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Fresh oil explorations in Caspian Sea Energy

TEHRAN, Jun. 24 (MNA) – A trilateral agreement has returned exploration teams of the Oil Ministry to Caspian Sea blocks. The first oil field in Caspian Sea deep waters was discovered four years ago;

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Legal Status of Caspian Sea Legal Issues

 Legal Status of Caspian Sea Introduction The Caspian Sea is the biggest enclosed body of water on Earth, having an even larger area than that of the American Great Lakes or that of Lake Victoria in East Africa. The length of the

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Caspian Sea Region: Legal Issues Legal Issues

CASPIAN SEA ISSUES Questions surrounding the legal status of the Caspian Sea have hindered--but not stopped--further development of the Sea's mineral resources. Since the fall of the Soviet Union in 1991 led to the independence of three new countries

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Iran prepared for oil swap in Caspian Sea Energy

TEHRAN, Feb. 10 (MNA) – An official of Iranian Oil Terminals Company (IOTC) has said operation of new oil storage facilities will improve Iran’s oil swap capacity. Hamid Reza Shahdoust who was talking to reporters on Wednesday

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Turkmenistan connects oil output growth with Caspian Sea Energy

Ashgabat, Turkmenistan, Feb. 19 By Huseyn Hasanov– Trend: Turkmenneft State Concern starts implementation of plans on the development of the Turkmen sector of the Caspian Sea, Turkmen Oil and Gas Ministry said. Turkmenistan’s sea resources are estimated at 12 billion tons of oil

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SOCAR commissions gas well in Caspian Sea Energy

By Maksim Tsurkov – Trend: SOCAR (State Oil Company of the Republic of Azerbaijan) will additionally produce around 32.85 mcm of gas and 5,480 tons of condensate annually by commissioning a well at the Guneshli offshore field after overhaul, the company

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Azerbaijan won’t increase oil output Energy

Trend: Azerbaijan intends to keep the oil production in 2016 at the 2015 level, head of the State Oil Company of Azerbaijan (SOCAR), Rovnag Abdullayev said in an interview with ANS TV channel. He noted that the projects for increasing the production

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Walking the line Energy

Plans for a new Euro-Caspian pipeline will solidify the west's dependence on fossil fuels and authoritarian regimes. This new documentary shows why we should stop and think. “Of course we need a different energy model,” Alberto Santoro states emphatically. “It is

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Once more on the Trans-Caspian Gas Pipeline Energy

Diplomatic attention has intensified on the project of the Trans-Caspian Gas Pipeline (TCGP) while both obstacles to and incentives for its realization increase. Turkmenistan's commitment to the project may be inferred from the finally completed construction of its East-West Pipeline

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Georgian FM: No need to buy more gas from Gazprom Energy

Trend: The Georgian government aims at ensuring stable and uninterrupted gas supply, Mikheil Janelidze, Georgian foreign minister, said. Janelidze made this statement following the negotiations and the agreement with SOCAR (State Oil Company of Azerbaijan). The gas supply was problematic after the recent

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Azerbaijan’s SOCAR reviving Iran deals Energy

Azerbaijan’s state oil firm SOCAR says it is looking to revive trade with Iran as the two neighbors are strengthening relations after the lifting of sanctions on the Islamic Republic.  Azeri President Ilham Aliyev arrived in Tehran on Tuesday to

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KazMunaiGas crashes prepayment party to improve debt profile Energy

Read the rest of this TXF article here: http://www.txfnews.com/News/Article/5472/KazMunaiGas-crashes-prepayment-party-to-improve-debt-profile. For more high quality trade, export & agency, and commodity finance journalism and events, visit www.txfnews.com Kazakhstan’s state-owned KazMunaiGas (KMG), an umbrella company of several subsidiaries, is closing a $3

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THE HISTORY OF THE CASPIAN SEA History

The Caspian Sea is situated on the border of Europe and Asia. It is bordered with the Russian Federation, Kazakhstan, Turkmenistan, Azerbaijan and Iran. The Caspian is the largest inland body of water in the world. Since the ancient

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Iran, Russia eye oil & gas swap Energy

By Khalid Kazimov – Trend: Iran and Russia are capable of swapping oil and gas, says Iranian Oil Minister Bijan Namdar Zanganeh. At a meeting with Russian Energy Minister Alexander Novak in Tehran, Zanganeh said that expansion of cooperation with Russia is

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Turkmenistan to increase production of high-octane gasoline Energy

By Huseyn Hasanov– Trend: With commissioning alkylation units and isomerization at Turkmenbashi Complex of Oil Refineries (TCOR), it will be possible to produce additional 480,000 tons of high-octane gasoline (А-92, А-95 and А-98) per year, said the message from Turkmenistan’s Oil

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SOCAR inks deal with Canada’s Zenith Energy Energy

