The level of execution of the OPEC + deal to reduce oil production in July was 95% versus 107% in June. Thus, the countries of the alliance removed 9.2 million bpd from the market in July, having fallen short of the agreement by 0.5 million bpd. The OPEC + technical committee on Monday, TASS reports summed up these results.

Today, on August 17, in the Central building of the oil and gas complex of Turkmenistan, a reporting meeting was held under the chairmanship of Vice-Chairman of the Cabinet of Ministers Myratgeldi Meredov, at which the results of the work of industry enterprises for seven months of 2020, held under the motto "Turkmenistan - Homeland of Neutrality" were discussed.

Despite the coronavirus pandemic and its negative impact on the global economy, the current state of the national economy indicates that our state continues to develop in accordance with the adopted programs, President Gurbanguly Berdimuhamedov said, summarizing the results of economic development of Turkmenistan for January-July 2020.

Last Friday, President Gurbanguly Berdimuhamedov held a meeting of the Cabinet of Ministers via digital video communication, at which the results of the development for seven months of the year of all sectors of the national economy, including the fuel and energy complex of Turkmenistan, were discussed.

31 transactions were registered at the State Commodity and Raw Materials Exchange of Turkmenistan last week.

The issues of strengthening trade, economic, energy, transport and communication cooperation were discussed online by the head of the Ministry of Foreign Affairs of Turkmenistan Rashid Meredov and acting Chairman of the Central Bank of Afghanistan Ajmal Ahmadi, the website of the Foreign Ministry of Turkmenistan reports.

An industrial inflow of natural gas with a daily flow rate of 400 thousand cubic meters was received at the Tadjibay field.

Hungary is especially interested in the import of natural gas through the Southern Gas Corridor and considers Turkmenistan to be a promising partner in this area, Trend reports citing the Hungarian Ministry of Foreign Affairs and Trade.

61 transactions were registered at the auction of the State Commodity and Raw Materials Exchange of Turkmenistan last week.

The next issue of the "Oil, Gas and Mineral Resources of Turkmenistan" magazine of the State Concern "Turkmennebit" has been published. The publication, covering the main events and trends in the fuel and energy complex of our country, presents an analysis of the reforms taking place in the economic sphere.

Gas economical organization "Yolotenetrapgaz" of Mary region has started a set of organizational and technical measures, the implementation of which is aimed at ensuring reliable and safe operation of the gas facilities in the coming autumn-winter period.

The repair and mechanical plant of the Nebitgazburavlayish trust of the State Concern "Turkmennebit" is currently equipped with modern equipment and installations, which allow performing a wide range of works on the manufacture of spare parts, repair and restoration of equipment, their installation and adjustment.

In September this year, it is planned to hold the second round of international negotiations on the modernization of the Energy Charter Treaty (ECT), conducted in the format of videoconferences. The participants will discuss in detail the provisions of the ECT related to the transit of energy resources, as well as the creation of a permanent mechanism for resolving disputes arising between states, investors and other parties to energy agreements and projects.

The production activities of the Lebapgazupjunchilik department are aimed at uninterrupted gas supply to consumers, maintenance of gas pipelines and gas networks of the region.

For seven months of 2020, the volume of transit of Turkmen oil through the territory of the Russian Federation amounted to 1 million 305 thousand tons. This is evidenced by the data of the Central Dispatching Department of the Fuel and Energy Complex of Russia. The source notes that during this period, Turkmen oil transit through Russia increased by 23.9%.