongoing for several years and a visit by Chinese investors to the wells two years ago, came to nought. According to the chairman of the Baljuwan district, foreign companies which initially agreed to develop new oil wells, reversed their decision after familiarizing themselves with the field, its characteristics, and forecasts. It should be noted that Tajikistan's proven reserves of oil raw materials are insignificant, amounting to 2.2 million tons, and the country's registered oil fields amount to just 28.

Turkmenistan and UAE Expand Cooperation in Oil and Gas

Turkmenportal reports that prospects for further cooperation in the fuel and energy sector were the focus of recent discussions between Chairman of the Khalk Maslakhaty of Turkmenistan, Gurbanguly Berdimuhamedov, and the Executive Director of Dragon Oil Company, Ali Rashid Al-Jarwan. According to the publication, Turkmenistan and the UAE are among the richest countries in the world in terms of natural gas and oil reserves and both have extensive experience in developing the oil and gas industry. Dragon Oil has now been  operating in Turkmenistan for a number of years. Commenting on the UAE's positive relationship with the country Al-Jarwan  expressed gratitude for the opportunity to work in Turkmenistan. Berdimuhamedov in turn, emphasized that the  active bilateral interaction enjoyed by the parties was due to the joint efforts of the countries' leaders and expressed Uzbekistan's readiness to further expand productive cooperation with Dragon Oil . Both sides expressed confidence that their existing mutual interests would provide a strong basis for more fruitful cooperation in the oil and gas sector.

Erdogan: Turkmenistan Gas Exports to Turkey “Only a Matter of Time”

Turkey's president Recep Tayyip Erdogan has said that it is "only a matter of time" before gas from Turkmenistan is exported to Turkey and Europe through the expanded Trans-Anatolian Gas Pipeline (TANAP) project. “Our long-standing cooperation, crowned with infrastructure investments such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Erzurum pipelines, and TANAP, has not only benefited Turkey and Azerbaijan but has also made significant contributions to the energy security of the region and Europe,” Erdogan said at the International Caspian Oil and Gas Exhibition in Azerbaijan's capital of Baku. Two gas routes from Turkmenistan to Azerbaijan are being reported. The Turkish Daily Sabah reports that this plan involves transporting gas by sea on gas carrying ships. Upstream, citing experts, reports that SOCAR will start negotiations with Turkmenistan on the resumption of gas supply through Iran under the exchange scheme. On June 4th, Turkey’s Botas Petroleum Pipeline and Azerbaijan’s SOCAR also signed agreements to promote an intergovernmental deal calling for cooperation on natural gas issues reached in May. In one of the five signed contracts, Botash and SOCAR must jointly organize the natural gas supply from Turkmenistan to Azerbaijan and then through Turkey to other countries.

Nazarbayev In-Law, Askar Kulibayev’s Oil Terminal Seized

Representatives of the General Prosecutor's Office of Kazakhstan have reported that an oil terminal in the port of Aktau belonging to Askar Kulibayev has been returned to the state. The 134-hectare property is valued at $66 million. “It was established that in 2011, the oil terminal was alienated into the ownership of Kulibayev's company. On February 26th, 2024, by the decision of the Specialized Inter-district Economic Court of Mangistau region, the claim of the Almaty city prosecutor was satisfied, and the oil terminal was returned to the state's ownership," said the supervisory body. The Almaty prosecutor's office stated that the claim was filed to compensate for the damage caused by the unlawful seizure of a foreign investor's property. However, the official message does not name the affected company. Now 87-years-old, Askar Kulibayev served as First Secretary of the Guryev (now Atyrau) Regional Committee of the Communist Party of Kazakhstan and as the Minister of Construction in independent Kazakhstan. He is the matchmaker of former President Nursultan Nazarbayev's daughter, and the father of Kazakhstan's richest man, Timur Kulibayev. In 2024, Timur Kulibayev and his wife Dinara Kulibayeva, still sit atop the list of the richest Kazakhs. The combined fortune of the Nazarbayev family is estimated at almost $10 billion.

Poland and Russia Ensure Continued Transit of Kazakh Oil to Germany

Pipeline operators PERN (Poland) and Transneft (Russia) have agreed to ensure the continued transit of Kazakh oil to Germany,  reported Reuters. The Druzhba pipeline runs through Russia to the Belarusian city of Mozyr, after which it splits northwards in the direction of Poland and Germany, and southwards, to Hungary, the Czech Republic, Slovakia and Croatia. The northern pipeline has the capacity to  carry  two million barrels of oil per day from Kazakhstan into Poland. Back in  April, Transneft warned Kazakhstan that the transit of its oil to Germany could cease as a result of the situation concerning the certification of oil flow meters in Poland. The devices must be periodically certified for compliance with Russian standards and the verification of oil flow meters on the Polish section of the Druzhba pipeline must be completed by June 5. To  address the issue , the  Polish pipeline operator PERN, Russian state-owned Transneft, and German refiner PCK Schwedt, which receives supplies from Kazakhstan, have agreed that the German company will maintain oil flow meters on the Polish section of the Druzhba pipeline. The work required to maintain metering on the Polish section and in turn, remove the risks imposed by  PERN's sanctions,  are to be undertaken by an unnamed Slovak company.

Turkmen Gas to Europe Mooted Again

Turkmenistan and Pakistan intend to independently finance the construction of the TAPI gas pipeline (Turkmenistan-Afghanistan-Pakistan-India) to transport Turkmen gas to Europe, according to a statement made by Pakistani Minister, Musadiq Malik, who said the decision was driven by the international community's reluctance to recognize the Afghan government, which has stalled foreign funding. "Turkmenistan, rich in gas reserves and currently only selling to China, has considered exporting its gas to Europe via an LNG train," Malik was quoted as saying by the Profit portal. The minister also talked about the idea of exporting Turkmen gas to the EU via Pakistan. According to this plan, the gas would be piped to Pakistan, and then transported to Europe by rail. According to previous agreements, the $10 billion TAPI gas pipeline project was to be 30% financed ($3 billion) by the participants, and 70% ($7 billion) by loans from international financial institutions. Of the 30% to be allocated by the participating countries, 85% ($2.55 billion) was from to Turkmenistan, and the other 5% ($150 million each) from Afghanistan, Pakistan and India.

Start typing to see posts you are looking for.