By Azad Hasanli - Trend: Azerbaijan’s state oil company SOCAR and Zenith Aran Oil Company, a subsidiary of Canada’s Zenith Energy, signed March 16 an agreement on production sharing, restoration, development and exploration at the block that includes Muradkhanli, Jafarli and

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Search underway for missing oil workers Investment

The search for the oil workers, who went missing in the Caspian Sea, continues in Azerbaijan, the country’s ministry of emergency situations said on March 18. The oil workers went missing in an accident on the platform No. 10 of Azerbaijan’s

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Turkmen oil refineries' complex to up LPG output Energy

By Aynur Karimova The Turkmen Ministry of Oil and Gas and Natural Resources has revealed the Turkmenbashi Complex of Oil Refineries' liquefied gas production plans for 2016. The ministry reported on March 18 that the complex will produce 340,000 tons of LPG

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Russian interest in East Med and Cyprus gas Energy

In a week that saw Russia pulling some of its armed forces out of Syria and signs of increasing cooperation between Russia and the US in the region, it is important to examine Russian interest in energy, and particularly gas,

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Iran invited to Doha oil freeze talks Energy

Iran invited to Doha oil freeze talks Qatar’s media said on Wednesday that the country has invited Iran to join talks over implementing a proposed oil production freeze to help stabilize prices. Qatar’s Ministry of Energy and Industry has

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Iran announces major jump in oil exports Energy

Iran announces major jump in oil exports Iran says its oil exports have already reached around 2.2 million barrels per day (bpd) in what could highlight a major progress in the country’s post-sanctions oil industry performance. Iran’s First Vice

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Iran using Asian help to revamp refineries Energy

Iran using Asian help to revamp refineries Iran said on Friday that it is working with Asian investors and builders to revamp several of its key refineries. Abbas Kazemi, the managing director of the National Iranian Oil Refining and

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Topaz reports 63% decline in 2015 profit Energy

Profit at Topaz Energy and Marine dropped by 63 per cent last year, as it suffered from the oil price-driven industry slump. The Dubai-headquartered shipping company, which is a wholly owned subsidiary of Muscat-listed Renaissance Services, yesterday reported a drop of

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Turkmenistan starts welding TAPI pipeline’s linear part Energy

Trend: Turkmennebitgazgurlushyk (“Turkmenneftegazstroy”) state concern has begun welding the pipes of the linear part of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline’s Turkmen section. More than 100 units of special equipment are being used within current work, a message released by Turkmen Oil and Gas

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WB to discuss Absheron lakes clean up Environment

Trend: The World Bank’s (WB) Board of Directors will discuss the “Absheron Lakes Cleanup and Rehabilitation” project on July 18, 2017, said the WB. The estimated cost of the project is $100 million, $85 million of which are

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Turkmenistan eyes developing fuel and energy complex Energy

Energy-rich Turkmenistan will continue to realize programs and projects envisaging further development, modernization and diversification of the national fuel and energy complex. Such an instruction was given by President Gurbanguly Berdymukhamedov at the recent meeting of the Cabinet of Ministers, the

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Topaz Energy and Marine Net $ 20.8m Profit Investment

Topaz Energy and Marine, a leading offshore support vessel company, today announces its results for the year ended 31 December 2015. Business Highlights   * Net Profit for the period was US$ 20.8m before exceptional items, impairment charge

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Kashagan to expand and extend first production stage Investment

ASTANA – The Kashagan development project operator – North Caspian Operating Company (NCOC) – is planning to substantially expand and extend the first production stage – the Experimental Programme (EP). The operator company has developed an AEP project – Additional

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Lukoil expands operations in Caspian Sea Energy

Lukoil plans to increase oil production in the Caspian Sea by 7 million tons a year after commissioning the Vladimir Filansky field. Lukoil has already approved all its plans for the Caspian Sea. With the introduction of the full capacity in

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SOCAR commissions well in Caspian Sea Energy

Trend: Azerbaijan’s state oil company SOCAR will additionally produce over 6,900 tons of oil and 6.2 million cubic meters of gas a day thanks to the commissioning of a well at the offshore Oil Rocks field after the well has been

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Oil in the Caspian Region Energy

The Caspian Sea region has become a central focal point for untapped oil and natural gas resources from the southern portion of the former Soviet Union. Beginning in May 2005, oil from the southern sections of the Caspian Sea began

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Caspian states decrease oil products’ export to Iran Energy

Trend: Iran’s oil products imports from Caspian littoral states decreased significantly in first quarter of 2016, the official statistics indicate. According to Iranian Ports and Maritime Organization, the unloading of oil products at Iran’s Caspian ports decreased significantly. Iran’s Neka, Anzali, Fereidoon Kenar

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Tethys Petroleum incurs huge losses in 2015 Energy

Trend: The losses of the Tethys Petroleum Limited in 2015 stood at $74.6 million as compared to $16.4 million in 2014, said the company in a message posted on its website March 31. Tethys Petroleum Limited is an oil and gas exploration

