The Chevron-led consortium that operates Kazakhstan’s largest oil field, Tengiz, is imposing production cuts in line with government legislation covering May-June and is not yet aware of additional restrictions for Continue Reading
Kazakhstan’s crude oil production has fallen below 1.7 million bpd of crude and condensates, oil analytics firm OilX told Oilprice.com, noting that the giant Tengiz field has seen a jump Continue Reading
The patience of many in Turkmenistan seems to have reached its limit when it comes to poor government services and officials seemingly apathetic to the plight of the average person. Continue Reading
Kazakhstan is in talks with the companies operating its two sizeable offshore oil projects to reduce total output by 22 percent in compliance with the latest OPEC+ production cut agreement. Continue Reading
The government in Kazakhstan has, in the light of the unfolding coronavirus pandemic and the concomitant fall in global oil prices, revised its economic projections for this year to forecast Continue Reading
Loadings of Kazakhstan’s CPC crude grade spiked to a record-high 1.65 million b/d in March propelled by production from the giant Tengiz and Kashagan fields, the pipeline’s operator said in Continue Reading
The leaders of several former Soviet republics in Central Asia and elsewhere are still denying the severity of the coronavirus pandemic , weeks after most other governments abandoned that approach. Continue Reading
Demand for dollars has spiked in Azerbaijan amid fears of another currency devaluation following a plunge in oil prices. A feud between Saudi Arabia and Russia led to a sharp Continue Reading
Some of the world’s first ever commercial oil wells were operational near Baku in 19 th century Imperial Russia in today’s Azerbaijan. The oil abundance produced some of the wealth Continue Reading
The tropical Maldives may lose entire islands unless it can quickly access cheap financing to fight the impact of climate change, its foreign minister said. The archipelago’s former president Mohamed Continue Reading
Three decades after gaining independence, Azerbaijan and Kazakhstan face a growing struggle convincing investors and markets of the potential for significant new oil opportunities in the Caspian region. Receive daily Continue Reading
Russia’s mega-project to export its gas to China, the Power of Siberia pipeline, came online December 2. By 2024, the pipeline is expected to deliver 38 billion cubic meters (bcm) Continue Reading
Oil production at one of the world’s largest offshore oil fields, Kashagan in Kazakhstan, has dropped by 80,000 barrels per day since early October because of unplanned maintenance, Kazakhstan’s energy Continue Reading
Kazakhstan’s North Caspian Operating Company, which manages the giant Kashagan oil field, is planning further production increases after recent upgrade and maintenance work, and aims to present a new project Continue Reading
Kazakhstan has snubbed a top Chevron official over unrest at the giant Tengiz oil field, operated by the company’s Kazakh joint venture Tengizchevroil (TCO), as new President Kassym-Jomart Tokayev welcomed Continue Reading
The giant Kashagan oil field in Kazakhstan hit a record-high oil production of 400,000 bpd on Tuesday, a few weeks after returning from planned maintenance, three sources familiar with the Continue Reading
The giant Kashagan oil field in Kazakhstan hit a record-high oil production of 400,000 bpd on Tuesday, a few weeks after returning from planned maintenance, three sources familiar with the Continue Reading
France’s oil and gas major Total is looking to sell a third of its 17-percent interest in the giant Kashagan oil field in Kazakhstan, aiming to raise up to US$4 Continue Reading
Tokyo — Production at the giant Kashagan oil field in Kazakhstan’s sector of the Caspian Sea restarted Sunday following the completion of scheduled maintenance, a source with a partner in Continue Reading
BP PLC and its partners will lead a $6 billion development of the giant Azeri-Chirag-Deepwater Gunashli oil-field complex offshore Azerbaijan, the U.K. oil major said Friday. The Azeri Central East Continue Reading
Turkmenistan has resumed natural gas exports to Russia after a three-year suspension, Russian gas giant Gazprom said on Monday, confirming a report by Turkmen news website Orient.tm. “Supplies are taking Continue Reading
A major challenge for Central Asia’s oil and natural gas industry has always been how to transport petroleum products from the landlocked region to global markets. That issue resurfaced last Continue Reading
Kazakhstan has postponed the listing of its state oil and gas firm KazMunayGas (KMG) until after 2019, due to worsening market conditions and Brexit uncertainty that could dampen investor appetite Continue Reading
It was a hot July morning in 2000 when a helicopter carrying Kazakhstan’s President Nursultan Nazarbayev landed on a drilling barge on the Caspian Sea. An anxious-looking Nazarbayev emerged from Continue Reading
Chevron announced last week its capital and exploratory budget for 2019, which sees the first annual increase in spending since the 2014 oil price crash. While most of the investment is geared toward short-cycle Continue Reading
