Page 17 - FSUOGM Week 21 2022

FSUOGM NEWS IN BRIEF FSUOGM

As part of the transaction, the buyer is commit- ExxonMobil , CNPC, Shell, Total, Inpex and pipeline terminus, claimed by Russia. The route
ted to investing $380mn in the modernisation of Kazakh state oil and gas firm KazMunayGaz. returned to full capacity on April 23 after it had
the plant, the production of gasoline, diesel fuel to work at half capacity due to the alleged storm
and natural gas, the modernisation of oil units Kazakhstan expects oil damage suffered by mooring points on the Black
and ensuring an increase in production capacity Sea coast.
to at least 2mn tonnes/year. output to rise above The CPC pipeline ships around 80% of
Sanoat Energetika Guruhi is the largest pri- Kazakh crude exports.
vate vertically integrated oil and gas company in 90mn tonnes in 2023
Uzbekistan. The company owns the subsoil use
rights to 103 fields, and accounts for about 80% Kazakh Energy Minister Bolat Akchulakov told Turkmenistan is largest
of oil production and about 22% of proven gas Reuters in an interview that Kazakhstan expects
reserves in the country. In addition to oil and to produce 90mn-93mn tonnes of oil next year, supplier of gas to China by
gas production, it processes hydrocarbons into up from 87.5mn tonnes this year, depending on
products with high added value, such as gaso- when expansion projects at the giant Tengiz field pipeline in 4M-20222
line, diesel, oil and aviation kerosene. are completed amid possibilities of delays.
The Chevron-led venture Tengizchevroil ini- Turkmenistan was China’s largest supplier of gas
tially planned to complete one expansion project by pipeline in January-April, sending $2.87bn
Kazakh oil and gas player by March 2023 and the second one by November worth according to Russian energy website Neft-
2023, but Akchulakov said the $45bn expansion egaz.ru, which cited statistics from the Chinese
Nostrum sees revenue rise project could be delayed by several months. General Administration of Customs.
“The big question is the Tengiz Future
Kazakhstan and Uzbekistan were China’s
30% y/yin Q1-2022 Growth Project. There was COVID-19 (which fourth and fifth largest suppliers by pipeline,
delayed work), this year the situation is not opti-
respectively. Kazakhstan sent gas valued at
Nostrum, an Amsterdam-headquartered oil mal either, there are some issues such as supplies $270.6mn and Uzbekistan exported $132.8mn
and gas firm with operations in Kazakhstan, saw of materials,” Akchulakov said in an interview. of gas.
its revenue rising to $60.2mn in Q1-2022 from Akchulakov also noted that Kazakhstan sees Uzbekistan appeared to have restarted gas
$46.2mn a year ago. no impact of Western sanctions against Russia exports to China after halting them at the begin-
Revenue moved higher despite lower sales on the transhipment of Kazakh crude to Europe. ning of this year to meet domestic demand.
volumes as the average realised Brent price However, there has been no announcement from
jumped to $97.9 per barrel from $61.8 within the government of a resumption of supplies.
the year. KazTransOil approves The Central Asia-China pipeline originates
Daily sales volumes averaged 14,059 barrels in Turkmenistan and passes through Uzbekistan
of oil equivalent (boe), down from 17,419 boe dividends based on 2021 and Kazakhstan.
a year ago.
Daily production after treatment shrank to income at AGM
an average of 14,683 boe from 19,341 a year ago. Natural gas swap from
The group expects to complete its restructur- A general meeting of shareholders of Kazakh
ing process by the third quarter. national pipeline operator KazTransOil has Turkmenistan to Armenia
approved the procedure for distributing the 2021
net income of the company and the amount of through Iran set to begin,
Oil output at Kashagan the dividend per one common share, the firm minister says
said in a statement.
nearly halves in May due to amount of KZT10,000,330,574 ($23,322,434.40) Iran’s Petroleum Minister Javad Owji has said
As such, KazTransOil will disburse the
maintenance works for the payment of dividends. the Iranian gas network is ready to begin a gas
The amount of dividends for 2021 per one swap arrangement with Turkmenistan to sup-
Oil output at Kazakhstan’s giant offshore Kasha- common share of KazTransOil will stand at ply Armenia, official news agency Shana has
gan oilfield has nearly halved since May 20 to KZT26. reported.
220,000 barrels per day (bpd) from over 400,000 “Negotiations for a gas swap from Turkmen-
bpd in early May as a result of maintenance istan to Armenia through Iran have started, and
works, two industry sources told Reuters on CPC pipeline group given the high capacity of Iran’s gas distribution
May 25. network, we will soon achieve good results in
The oilfield is carrying out planned mainte- redirects over 500,000 this regard,” Owji was reported as saying.
nance works from May 19 until August 3 with Recent talks with Armenia produced agree-
production expected to be completely halted in tonnes of crude in April ments on increasing exports of gas and petro-
June. chemicals to Iran’s small neighbour, he added.
The decline in output at the field is consist- The Caspian Pipeline Consortium (CPC) redi- For years, Iran and Armenia have exchanged
ent with a drop in overall oil and gas condensate rected 561,000 tonnes of oil via alternative routes gas and electricity, and two-way economic
output in Kazakhstan, which fell on May 22 to in April, Kazinform reported, citing Kazakh and political ties have grown in tandem with
1.66mn bpd from 1.85mn-1.88mn bpd in early Prime Minister Alikhan Smailov. increased trade.
May. The rerouting took place following In 2004, the two countries signed a
The Kashagan consortium includes Eni, announcements of storm damage at the CPC gas-for-electricity barter agreement.

Week 21 25•May•2022 www. NEWSBASE .com P17