Page 20 - FSUOGM Week 49

FSUOGM NEWS IN BRIEF FSUOGM

CENTRAL ASIA & SOUTH least March. for Kazakhstan’s main crude exports across
Azerbaijan’s commitment, according southern Russia to the Black Sea. The decline
CAUCASUS to the new “Declaration on Cooperation” from its peak in Novorossiisk loadings
released by OPEC+, will be to increase this year was partly due to Kashagan and
Azerbaijan’s SOCAR opens oil production by 8,000 b/d and keep Tengiz fields accounting for most of OPEC+
production cuts. Kazakhstan is among
production at the level of 595,000 b/d.
200th Swiss petrol station Shahbazov said: “The sustainability of the nations seen as pushing for a relaxation
Azerbaijan Energy Minister Parviz
of collective production cuts at this week’s
SOCAR Energy Switzerland has opened its current optimism of the oil market depends OPEC+ talks.
200th petrol station in the European country, on our support. We must control the supply CPC is considered a light sweet crude
APA reported on December 6. until there is confidence that oil demand will with an API gravity of 44-45.
Azerbaijan entered the Swiss petrol recover. In this regard, the gradual easing November’s CPC loadings in November
market in 2012 when SOCAR purchased of existing production restrictions and a included crude from Tengiz oil field in the
all of ExxonMobil’s shares in Esso Schweiz. gradual increase in production will provide amount of 541,000 bpd, a 25% decline from
The Azerbaijani national oil company has an opportunity to revive and balance the March levels, and Kashagan (267,000 bpd),
continued to invest in the low-margin market.” which saw a 43% drop.
market with modern technology and by “500,000 bpd from January is not the The December 1 data also demonstrated
overhauling older fuel sites. nightmare scenario that the market feared, an increased share of Russian crude in the
“With the opening of SOCAR Stalvedro but it is not what was really expected weeks total loading volumes - the pipeline picks
(198.), SOCAR Meiringen (199.) and ago,” said Rystad Energy senior oil markets up some crude produced at Lukoil-operated
SOCAR Innertkirchen (200.) we have analyst Paola Rodriguez Masiu. “Markets fields in Russia's segment of the Caspian
reached a big milestone on the way to a are now reacting positively and prices are Sea, though the pipeline is mainly dedicated
dense network of petrol stations,” said the recording a small increase as 500,000 of extra to Kazakh crude. The share still stood at a
company in a statement. supply is not deadly for balances,” she added. relatively low level of 191,000 bpd.
In 2012, SOCAR signed an agreement
with Exxon Mobil to acquire its Swiss branch
Esso Schweiz for $330mn (€297mn). With Rothschild & Co offers to Kazakhstan to launch
the purchase, SOCAR Socar absorbed
Esso Schweiz’s retail network and the assist Uzbek oil and gas international centre for
company’s division for the marketing of fuel
to industrial and wholesale customers (the companies with IPOs oil & gas engineering
division sells household fuel and bottled
gas to independent distributors throughout Uzbek Energy Minister Alisher Sultanov held development
Switzerland). talks with the managing director of Rothschild
The oil-and-gas giant has taken over & Co after which he said that the experience Kazakhstan is planning to launch an
a number of gas distribution companies, of the independent financial advisory group in International Centre for the Development
including Wangen-Olten, as well as joint implementing major investment projects, as of Oil and Gas Engineering, the office of the
ventures specialising in aircraft refuelling at well as in supporting privatisation processes, Kazakh prime minister said on December 1.
Geneva and Zurich airports and the Swiss was of interest to the energy industry of The new centre will aim to increase local
Provision and Supply Company that controls Uzbekistan. content in the domestic oil and gas industry
joint ventures managing terminals and The managing director, Arielle Malard in new industrial enterprises and service
pipelines. de Rothschild, underlined the significant centres and promote investment activities.
SOCAR, Azerbaijan’s sole producer of oil international experience of her company in The centre is set to operate on a non-profit
products, owns two oil refineries and petrol providing consulting services for renewable basis with a funding channel from operators
stations in Azerbaijan, Georgia, Ukraine, energy projects, as well as in issuing of Kazakh oil and gas projects.
Romania and Switzerland. bonds, transforming large companies and “This initiative will provide additional
The company is also the co-owner conducting initial public offerings (IPOs). support to domestic producers and will
nd controlling owner of Turkey’s largest Rothschild & Co affirmed its readiness to contribute to their maximum involvement
petrochemical company, Petkim, and provide Uzbek oil and gas companies with in purchases carried out by operators of
maintains various other assets in Turkey. assistance in conducting IPOs. oil and gas projects. The centre will use
Subsidiaries include Azneft (producing oil the experience of similar research and
and gas onshore and offshore), Azerkimya development centres created by Shell and
(chemical company) and Azerigaz. Kazakh CPC crude blend ENI,” the office of the Kazakh prime minister
It also has a number of processing and said.
service enterprises and units involved in loadings rise slightly in Kazakh Energy Minister Nurlan Nogayev
geophysical and drilling operations. signed an agreement on establishing
November but stay 25% the centre alongside representatives of
consortiums of international oil producers -
Azerbaijan backs OPEC+ below March peak Karachaganak Petroleum Operating (KPO),
North Caspian Operating Company (NCOC)
deal on easing cuts Kazakhstan's CPC crude blend loadings and Tengizchevroil (TCO). The agreement
at Novorossiisk rose by 16,000 barrels per
was also co-signed by the ministry of
Azerbaijan supports the decision of OPEC + day (bpd) to 1.24mn bpd in November, but industry and infrastructure development,
to increase oil production by 0.5mn barrels a remained 25% below their peak in March, the union of machine builders of Kazakhstan
day in January, its Energy Ministry has said. according to data from the terminal operator. and the union of oilfield service companies. .
Ahead of the meeting the production Oil blended for the CPC route is known
cartel was widely expected to extend as CPC Blend - the route is operated by the
production cuts of 7.7mn b/d through at Caspian Pipeline Consortium and accounts

P20 www. NEWSBASE .com Week 49 09•December•2020