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Doha oil meeting helpful, yet not ideal Energy

The upcoming Doha meeting on oil production will yield positive results on prices, yet it is far from an ideal move, said Mohammad Ali Khatibi, former Iranian representative in OPEC. The reason is that the meeting is going to focus on

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SOCAR: SGC project shareholders plan to raise extra $2B Energy

Trend: Shareholders of the Southern Gas Corridor (SGC) project plan to raise additional $2 billion from international finance institutions to fund the project, Rovnag Abdullayev, president of Azerbaijan’s state oil company SOCAR, told reporters April 2. Abdullayev said the funds are planned

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SOCAR hopes major oil contract to be prolonged soon Energy

Trend: Azerbaijan’s state oil company SOCAR continues talks with its partners on signing a contract to continue the development of Azeri-Chirag-Guneshli (ACG) block of oil and gas fields and hopes for speedy solution of this issue, says SOCAR President Rovnag Abdullayev. An

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Iran’s oil, condensate export surpasses 2 mbpd Energy

Iran’s oil export has recently surpassed two million barrels per day, the country’s oil minister, Bijan Namdar Zanganeh said. “The country now is exporting over two million barrels of gas condensates and crude oil per day,” Zanganeh said, Mehr news agency

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Another reason for an oil roll over Energy

Since writing last week about an impending drawdown in floating storage which would pressure Brent prices lower, front month Brent has fallen by -6.3% (USD -2.6/bbl). However this has had nothing to do with floating storage as the Bloomberg estimate

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Lahijan Tourism

Lahijan Lahijan is a Caspian sea resort in and the capital of Lahijan County, Gilan Province, Iran. At the 2006 census, its population was 71,871, in 21,518 families. The resort Lahijan has both traditional and modern architecture. The

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SOCAR attracts additional funds from IBA Energy

SOCAR, the state energy company of Azerbaijan attracts 200 million manats ($131.7 million) from the International Bank of Azerbaijan (IBA) for 2016. The funds that SOCAR will get is the next tranche of loans allocated for the drilling works in the

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Europort to Partner IRANIMEX Investment

Leading maritime exhibition offers gateway to maritime and offshore opportunities in Iran   Europort has become the official and exclusive international partner of IRANIMEX, the leading maritime & offshore exhibition in Iran. The agreement brings together the brand behind the

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Fishing for vital company knowledge Fishing

Fishing for vital company knowledge   Large building projects are delayed by all sorts of issues — money, employees who lack the right skills, public sentiment. But sometimes it is fish spawn, or great-crested newts. The deliverer of such bad news might

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Turkmenistan starts drilling another well at Galkynysh field Energy

Turkmenistan starts drilling another well at Galkynysh field Energy-rich Turkmenistan, which sits on huge natural gas reserves (265 trillion cubic feet of proven gas reserves, according to the Energy Information Administration, January 2015), continues large-scale works on the accelerated commercial development

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Turkmenistan advancing on South Asian gas market Energy

Turkmenistan advancing on South Asian gas market Trend: Despite skepticism of some experts regarding the progress of construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, which dates back to 2010, the deal started rolling. The State Concern 'Turkmengaz',

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Russia to build 2 tankers for Azerbaijan Investment

Russia to build 2 tankers for Azerbaijan Russia's Krasnoye Sormovo Shipyard, a subsidiary of the United Shipbuilding Corporation, and Azerbaijan's Caspian Marine Services Ltd. signed a contract for building and delivery of two RST27 tankers, said Krasnoye Sormovo Shipyard on its

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Int'l Caspian Oil&Gas; Expo scheduled for June Energy

Int'l Caspian Oil&Gas Expo scheduled for June Caspian Oil&Gas 2016, the 23rd international exhibition and conference, the largest energy sector event in the Caspian region, will take place from 1-4 June 2016 at Baku Expo Center. As a recognised international platform

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Azerbaijan invites U.S. companies to Baku-based FTZ Investment

Azerbaijan invites U.S. companies to Baku-based FTZ Azerbaijan has invited the U.S. Agency for International Development and other organizations to participate in the establishment of a free trade zone in the Alat settlement of Baku. Azerbaijan's Economy and Industry Minister Shahin

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WorleyParsons ink five-year contract with BP Azerbaijan Energy

WorleyParsons ink five-year contract with BP Azerbaijan azernews WorleyParsons has been awarded a five-year contract for Engineering, Procurement and Construction Management (EPCm) services for BP-operated assets in Azerbaijan, Georgia and Turkey, Azertac state news agency reported. Under the agreement, WorleyParsons will provide

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Globalink crosses the Caspian Investment

