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Supply & Demand

BTC, Botas agree new pricing for gas at BTC pipeline pumping stations

BTC, the operator of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline, and Turkey's Botas International have agreed amendments to a deal on transporting oil via the BTC pipeline, the Turkish newspaper Hurriyet reported on Monday, citing Turkish Energy and Natural Resources Minister Taner Yildiz.

31 October 2011
Companies & Finance

TNK-BP signs deal with HRT for 45% of Solimões project in Brazil

TNK-BP has signed a farm-in and joint operating agreement with Brazilian independent HRT Participações em Petróleo for 45% of its assets in the Amazon’s Solimões Basin.

31 October 2011
Companies & Finance

Gazprom production and market share falls in October

Gazprom produced 43.4 billion cubic meters of gas in October, according to the initial figures provided by Russia’s Fuel and Energy Dispatch Center – a 6% decrease compared to October 2010.

31 October 2011
Supply & Demand

SOCAR signs gas transport agreements with Turkey for Shah Deniz Phase-2

A series of agreements will provide for the transit of gas from Azerbaijan’s Shah Deniz Phase 2 to Turkey between 2017 and 2042, president of the State Oil Company of the Azerbaijani Republic (SOCAR) Rovnag Abdullayev said in an interview on the Azerbaijani television station ANS on Friday.

28 October 2011
Policy & Regulation

Audit Chamber criticises Energy Ministry management of production sharing agreements

Russia’s Audit Chamber, the country’s budgetary watchdog, said the Energy Ministry is doing a poor job as the government agency responsible for managing production sharing agreements (PSA).

28 October 2011
Exploration & Production

Shale’s ‘almost unimaginable’ threat to Russia

A report released by the Economist Intelligence Unit states that for Russia’s Gazprom, the potential for shale poses a threat to its grip on the European market.

27 October 2011
Pipelines, Storage & Power

Gazprom eyes power generation projects in Japan

Russian energy giant Gazprom is seeking to join power generation projects in Japan following talks with the heads of Japanese power companies Mitsui, Mitsubishi and Tepco, Gazprom’s Deputy Chief Executive Alexander Medvedev said in a statement on Thursday.

27 October 2011
Policy & Regulation

KazMunaiGas shares up for grabs at People's IPO in 2015

In an effort to boost the country’s dormant stock market, shares of the Kazakh oil and gas company KazMunaiGas will be floated as part of the country’s five-year IPO program.

27 October 2011
Pipelines, Storage & Power

Gazprom studies Kovykta resources in Chayanda project

Russian gas giant Gazprom is laying the groundwork for investment in the opening of the Kovykta gas condensate deposit as part of the development of the Chayanda oil and gas condensate field.

26 October 2011
Pipelines, Storage & Power

Turkey, Azerbaijan sign long-awaited gas transit agreement

Turkey and Azerbaijan signed a long-awaited agreement on Tuesday to allow the transit of some 10 billion cubic metres of Azeri gas to Europe, resolving one of the final obstacles preventing the opening of a southern corridor to allow gas to flow from the Caspian to the European Union.

26 October 2011
Policy & Regulation

EC refuses to sign cross-border project agreement

The European Commission has rejected the idea of signing an intergovernmental agreement with Russia to establish the legal framework for trans-border energy projects, including the South Stream gas pipeline project, a source in the Energy Ministry told Interfax on Tuesday.

25 October 2011
Companies & Finance

Vekselberg says relations between TNK-BP shareholders positive

Relations between TNK-BP shareholders are positive, Viktor Vekselberg, major shareholder of the Alfa-Access-Renova (AAR) consortium, which co-owns TNK-BP, said.

25 October 2011
Companies & Finance

KazMunaigaz’ embarrassment of riches

KazMunaigaz has made concrete plans to spend billions over the next few years to maintain its oil and gas output.

25 October 2011
Exploration & Production

Foreigners will be actively involved in Eastern Gas Program - Shmatko

Russia is ready to intensify talks with foreign companies on implementing the updated Eastern Gas Program, Russian Energy Minister Sergei Shmatko told journalists on Monday.

24 October 2011
Exploration & Production

Full-scale production on Russia's continental shelf expected to begin in 2026

Production on Russia's continental shelf will play a significant role in the country's fuel and energy balance from 2026 onwards, Russia’s Natural Resources Ministry told Interfax on Monday.

24 October 2011
Pipelines, Storage & Power

Greek minister lobbies lobby for ITGI project in Baku

The implementation of the ITGI (Interconnector Turkey-Greece-Italy) pipeline project could open the way for strategic cooperation between Azerbaijan and Greece, Greece's Environment, Energy, and Climate Change Minister George Papaconstantinou said on Monday.

24 October 2011
Companies & Finance

TNK-BP's Barsky to step down

Maxim Barsky, the deputy chief executive of TNK-BP and CEO designate, is to leave his position on 1 November in order “to carry on his professional career outside of the company”, according to a statement released online on Friday.

21 October 2011
Exploration & Production

Kazakhstan is a place where ‘business can be done’

Total’s Senior Vice President of Europe and Central Asia, Michael Borrell, talks exclusively to Interfax about Azerbaijan’s future export strategy and the potential impact of Total’s discovery i

21 October 2011
Companies & Finance

Barsky reportedly leaving TNK-BP

TNK-BP deputy chief executive Maxim Barsky, who has long been the only remaining candidate for the top job at the Russian-British oil company, is leaving the company, several sources familiar with the situation told Interfax on Friday.

21 October 2011
Policy & Regulation

Shtokman investment decision first, then tax breaks

The Russian Energy Ministry must receive an investment decision on the Shtokman field before it can determine the possibility of introducing tax breaks for the project, Deputy Energy Minister Sergei Kudryashov told journalists.

20 October 2011

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