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Bağla

Energy news
Bulletine Energy 


2017 July 19 ( Wednesday )  10:34:26
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Русский 

 

Oil Production Decreased by Almost Two Million Tons in Azerbaijan

Baku/19.07.17/ Turan: According to the results of the first half of 2017, Azerbaijan produced 19 million 161 thousand tons of oil, which is 9% less than the same period last year. This was reported in the monthly report of the State Statistics Committee of Azerbaijan.

According to the report, the volume of commercial oil production in the country amounted to 19 million 137 thousand tons (a decline of 9%). In January-June, 2016, Azerbaijan produced 21 million 37.7 thousand tons of commercial oil. For the first half of the year, the volumes of commercial oil decreased by 1 million 900.7 thousand tons.

The production of commercial gas for the first half of 2017 in Azerbaijan amounted to 9 billion 343.2 mcm (a decline of 0.2%). At the same time, the total volume of produced gas amounted to 14,115.2 mcm (a decline of 5.4%).

In 2016, oil production in Azerbaijan, including gas condensate, amounted to 41 million 29.5 thousand tons, gas - 29,331.3 mcm. -0

Azerbaijan Nullifies Customs Rate on Imports of Gasoline for Three Months

Baku/19.07.17/ Turan: The Cabinet of Ministers of Azerbaijan has approved new rates of excises for gasoline imported to the republic.

By the government's decision, the excise rates for imported gasoline with lead content of not more than 0.013 grams per liter and octane number less than 95 and 92 were reduced from 200 manat to 1 manat per ton.

This decision came into force on July 18, and will be valid for 90 days.

In addition, with the decision of the Cabinet, from July 18, 2017 for 90 days, customs duties on import of motor gasoline AI-95 and AI-92 to Azerbaijan have been reduced from 15% to zero.

The relevant decisions were taken by the government on the basis of the proposal of SOCAR.

It should be noted that in the first decade of August 2017 the State Oil Company of Azerbaijan plans to stop the only refinery in the country, named after Heydar Aliyev, for a month for scheduled repairs. During this period, work will also be carried out to modernize the refinery.

The accumulated fuel reserve may not be enough to meet demand, so SOCAR will have to import motor gasoline. To ensure that prices for imported gasoline do not rise in a short period, the government had to apply such a mechanism. -12B

Status of Caspian Sea Agreed Upon by 80% - Minister

Baku/19.07.17/ Turan: The final document on the status of the Caspian Sea has been agreed upon by 80%, and an atmosphere of dialogue and mutual understanding has formed between the parties. Azerbaijani Foreign Minister Elmar Mammadyarov said this in an interview with RIA Novosti.

"To determine the legal status of the Caspian Sea, there is a working group at the level of Deputy Foreign Ministers. Despite the fact that it has not been possible to reach a final consensus so far, a dialogue and an atmosphere of mutual understanding has formed between the parties. About 70-80% of the final document has already been agreed," Mammadyarov said.

According to him, the Caspian Sea is "not a dividing, but uniting wealth."

"A positive fact is that the Caspian states have been able to approach the solution step by step, uniting efforts. Despite the fact that the legal status has not yet been determined, a legal framework has been formed on cooperation in the conservation of the flora and fauna of the Caspian Sea, mutual assistance in emergency situations, in the fight against terrorism and other areas. This gives us the basis for further progress on the issue of the final definition of the legal status of the Caspian," he added. -0

Export of Gas from Shah Deniz in First Half of 2017 Increased by 6%

Baku/19.07.17/ Turan: The export of Azerbaijani gas in the framework of the Shah Deniz-1 project in the first half of 2017 amounted to 3,801.2 mcm, which is 5.8% higher than the same period last year.

As reported by the State Statistics Committee, the share of gas exports from the Shah Deniz field accounted for 33.2% of all gas transported by trunk gas pipelines.

According to statistics, in general, Azerbaijan's main gas pipelines transported 11,428.9 mcm of gas in H1 of 2017, which is 10.2% higher than the same period last year.

In 2016, gas exports from the Shah Deniz field amounted to 7,145.1 mcm. Gas is exported to the markets of Turkey and Georgia. -12B-

SOCAR Capital Pays Dividends

Baku/19.07.17/ Turan: The third payment in the amount of $ 1.25 million on interest to holders of SOCAR bonds was made, SOCAR Capital reported.

"On July 17, interest holders were paid interest on the bonds of SOCAR for a total of $ 1.25 million. These funds are transferred to the bank accounts of bondholders, which they can use at their discretion," the report said.

According to SOCAR Capital, the volume of deals on bonds on the secondary market since the issue of the bonds exceeded $ 90 million. Only in the first half of 2017, in the secondary market, 51.62 thousand bonds of SOCAR were sold and traded at $ 52 million.

