Tag Archives: Caspian Sea States

The reductions will be on the same terms as those agreed in November.

Whatever the outcome. after several years of stagnation since 2010. Kazakh crude output will rise in both mid- and long-term.

Vitol. the world’s largest independent commodity trader. is increasing its export prepayment deals to secure more oil trade with cash-strapped producers.

TAP’s shareholding is comprised of BP (20 percent). SOCAR (20 percent). Snam S.p.A. (20 percent). Fluxys (19 percent). Enagás (16 percent) and Axpo (5 percent).

Kazakhstan is ready for international cooperation in development of sustainable energy to find solutions to the energy crisis.

In the newly signed contract. Azerbaijan’s share of the oil will be 75 per cent. and bonus payments by foreign investors will reach $3.6 billion.

Under a new draft agreement SOCAR’s share would rise to 25 percent from 11.65 percent.

Construction and assembly works on the new project. proposed by the plant. have been started to improve the process of separating oil products from industrial water.

Trio plus Kazakh agree to keep all options open including the possible extension of output cuts beyond next March.

SOFAZ was established in Azerbaijan in 1999 and the Fund’s main source is revenues from the sale of oil and gas that account for the state share.