Globalink crosses the Caspian Kazakhstan headquartered Globalink Logistics Group has coordinated the delivery of out-of-gauge machinery and construction equipment from Yolotan, Turkmenistan to an oilfield site across the Caspian Sea at Atyrau. The Globalink teams in Kazakhstan and Turkmenistan prepared

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BP, its partners invest in Azerbaijan Energy

BP, its partners invest almost $60B in Azerbaijan Trend: The British BP company together with its partners on development of the Azeri-Chirag-Guneshli and Shah Deniz oil and gas fields invested in Azerbaijan over $58 billion over the period of more than 20-year

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New appointment at Turkmenistan’s state concern Investment

New appointment at Turkmenistan’s state concern Trend: Japarguly Orazov has been appointed the deputy chairman of Turkmenneft State Concern. Turkmenistan's President Gurbanguly Berdimuhamedov signed the relevant decree on his appointment. The state concern's activity covers more than 600 oil, oil & gas and

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ECO-Caspian energy transition through gas Energy

ECO-Caspian energy transition through gas The oil price slide since mid-2014 has severely constrained economic growth and investment in the Economic Cooperation Organization (ECO) & Caspian region. Despite this, regional governments nevertheless expect an improved market climate &

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Master of its domains Investment

Master of its domains Much is made about the importance of oil to the Russian economy, but Russia is a global energy powerhouse that’s much more than a petro-state By Scott L Montgomery Russia is not what you think. Most

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Turkmenistan, Italy studying joint projects Energy

Turkmenistan, Italy studying joint projects Trend: Turkmenistan and Italy have great opportunities to diversify the cooperation and implement joint projects in various spheres, says the Turkmen President Gurbanguly Berdimuhamedov. He made the remarks during a meeting of the Cabinet of Ministers, read

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Gas fields development in Turkmen Karakum Desert kicks off Energy

Gas fields development in Turkmen Karakum Desert kicks off Trend: The Turkmen State Concern 'Turkmennebitgazgurlushyk' has started development of a group of gas and condensate fields 'Zeakli-Derveze' in the Central Karakum Desert in Turkmenistan since early 2016, the country's oil and

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U.S. calls for strong economic ties with Azerbaijan Investment

U.S. calls for strong economic ties with Azerbaijan The U.S. State Department has voiced the necessity to strengthen the economic ties between Baku and Washington. "We discussed the issues related to trade, finances, agriculture, combating corruption," Kurt Tong, the Principal Deputy

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Turkmenistan keen to become major exporter of chemicals Energy

Turkmenistan keen to become major exporter of chemicals Turkmenistan can become a powerful industrial power and a major exporter of chemical products, the Neutral Turkmenistan newspaper reported. The construction of a gas chemical complex on the Caspian Sea shore, exactly in

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Turkmenistan intensifies development of Caspian Sea shelf Energy

Turkmenistan intensifies development of Caspian Sea shelf Turkmenistan's President Gurbanguly Berdimuhamedov has given instructions regarding the development of hydrocarbon resources in the country's Caspian Sea shelf, read a message from Turkmenistan's government. This issue was discussed during the meeting of the

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SOCAR launches new oil well Energy

SOCAR launches new oil well State Oil Company of Azerbaijan (SOCAR) will increase the production level to more than 11.3 million tonnes of oil per year due to commissioning of new oil well in Oil Rocks offshore field, the

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Saipem inks string of E&C contracts Energy

Saipem inks string of E&C contracts Saipem has been awarded new engineering and construction contracts cumulatively valued at about €430 million. The work includes a contract with Statoil, for the lift and mating operations of offshore floating wind turbines for

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S&P affirms ratings of Kazakh KazTransOil pipeline operator Energy

S&P affirms ratings of Kazakh KazTransOil pipeline operator Trend: Standard & Poor's Ratings Services affirmed its 'BB' long-term corporate credit rating on Kazakhstan-based oil pipeline operator KazTransOil (KTO), the rating agency reported. The outlook is negative, according to the agency. The affirmation reflects

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Russian oil CEO: We won't do deals with OPEC Energy

Russian oil CEO: We won't do deals with OPEC MOSCOW (CNNMoney) —A top Russian oil executive may just have killed off any lingering talk of an agreement among producing countries to freeze output. The world's top exporters, including Russia,

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Songs of devotion Caspian geography and anthropology

<header class="node-header"> Songs of devotion </header> REVIEW / CONCERT A TAPESTRY OF SACRED MUSIC FESTIVAL: VOICES FROM THE LAND OF FIRE: MUGHAMS AND ASHIQS FROM AZERBAIJAN National treasures rarely come as gentle, unshowy and workman-like as Alim Qasimov, the titan among the

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Karabakh conflict discussed in Tokyo Political and military events

Karabakh conflict discussed in Tokyo The Armenia-Azerbaijan Nagorno-Karabakh conflict, as well as further developments of cooperation between Azerbaijan and Japan was high on the agenda of the annual meeting of the Inter-parliamentary Friendship League. Addressing the event, Gursel Ismayilzade, Azerbaijan’s Ambassador

