Retronas liquidates its branch in Azerbaijan due to the withdrawal from the Shah Deniz project
14:32 07.04.2022 12959
Petronas Azerbaijan (Shah Deniz) is closing its branch in Azerbaijan. This was announced on Wednesday by the press center of the company.
In the fall of 2021, LUKOIL agreed to buy Petronas' stake (15.5%) in Azerbaijan's largest gas field, Shah Deniz in the Caspian Sea, for $2.25 billion.
But in the end, SOCAR bought 4.35% from Petronas, 1.16% from BP, and LUKOIL got only 9.99% for about $1.45 billion. The deal was closed in January 2022.
Thus, BP plc (29.99%, operator), LUKOIL (19.99%), TPAO (19%), SOCAR (14.35%), NICO (10%) and SGC (subsidiary of SOCAR, - 6.67%) are participating in the Shah Deniz project.
At the same time, Petronas has been successfully developing oil and gas fields in the Turkmen sector of the Caspian Sea since 1996 under the terms of a production sharing agreement. Since then, the company's investment in the project has exceeded $11 billion.
Petronas was among the sponsors of the International Investment Forum «Oil and Gas of Turkmenistan» held on March 29-30.
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 government delegation of Turkmenistan discussed the prospects of the Turkmen-Uzbek partnership in Tashkent
Vice-Chairman of the Cabinet of Ministers of Turkmenistan Serdar Berdimuhamedov, who arrived at the head of a government delegation in Tashkent, met on Monday with President of Uzbekistan Shavkat Mirziyoyev, according to the website of the Ministry of Foreign Affairs of Turkmenistan.
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.
State visit of the President of Turkmenistan to Tajikistan begins
President of Turkmenistan Serdar Berdimuhamedov arrived on Wednesday on a two-day state visit to Tajikistan, following the talks, it is planned to sign a package of bilateral documents, TDH reports today.
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).