Vitol and SOCAR signed an agreement on the transportation of Turkmen oil via the Baku-Tbilisi-Ceyhan pipeline
00:07 12.09.2021 4342
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.
Measures are being taken to increase oil and gas production
The measures taken to increase oil production and strengthen the resource base of the oil and gas industry were reported by Vice-Chairman of the Cabinet of Ministers Shakhym Abdrakhmanov during a government meeting, which President of Turkmenistan Serdar Berdimuhamedov held last Friday via video link.
In the Balkan region, productive wells are switched to gas lift
Work on the development of rich oil fields in the Esenguly etrap of the Balkan region is gaining momentum. In the region, work is under way to drill new, deeper wells.
Representatives of Turkmenistan and Azerbaijan discussed the prospects for joint development of the Dostluk field in the Caspian sea
Ashgabat hosted a two-day meeting of the joint Turkmen-Azerbaijani working group on the implementation of the intergovernmental Memorandum of Understanding on joint exploration and development of hydrocarbon resources at the Dostluk field in the Caspian Sea, the website of the Foreign Ministry of Turkmenistan reports.
Key areas of cooperation considered at the Turkmen-American business forum
Key areas of cooperation in the field of trade and investment are on the agenda of the Turkmenistan-US business forum, which opened on Monday at the Chamber of Commerce and Industry of Turkmenistan.
International tender for the construction of a polyvinyl acetate plant has been announced
The state concern «Turkmengas» has announced an international tender for the design and construction of a «turnkey» gas chemical plant for the production of polyvinyl acetate in the Dashoguz region. The text of the tender was published in the Neutral Turkmenistan newspaper.