The next interest payment to holders of SOCAR bonds will be made on October 17, 2017.

In September 2016, SOCAR carried out the first issue of bonds worth $ 100 million on the domestic market. Applications for the company's bonds exceeded $ 203.4 million.

Yield on the bonds is 5% per year. Payment of interest is carried out once a quarter. -12B

SOCAR Increases Number of Filling Stations in Romania to 38

Baku/19.07.17/ Turan: SOCAR has put into operation a new filling station in Romania, according to the website of the State Oil Company.

"The filling station was put into operation in the Timis region, along the highway connecting Romania with Hungary. Taking into account this station, the total number of filling stations under the brand SOCAR in Romania has reached 38," the information says.

At present, the filling stations under the brand SOCAR operate in 18 regions of Romania.

As reported, in 2017 the company plans to open 10 filling stations in Romania.

SOCAR started its activity in the market of retail trade in petroleum products in Romania in 2011. So far, SOCAR has invested more than $70 million in the creation and expansion of its own network of gas stations in Romania. -0-

Assets of Oil Fund Increased by 5% in First Half of 2017

Baku/19.07.17/ Turan: SOFAZ's assets in the first half of 2017, compared to the beginning of the year, increased by 4.96% or $ 1 billion 643.9 million - to $ 34 billion 790.9 million, the report of the Oil Fund says.

"The growth of assets was first of all positively affected by the exchange rate difference of the currencies that make up the structure of the Fund's investment portfolio, as well as the increase in the value of assets," the report says.

The Fund's revenues for the first half of 2017 amounted to 6 billion 127.2 million manat ($ 3 504.7 million), and its expenses were 5 billion 533.8 million manat ($ 3,165.3 million). -0-

Oil Fund Transfers 74.5 Billion Manat to State Budget

Baku/19.07.17/ Turan: The total amount of transfers to the state budget of Azerbaijan from the State Oil Fund (SOFAZ) from 2003 to June 30, 2017 amounted to 74 billion 508 million manat.

According to the SOFAZ, including for the first half of 2017, the volume of transfers from SOFAZ to the state budget amounted to 2 billion 991 million manat.

* The State Oil Fund started to transfer funds to the state budget of Azerbaijan in 2003. -12B

Turkey Earns $ 8 Billion from Azerbaijani Projects

Baku/19.07.17/ Turan: To date, the Turkish state and the Turkish companies have earned over $ 8 billion for the implementation of the Baku-Tbilisi-Ceyhan (BTC), Trans-Anatolian Gas Pipeline (TANAP) and Shah Deniz projects. This statement was made for Turkish journalists by the Executive Director of BP for global processing and marketing Tufan Erginbilgic.

"We work together with the Turkish TPAO and BOTAS in the development projects of the gas condensate field Shah Deniz and BTC. BP estimates that the total contribution to Turkey of the projects BTC, TANAP and Shah Deniz exceeds $ 8 billion. This includes investments and paid shares," the representative of BP noted.

According to him, from the implementation of these projects, Turkey in the future expects to receive another $ 15 billion.

It should be noted that among these projects, TANAP, worth $ 8.5 billion, is considered the most important for Turkish entrepreneurs. Local companies participate in all lots of the pipeline construction in contract and subcontract works. Currently, Turkey is represented in the pipeline company TANAP A.S. by the state-owned company BOTAS, which has 30%.

In the Shah Deniz project, the Turkish state-owned company TPAO initially had a 9% stake, but in May 2014 it acquired a 10% stake from the French Total, bringing its participation to 19%.

From the BTC project, Turkey earns as a transit country, as well as the shareholder of the pipeline company BTC Co. In the company it is represented by the state company TPAO (6.53%). -12B-

Gazprom"s Exports Increased by 11% in H1 of July

Baku/19.07.17/ Turan: Export of Russian gas to the far abroad for the first 15 days of July 2017 amounted to 7.2 bcm, which is 11% more than for the same period in 2016, as it follows from the operational data of Gazprom.

The demonstrated dynamics is in a trend with the dynamics of May and June (within 8%), even despite the beginning of the repair work on European gas pipelines.

According to the press service of Gazprom, "the volume of export of Russian gas to non-CIS countries grew by 11.3 bcm in six months and a half, or by 12.3% compared to the same period in 2016. The consumers were supplied 102.9 bcm of gas." In particular, supplies to the countries of North-West and Central Europe increased, for example, to Germany - by 16.7%, Austria - by 77.2%, the Czech Republic - by 24.8%, and Slovakia - by 25.8%.

"From January 1 to July 15, 2017, the Gazprom Group produced 248.8 bcm of gas - 39.3 bcm or 18.8% more than in the same period last year," Gazprom also reports.

It follows that production in the first 15 days increased by 25% - to 16 bcm. -0