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Baku Higher Oil School to organize int’l conference Energy

Baku Higher Oil School to organize int’l conference On 25-28 April, 2016, BHOS and UK-based Confidence Capital company with the support of SOCAR will jointly organize international practical conference on 'Caspian Basin and Central Asia: Trade, Logistics, Oil Processing and

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Turkmenistan to host int’l gas congress in May Energy

Turkmenistan to host int’l gas congress in May   The seventh International Gas Congress of Turkmenistan is planned to be held May 19-20, 2016 at 'Avaza' national tourist zone, the event organizer Turkmengaz state concern announced. The forum will bring together around

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Iran-Azerbaijan trade turnover up Investment

Iran-Azerbaijan trade turnover up by 53% Trade turnover between Iran and Azerbaijan has increased by 53 percent in the first three months of the current year, said Iran's ICT Minister Mahmoud Vaezi speaking to reporters in Baku April 21. Vaezi, who

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Craze for LNG Energy

Craze for LNG Pricing policy of only one man, John D. Rockefeller, led to a decrease in the cost of kerosene in the US oil products' market of the late 19th century from 26 cents to eight cents per gallon

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FSU crude exports hit record high Investment

FSU crude exports hit record high Crude exports from former Soviet Union (FSU) countries rose by 1pc in March to a record high of 7mn b/d. Rising Russian crude exports outside the Transneft pipeline system helped offset a dip Azeri BTC

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Azerbaijan's nimble gas plans Energy

Azerbaijan's nimble gas plans Azerbaijan, a key energy player in Eurasia, today is completely successful country both in terms of production and in terms of transportation of energy resources, and the country is committed to make great strides to boost

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Azerbaijan may discover additional gas condensate reserves Energy

Azerbaijan may discover additional gas condensate reserves   Azerbaijan has all opportunities for discovering additional gas condensate reserves at its fields in the Caspian Sea, said Natig Aliyev, Azerbaijani energy minister. The minister made the remarks Apr. 25 at the SOCAR International

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Kazakhstan plans to enter top 10 oil exporters Energy

Kazakhstan plans to enter top 10 oil exporters Kazakhstan plans to produce 77 million tons of oil in 2016, Deputy Director General of the Information Oil and Gas Center of Energy Ministry of Kazakhstan Askar Kenzhekhanov said. He made the remarks

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BP with partners invest $58B in Azerbaijan Energy

BP with partners invest $58B in Azerbaijan The British BP company and partners have invested $58 billion in Azerbaijan's projects over the period of its activity. The statement came from Bakhtiyar Aslanbayli, BP's regional vice president, said Apr. 25, Trend reports. He

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To Walk This Wilderness, Carry a Shovel Tourism

To Walk This Wilderness, Carry a Shovel Caching water on the steppes of Kazakhstan is like an act of worship or a duty of penance. Paul Salopek is walking the global trail of the first humans who migrated out of

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Russia Renewable Energy Report Energy

Russia Renewable Energy Report Other than large hydroelectric plants in Russia, all other forms of renewable energy accounts for less than 1% of power generation capacity. These metrics come from Russia Direct, which reports when it comes to wind, solar and

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SOCAR commissions new platform in Caspian Sea Energy

SOCAR commissions new platform in Caspian Sea Azerbaijan's state oil company SOCAR completed the construction of the new deep-water platform #6 at the Bulla Deniz gas field in the Caspian Sea and commissioned it, reads a SOCAR message issued May

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NDFI, KEXIM ink MoU Investment

NDFI, KEXIM ink MoU National Development Fund of Iran (NDFI) and the Export–Import Bank of Korea, also commonly known as the Korea Eximbank (KEXIM) have signed a memorandum of cooperation. During the visit of South Korean president

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Iran Oil Show 2016 kicks off Energy

Iran Oil Show 2016 kicks off The 21st International Oil, Gas and Petrochemical Exhibition started work here Thursday for four days. Near 2,000 companies from Iran and 38 world countries have attended Iran Oil Show this year.

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Turkmenistan should focus on developing Caspian oil fields Energy

Turkmenistan should focus on developing Caspian oil fields   Turkmenistan's President Gurbanguly Berdimuhamedov has emphasized the necessity of accelerating the work on developing the country's large oil and gas fields and paying special attention to the Turkmen sector of the Caspian

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Renewable Energy Report For Russia Energy

Renewable Energy Report For Russia Other than large hydroelectric plants in Russia, all other forms of renewable energy account for less than 1% of power generation capacity. Moscow-shutterstock_400971697-1-600x381These metrics come from Russia Direct, which reports when it comes to wind, solar

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No Way Out Ecosystem

No Way Out The fate of the Caspian seal may have been decided five million years ago. The smallest earless seal on Earth, Pusa caspica, is the only mammal in the Caspian Sea. It is atop the aquatic food chain in this

