Page 15 - FSUOGM Week 34 2021

FSUOGM NEWS IN BRIEF FSUOGM

security,” the Hungarian minister added. auction selling out within a span of a single first half of 2021 stood at KZT116,803.8mn
“As for the contract, I will come to St. trading day. ($273.55mn), down by 2% from the first
Petersburg on Monday, August 30, to deal Market participants were cited as half of 2020.
with the remaining issues of price and saying that 2,500 tonnes of Turkmenbashi Revenues were hit by low demand that
flexibility. We will discuss all of that in refinery’s PP raffia grade were put up for resulted as a side effect of the pandemic and
person. auction at the State Commodity and Raw the associated restrictions globally.
“Of course, we want to negotiate a price Materials Stock Exchange of Turkmenistan KazTransOil's consolidated net profit
that would reflect not only the current a week earlier than August 18, but there was amounted to KZT33,853.4mn, down by 11%
market situation, but also the fact that so far no demand due to a high starting price of from the first half of 2020.
we have been a transit country for Gazprom $1,650 per tonne FOB/FCA. The company’s non-consolidated revenue
to Serbia, Croatia, Bosnia and Herzegovina, The starting price on August 18 was set for the six-month period of 2021 fell by 3%
and now, with the direction changing, our at $1,300 per tonne FOB/FCA. All deals y/y to KZT 106,239.2mn, while its net profit
transit status will largely be gone and we were agreed at $1,400/tonne, FOB/FCA. The plunged by 23% y/y to KZT26,931.5mn.
will have losses.”pe gas pipeline dropped deals were done with shipment set to take
more than two-fold. place within three months.
Azerbaijan exports 3 bcm of

Kazakhstan focused natural gas worth $774mn
CENTRAL ASIA & SOUTH
Nostrum Oil & Gas posts to Europe in Jan-July
CAUCASUS Azerbaijan exported 3bn cubic metres
Azerbaijan reports $7.8bn of 0.4% y/y revenue decline (bcm) of natural gas worth $773.7mn to
in 1H
Europe in the first seven months of this
1H oil, gas exports UK-based Nostrum Oil & Gas, which year, according to the country’s State
Customs Committee.
Azerbaijan exported oil and gas worth over operates in Kazakhstan, has posted a 0.4% The launch of the Trans-Adriatic Pipeline
$7.75bn in 1H 2021, according to local y/y revenue decline in the first half of this (TAP) as the final section of the Southern
media reporting official statistics. year to $92.3mn, despite higher oil prices. Gas Corridor (SGC) at the end of last year
Oil exports were reportedly up 50% y/y Nevertheless, revenue in the second opened up the EU gas market to Azerbaijan.
to $6.3bn. Gas shipments edged down 0.6% quarter grew by 43% to $46.1mn from Of the total volume of exported natural
y/y to $1.45bn. $32.3mn. The company focused on keeping gas, Italy accounted for 2.5bcm worth
Oil volume was down 4.5% y/y to down costs in the first six months of the $658.3mn. Some 344 million cubic metres
14.4mn tonnes, whereas gas volume was up year. (mcm) valued at $96.1mn were exported to
35.1% y/y to 8.9bn cubic metres (bcm). Nostrum’s pretax loss in the first half Greece and 134.9 mcm worth $19.3mn went
In 2020, Azerbaijan exported 28.3mn narrowed to $34.4mn from $51.1mn. Sales to Bulgaria.
tonnes of oil with a value of $8.5bn and 13.8 costs were 23% lower at $42.9mn from During the reported period, Azerbaijan
bcm of gas for $2.7bn. $63.9mn. General and administrative exported a total of 12 bcm of natural gas
expenses and selling and transportation worth $2bn, with Turkey accounting for 6.7
expenses were 29% and 33% lower, bcm at a value of $974.4mn.
Turkmenbashi refinery respectively. worth $261.7mn were exported to Georgia
In the meantime, 2 bcm of natural gas
"Despite all the uncertainties and
polypropylene export disruptions that Covid-19 and our and 132.8 mcm worth $5mn went to Iran.
restructuring process continues to cause,

auctions held for first time we are showing strong financial and
operational resilience," CEO Arfan Khan
in four months said.

Turkmenbashi refinery held export trades
for its polypropylene (PP) on August 18 KazTransOil’s consolidated
following a four-month break, ICIS-MRC
Price reported on August 20. revenue down 2% in 1H
Demand for PP reportedly registered as
strong with all quantities of PP put up for KazTransOil’s consolidated revenue for the

Week 34 25•August•2021 www. NEWSBASE .com P15