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Energy news
Bulletine Energy 

2017 August 04 ( Friday )  12:03:07
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Oil Production in Azerbaijan Growing since April - Ministry of Energy

Baku/04.08.17/ Turan: Azerbaijan produced an average of 796.7 thousand barrels of liquid hydrocarbons in July 2017, which is 0.38% more than in June.

According to the Ministry of Energy, 745.1 thousand barrels of oil and 51.6 thousand barrels of condensate were produced in Azerbaijan over the past month.

In January 2017, daily oil and condensate production in Azerbaijan was 793.9 thousand barrels, in February - 776.4 thousand barrels, in March - 733.3 thousand barrels, in April - 781.1 thousand barrels, in May - 785.3 thousand barrels, and in June - 793.7 thousand barrels.

According to the Ministry of Energy, the daily volume of export of crude oil from Azerbaijan in July this year amounted to 611.3 thousand barrels of oil, with 51.6 thousand barrels of condensate and 15.7 thousand barrels of oil products.

According to the agreements, Azerbaijan undertook to reduce its own oil production by 35,000 barrels per day - to below 800,000 b / d. Thus, in January-July of 2017 Azerbaijan fulfilled its obligations to reduce production.

As reported, on December 10, 2016, a ministerial meeting of OPEC countries and countries outside the cartel was held. Following the meeting, 11 countries that are not part of OPEC signed an agreement on an agreed reduction in oil production. The reduction in production for the OPEC countries will be 1.2 million barrels per day, and for those not included in OPEC - 558 thousand barrels per day. -0-

SOCAR Increased Drilling Volumes by 35% in January-July

Baku/04.08.17/ Turan: In January-July, the drilling departments of SOCAR increased drilling volumes by 35.3% to 83,462 meters compared to the same period of last year.

The SOCAR informed that in the total volume of drilling operations of SOCAR in January-July of 2017, 77,078 meters were for production drilling, and 6,384 meters for exploration drilling.

In January-July of this year, the drilling departments of SOCAR commissioned 46 new wells, including 8 in July.

In 2016, SOCAR drilling volumes were 105,245 meters. -12B--

SOCAR Produced over 140,000 Tons of Methanol in January-July

Baku/04.08.17/ Turan: SOCAR Methanol produced over 140,000 tons of methanol in January-July of 2017, the company said.

"In 7 months of 2017 the plant produced more than 140 thousand tons of methanol. At the same time, research is currently underway to produce new products for end consumers under the brand Made in Azerbaijan on the basis of SOCAR Methanol production, the report says.

As reported, the maximum productivity of the Azerbaijan methanol plant is 650-700 thousand tons per year. In 2017 the plant plans to produce 250 thousand tons of methanol. Taking into account the regular growth in demand for methanol imports in world markets, the company aims to bring the production capacity up to 500,000 tons of methanol a year in the medium term.

The products produced at the methanol plant are exported mainly to Turkey, the countries of Western Europe and the Mediterranean.

On November 4, 2016, the Ministry of Taxes registered SOCAR Methanol LLC with an authorized capital of 10,000 manat. -12B-

Azerenergy Increased Electricity Production by 1% in January-July

Baku/04.08.17/ Turan: Azerenergy OJSC (state monopolist for electricity production in Azerbaijan) produced 12 billion 836 million kW / h of electricity in January-July 2017.

As Turan was told in the press service of the company, in January-July of 2016 Azerenergy produced 12.7 billion kW / h of electricity. Thus, in January-July 2017, the output growth was 1.1%.

In July of this year, Azerenergy generated 1 billion 883 million kW / h of electricity.

In 2016 Azerenergy produced 22.6 billion kW / h of electricity. -12D--

Gas Supply to Armenia Temporarily Stops from August 3

Baku/04.08.17/ Turan: From August 3, the delivery of gas to Armenia will be stopped for 30 calendar days, Gazprom Armenia reports.

The supply of gas ceases "in connection with the construction of the North Caucasus - Transcaucasia gas main," the company said.

"Gas supply to the republic's consumers will be carried out without restrictions," the report says.

Note that Armenia has the Abovyan underground storage of gas, located near the city of Yerevan. The maximum capacity of the UGS at present is up to 135 mcm of gas. The maximum daily gas withdrawal is 6 mcm.

Within the framework of the investment program of CJSC Gazprom Armenia for 2016-2018, it is planned to expand the underground gas storage: a new compressor station is planned to be constructed with the installation of the newest equipment, and two new wells will be constructed.

According to the development program, the volume of natural gas storage will increase every year, and by 2020 it is planned to increase it to 230 mcm. -0-

Oil Transshipment in Novorossiysk Stopped Because of Storm

Baku/04.08.17/ Turan: Oil transshipment in Novorossiysk has been stopped due to bad weather. It is possible that before August 7 the weather will not normalize.

"Due to the storm Novorossiysk, all works have stopped since yesterday. The wind is 15 m / s, and a tanker is waiting for the weather to improve in the roadstead. Another, loaded yesterday according to the schedule, cannot be removed from the pier due to a strong side wind," the adviser to the President of Transneft, press secretary Igor Demin told the media.

"The storm is forecast until Monday. On Saturday, a break is possible, when the loading will follow the actual weather," he added.

According to him, in other ports the weather is good. Receipt into the system and delivery to the refinery proceeds according to the plan. -0--

Nearly 3.7 Million Tons of Turkmen Oil Transported Through BTC in 2017

Baku/04.08.17/ Turan: According to the results of January-July, 3,683,961 tons of transit oil was transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline. This was reported to Turan by the press service of SOCAR (State Oil Company of Azerbaijan).

It should be noted that the shipper is SOCAR Trading, which delivers Turkmen oil to the Sangachal terminal through the Caspian Sea via tankers. Further the raw materials are delivered to the Mediterranean terminal of Ceyhan via the pipeline BTC.

Transportation of Turkmen oil via BTC (in tons):



Oil Prices Rise

Baku/04.08.17/ Turan: Oil prices rose yesterday, and investors continued to evaluate the US Energy Ministry"s data on energy supplies in the country, published yesterday, writes Dow Jones.

October futures for Brent crude on the London Stock Exchange ICE Futures rose to $ 52.72 per barrel, while WTI rose to $ 49.81.

On Wednesday, the US Energy Ministry reported that the country's oil reserves last week decreased by 1.53 million barrels, while experts from S & P Global Platts on average predicted a decrease of 2.8 million barrels.

Gasoline stocks in the US fell by the end of the seventh week in a row - by 2.52 million barrels. At the same time, the demand for gasoline rose to a historic high of 9.84 million barrels per day.

"A decent portion of excess oil reserves has been reduced, and this process continues and is gaining momentum," the analyst of the consulting company Energy Aspects Richard Mallinson said.

The loading of oil refineries in the US jumped to 95.4% last week, the Energy Ministry said.

Market participants continue to monitor the situation in Venezuela, as the threat of US sanctions against the country's oil sector remains. "Traders are still waiting for signals about how the situation will develop and try to understand how much the volume of oil production in Venezuela can be reduced, as well as the volume of exports if sanctions are introduced," Mallinson said. --0--