Since the oil industry started to recover from the 2014 price crash, U.S. supermajors ExxonMobil and Chevron have been re-aligning their global operations with their longer-term priorities, betting more on Continue Reading
Exxon Mobil ( XOM.N ) and Chevron ( CVX.N ) are seeking to sell their stakes in Azerbaijan’s largest oilfield, marking the retreat of the U.S. majors from the former Continue Reading
Russia’s Gazprom plans to resume imports of gas from Turkmenistan at the start of 2019, CEO Alexei Miller said this week, having ceased purchases in January 2016 on poor economics. Continue Reading
Energy majors developing the Karachaganak gas condensate field will pay $1.1 billion to Kazakhstan to settle a profit-sharing dispute, Kazakhstan’s Energy Ministry said on Monday. Kazakhstan and the consortium led Continue Reading
Turkmenistan completed an upgrade of its largest electric power plant on Saturday, which it hopes will help boost exports and eventually allow supplies to Pakistan, which would require the construction Continue Reading
Castigated by U.S. President Donald Trump as relying too much on Russian gas supplies, German Chancellor Angela Merkel heads to Azerbaijan this week to discuss the development of a southern Continue Reading
The Uzbekistan government and Rosatom have reached an agreement to build the first nuclear power plant in the country, with commercial operations targeted to start by 2028, in an effort Continue Reading
Amid much (obligatory) fanfare, Turkmenistan has intensified its spin campaign on TAPI, the long-delayed pipe dream of President Gurbanguly Berdymuhamedov which is supposed to supply Afghanistan, Pakistan and India with Continue Reading
The outlook for a pipeline company that controls about half of the oil flow in Kazakhstan remains stable and supportive of growth, Fitch Ratings said. Fitch Ratings affirmed a BBB-rating Continue Reading
After the steady buildup of a burgeoning strategic partnership between the Russian national oil company and Kurdistan’s Regional Government (KRG), the year 2018 threw cold water on the ambitious plans Continue Reading
The Organization of the Petroleum Exporting Countries and Azerbaijan are discussing deepening cooperation, including possible Azeri membership of OPEC, two sources familiar with the talks told Reuters on Monday. Azerbaijan, Continue Reading
Kazakhstan’s sovereign wealth fund has offered to Shell up to a 20 percent stake in KazMunayGas (KMG) in a bid raise the value of the state oil company ahead of Continue Reading
For at least $150 million, services company Subsea 7 will support BP operations off the coast of Azerbaijan in some of the largest oil and gas fields in the world. Continue Reading
The grids of Turkmenistan, Afghanistan and Pakistan could be connected to bolster regional energy security, a regional lender said. File photo by Jawad Jalali/EPA-EFE Feb. 28 (UPI) — The electricity Continue Reading
Kazakhstan’s giant Kashagan oil field is achieving new production highs every month and has done better than 300,000 b/d, but development beyond the current phase is likely to be about Continue Reading
Kazakhstan aims to increase crude and gas condensate production by nearly 25% to 2.155 million b/d by 2025, according to the country’s development strategy released Tuesday. Kashagan and Tengiz key Continue Reading
It could take the rest of the year for the Kashagan oil field in the Kazakh waters of the Caspian Sea to reach its full design capacity, the operator said. Continue Reading
The Southern Gas Corridor, connecting Azerbaijan to the world’s largest economic block, is one of the most important infrastructure pipeline projects worldwide, bringing Caspian gas into Europe. Europe wants to Continue Reading
Yesterday’s monthly oil market report from OPEC showed that oil production from Kazakhstan likely increased by 180,000 bpd in 2017 to 1.74 million barrels per day. Such a rise gives Continue Reading
Moldovan businessman Anatolie Stati will ask courts to sell US$5.2 billion worth of a stake in Kazakhstan’s biggest oil field, Kashagan, held by a Kazakh sovereign wealth fund if Kazakhstan Continue Reading
Italian energy company Eni said Friday it grabbed a stronger hold over a reservoir in Kazakhstan it said has a “significant” potential for oil resources. The Kazakh government and a Continue Reading
A strike by coal miners in north-central Kazakhstan has spread to more mines as hundreds of workers are refusing to return to the surface, demanding higher salaries and better benefits. Continue Reading
Kazakhstan hopes to settle a dispute with global energy companies developing the Karachaganak gas condensate field in the coming weeks, Energy Minister Kanat Bozumbayev told reporters on Monday. “I hope Continue Reading
Uzbekistan is in the grip of another fuel crisis, with some parts of country reportedly left without any supplies of gasoline. While the Central Asian republic has regularly experienced fuel Continue Reading
Azerbaijan is ready to get in line behind any extraordinary effort needed to stabilize the market if a plan develops, its energy minister said Friday. Members of the Organization of Continue Reading