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Iran launches talks with 4 states over oil swap Energy

Iran launches talks with 4 states over oil swap Deputy oil minister has reported on negotiations with Turkmenistan, Azerbaijan, Kazakhstan and Russia on oil swap resumption. Speaking at the conference on development of Iran-China economic trade cooperation

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Gazprom executives to visit Tehran Energy

Gazprom executives to visit Tehran A 30-strong delegation of Russia’s Gazprom Company, the world’s largest gas exporter, will soon travel to Tehran to launch fresh round of talks with Iran. Headed by Deputy Chairman of Gazprom's Board

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SOCAR to purchase gas from Russia Energy

SOCAR to purchase gas from Russia Natural resource rich Azerbaijan decided to purchase gas from neighboring Russia in order to maintain oil production. Azerbaijan's state-owned energy company SOCAR submitted a proposal to Russian Gazprom to purchase from 3 to 5 billion

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Dutch logistics company eyeing Azerbaijani market Investment

Dutch logistics company eyeing Azerbaijani market The Dutch logistics service company Royal Wagenborg is considering the possibility of entering the Azerbaijani market, Fabio Giurato, director of the company's branch in Kazakhstan, said in an exclusive interview with Trend May 16. Giurato

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Intl. rail expo, conference kick off Investment

Intl. rail expo, conference kick off   The 4th International Exhibition of Rail Transportation, Related Industries and Equipment of Iran, dubbed RAILEXPO 2016, and the first international conference titled “Rail-Ports and Rail-Oil” opened in Tehran on Sunday. Representatives

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Dubai-based Topaz to supply vessels for Caspian Sea Energy

Dubai-based Topaz to supply vessels for Caspian Sea Dubai-based shipper Topaz Energy and Marine has won a US$350 million contract to supply and operate vessels for Kazakhstan’s Tengizchevroil, a Chevron-led joint venture oil producer, in the Caspian Sea. Topaz, which won

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Socar and Uzbekneftegaz join forces in Uzbekistan Energy

Socar and Uzbekneftegaz join forces in Uzbekistan   Socar and Uzbekneftegaz join forces in Uzbekistan Azerbaijan state-run energy company Socar has signed a memorandum for cooperation and joint activity with its Uzbek counterpart Uzbekneftegaz, the national holding company. The two entities have agreed to

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Iran has the largest world oil tankers company Energy

Iran has the largest world oil tankers company   Managing Director of National Iranian Tanker Company (NITC) Ali Akbar Safaei said on Monday that Iran has the largest world oil tanker company with a capacity of more than 15.5 million tons.

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Baku to the future Political and military events

Baku to the future   NEXT month around two dozen Formula One racecars will speed through the gleaming centre of Baku, the capital of Azerbaijan. They will zoom along the shore of the oil-rich Caspian Sea, past five-star hotels and

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Int’l gas congress opens in Turkmenistan Energy

Int’l gas congress opens in Turkmenistan   Opening of the 7th international Turkmenistan Gas Congress 2016 (TGC 2016) has been held at the congress center of Turkmenistan's Avaza. The organizers of the event are Turkmengaz state concern and the British Summit Trade

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Incat Crowther Designs Fast Crewboat for CMS Investment

Incat Crowther Designs Fast Crewboat for CMS Construction is underway for the second 70m Catamaran crew boat sister ship to the Muslim Magomayev, designed by Incat Crowther. Muslim Magomayev is a first-of-type vessel which Incat Crowther developed in close conjunction

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Caspian Sea Yard to Build Persian Gulf Jack Ups Investment

Caspian Sea Yard to Build Persian Gulf Jack Ups   The Red Barricades shipyard in Astrakhan, Russia, has finalized a contract for the construction of five $200 million jack up rigs for Iranian firm SADID Industrial Group.  SADID and Red Barricades said that

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Baku to Allow Turkmen Gas into Tanap Energy

Baku to Allow Turkmen Gas into Tanap   Azerbaijan’s energy minister Natig Aliev says Baku and Ashgabat are negotiating a deal to enable Turkmenistan to supply gas to the European Union through the Southern Gas Corridor (SGC). “There are two pragmatic ways; first

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Kazakhstan plans to build new oil terminal Energy

Kazakhstan plans to build new oil terminal Kazakhstan plans to construct an oil terminal in its Kuryk port in the future, the Kazakh National Transport and Logistics Center told Trend May 23. However, no timeframe of the terminal's construction was revealed. Transshipment

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INOTEX 2016 presents IT and ICT achievements Investment

INOTEX 2016 presents IT and ICT achievements Iran, Russia, Belarus, Ukraine and Greece introduced their achievements in a meeting on IT and ICT technology exchange held on the sidelines of 2016 INOTEX Exhibition.   Speaking on the sidelines of

