Vitol and SOCAR signed an agreement on the transportation of Turkmen oil via the Baku-Tbilisi-Ceyhan pipeline
19:07 11.09.2021 9088
The international energy and commodity trading company Vitol (Netherlands) has signed an agreement with the Azerbaijan State Oil Company SOCAR to transport 1 million tons of Turkmen oil per year via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline since October 2021, Energy Diary reported.
As the newspaper notes, this agreement will reduce the supply of Turkmen oil from the Russian Black Sea port of Novorossiysk by almost 50%. Currently, the transit of oil from Turkmenistan through the Russian Federation is about 160 thousand tons per month. The raw materials are transported by tankers across the Caspian Sea to the port of Makhachkala and from there they are pumped through an oil pipeline to Novorossiysk. According to forecasts, now this amount will drop to 80 thousand tons per month.
Azerbaijan and Russia have been competing for Turkmen oil for a long time and with the new agreement the competition will enter a new phase, Energy Diary writes.
Demand for oil in 2022 will grow by 3.3 million barrels per day, the market will be in short supply – IEA
Demand for oil in 2021 increased by 5.5 million barrels per day, and in 2022 it will increase by 3.3 million bpd, Interfax and Bloomberg report citing a report by the International Energy Agency (IEA).
Serdar Berdimuhamedov: For Turkmenistan, the Republic of Tajikistan is a significant and promising partner
On Wednesday, May 10, President of Turkmenistan Serdar Berdimuhamedov and President of Tajikistan Emomali Rahmon held talks in Dushanbe in a narrow format and in an expanded format with the participation of government delegations of the two countries, TDH reports.
Extraordinary meeting of the Halk Maslahaty of Milli Gengesh will be held on February 11
Extraordinary meeting of the Halk Maslahaty of the Milli Gengesh of Turkmenistan is scheduled to be held on February 11. This is provided for by the decree of President Gurbanguly Berdimuhamedov, who heads the People's Council – the upper house of the parliament of our country.
Oil price breaks seven-year records on supply worries
Oil prices continue to rise on Wednesday, renewing the highs since 2014 due to the risks of supply disruptions from the Middle East, Interfax reports.
The President of Turkmenistan discussed promising areas of partnership with the new Ambassador of Saudi Arabia
On April 17, President Serdar Berdimuhamedov received the new Ambassador of Saudi Arabia to Turkmenistan Amer bin Ali Al-Shehri, who presented his credentials to the head of state, TDH reports.