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EBRD Mulls SGC Loan Energy

EBRD Mulls SGC Loan EBRD Mulls SGC Loan The European Bank for Reconstruction and Development (EBRD) is ready to support the southern gas corridor (SGC) project, its president Suma Chakrabarti told reporters in Baku May 25. Chakrabarti said the EBRD has firmly committed

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Emirates Aquatech eyes caviar exports to EU Fishing

Emirates Aquatech eyes caviar exports to EU   Abu Dhabi-based Emirates Aquatech is targeting caviar production of 35 tonnes per year as it awaits clearance from the European Union to export the prized product to Europe and increase its market share. “The

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The fascinating land of Dagestan History

The fascinating land of Dagestan   The Republic of Dagestan set on the Caspian Sea between the staggering Greater Caucasus mountains is a wonderland of ethnic and cultural diversity. Dagestan surrounded by the Caucasus mountains on one

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SOCAR reveals oil output from ACG Energy

SOCAR reveals oil output from ACG Nearly 400 million tons of Azeri Light oil and more than 120 billion cubic meters of associated gas has been produced in Azeri-Chirag-Guneshli (ACG) block of fields in Azerbaijan during less than 20 years. The

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ARETI shows interest in further cooperation with Turkmenistan Investment

ARETI shows interest in further cooperation with Turkmenistan   ARETI International Group of companies is interested in joining projects implemented in different spheres of Turkmenistan’s economy. During his meeting with President Gurbanguly Berdimuhamedov, Chairman of the ARETI International Group of Companies Igor

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Iran resumes crude oil swap Energy

Iran resumes crude oil swap Head of North Oil Terminal Hamid Reza Shahdoust said on Wednesday that National Iranian Oil Company has obliged Nikoo Company to fulfill preparatory works for resuming crude oil swap in shortest possible time.

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In Iran, Modi projects Vajpayee’s vision Investment

In Iran, Modi projects Vajpayee’s vision The quantum leap for Indian diplomacy that was the Chabahar agreement, was seeded by NDA1 and nurtured by NDA2, while the two UPA administrations in between failed to make much progress The recent agreement between

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Caspian Overview: China Eyes Growth in Azerbaijan Energy

Caspian Overview: China Eyes Growth in Azerbaijan   China has held negotiations with Azerbaijan’s state oil company (Socar) over a $17bn downstream project twice in the last two months, this time leading to a memorandum of understanding. China National Petroleum Corp (CNPC) has

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Kazakh minister provides Kashagan update Energy

Kazakh minister provides Kashagan update    Production at the Kashagan oil field is expected to resume this year, according to Kazakhstan’s Minister of Energy Kanat Bozumbayev. “The production at Kashagan will begin in late 2016. We are expecting to

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Turkmenistan to host 3rd Iran-Project expo Investment

Turkmenistan to host 3rd Iran-Project expo   Turkmenistan is to host the 3rd edition of Iran's exclusive exhibition of oil, gas and petrochemicals, water and electricity, construction industry as well as engineering and technical services, known as “Iran Project-2016”,

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Azerbaijan realizes profitable railway projects Investment

Azerbaijan realizes profitable railway projects   Azerbaijan and Iran are considering three options for financing construction of the Rasht-Astara (Iran) railway section, Head of Azerbaijan Railways CJSC Javid Gurbanov said while talking to ANS TV channel. Being a part of the North-South

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In Iran, Modi projects Vajpayee’s vision Investment

In Iran, Modi projects Vajpayee’s vision   The recent agreement between Iran, Afghanistan and India to build the Chabahar port on the Iranian coast and link it with the existing rail and road network and related industrial corridor into

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Caspian Shipping Company commissions new vessels Investment

Caspian Shipping Company commissions new vessels Azerbaijan Caspian Shipping CJSC has put into commissioning four dry cargo vessels that will operate beyond the pale of the Caspian Sea. A ceremony to raise Azerbaijan`s state flag in the “Vagif”, “Sabir” “Huseyn Cavid”

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Port Of Call Investment

Port Of Call The Chabahar port in Iran will help India get direct access to Central Asian markets. For India Inc, it is a huge business opportunity. On September 1, 2014, when Prime Minister Narendra Modi was on his maiden visit

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Turkmen geologists to focus on oil fields search Energy

Turkmen geologists to focus on oil fields search   The search for oil fields is currently one of the priority directions of geological exploration work of "Turkmengeology" - the government's organization in the field of geological exploration, said the message of

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Azerbaijan – Oriental Express Hub? Energy

Azerbaijan – Oriental Express Hub?    With the first Mumbai-to-Moscow train scheduled to chug through Azerbaijan this August, railways seem set to become the new oil for the Caspian Sea nation.   Better known for a wealth of energy and

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Iran, Russia in talks over electricity exchange Energy

Iran, Russia in talks over electricity exchange   A new report says Iran and Russia are in final talks over electricity exchange during high seasons. Payam Baqeri, head of Export Committee of the Iranian Power Industry Union, has told the Azerbaijan

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Lukoil spuds at Vladimir Filanovsky in Caspian Sea Energy

Lukoil spuds at Vladimir Filanovsky in Caspian Sea Lukoil has commenced drilling operations at the Vladimir Filanovsky field in the Caspian Sea. The well is being drilled from an ice-resistant fixed platform, LSP-1, with first production set for 2H 2016. V. Filanovsky

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Caspian Overview: Azerbaijan Talks with Gazprom Energy

Caspian Overview: Azerbaijan Talks with Gazprom Azerbaijan’s energy monpoly Socar produced 5.4% less gas in the first five months of the year than in the same period of 2015. Output stood at 2.65bn m3, according to Socar’s latest figures, of

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Kazakhstan to resume oil production on Kashagan field Energy

Kazakhstan to resume oil production on Kashagan field   Oil output at Kazakhstan's Kashagan field is expected to start in October 2016. Kazakhstan's Prime Minister Karim Massimov gave the relevant instruction to Energy Minister Kanat Bozumbayev and KazMunaiGas national company during the

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India and SCO Political and military events

India and SCO India Has More Hoops to Jump for SCO Membership   “I convey our deep sense of gratitude to the members of the SCO for accepting India as a full member,” Prime Minister Narendra Modi told leaders of the Shanghai

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Singapore wins Baku port deal Investment

<header class="entry-header"> Singapore wins Baku port deal </header>   Baku International Sea Trade Port has signed an MoU with Singapore-based SMRT International and Ectivise Solutions to enhance the operational effectiveness of Azerbaijan’s new port.  The two Singapore-based companies will support the Port of Baku

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SOCAR-KBR Llc head assigned Energy

Baku, Fineko/abc.az. Alp Togay Kurum, a citizen of Turkey, has been appointed general director of Azerbaijani-American joint venture SOCAR-KBR Llc within the start of JV’s commitments on the management of the project of reconstruction of the Baku Oil Refinery n.a.

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Barter Enables Iran-Turkmenistan Gas Trade Energy

Iran will import gas worth $30bn from Turkmenistan over the next ten years in exchange for engineering goods and services of the same value. Oil ministry representative Mohammad Taqi Amanpour said June 27 that the two countries had finalized $2.5bn of

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SOCAR's Azneft to introduce SCADA system Energy

SOCAR’s Azneft production unit is planning to develop SCADA (supervisory control and data acquisition) system to create virtual form of the oil and gas fields of the country, SOCAR reported. SCADA system will allow visualization of oil and gas fields operations,

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GEG signs LoI for Caspian seabed seismic system Ecosystem

OSLO, Norway – inApril has signed a letter of intent (LoI) that could lead to a first commercial agreement for its Venator node-based seabed seismic acquisition system worth potentially $25-30 million.  The LOI is to supply a Venator system to Kazakh

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Schneider Electric holds workshop at Baku Higher Oil School

On June 28, Baku Higher Oil School (BHOS) and Schneider Electric started a three day workshop on Contemporary Standards of Process Safety for SOCAR management, engineers and technical employees. During the three separate workshop sessions, the presentations will be made

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Iran, Turkmenistan to launch banking ties Investment

Iran, Turkmenistan to launch banking ties   Iranian Commercial Attaché to Ashgabat deemed direct banking relations and facilitated visa issuance as two means of boosting trade ties with the Central Asian country. Rahmatollah Khormali said “facilitating commuting between

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Iran, Turkmenistan to launch banking ties Investment

Iranian Commercial Attaché to Ashgabat deemed direct banking relations and facilitated visa issuance as two means of boosting trade ties with the Central Asian country. Rahmatollah Khormali said “facilitating commuting between countries as well as banking relations

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Will Iran Scare Away Big Oil Once Again? Energy

Comments from the head of the National Iranian Oil Company suggest that Iran wants the old buyback contract back, a potentially destructive move for the oil majors. Iran's hardliners object to the introduction of the new IPC as an alternative to

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Azerbaijani currency rate on July 11 Investment

Official exchange rate of the Azerbaijani manat against the US dollar was set at 1.5487 manats for July 11, said Azerbaijan's Central Bank July 8. Thus, manat's rate against the US dollar decreased by 0.2 percent compared to July 8. The

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Saipem and Topaz secure Caspian contracts Energy

Saipem and Topaz secure Caspian contracts   Vessel owners have secured a series of contracts and charters to support offshore projects in Azerbaijan and Kazakhstan. A Saipem-led consortium received another contract from BP for the Shah Deniz Stage 2 project. Saipem will

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Caspian Overview: Major Upstream Investment Approved Energy

Caspian Overview: Major Upstream Investment Approved   Kazakhstan and the Chevron-led consortium Tengiz Chevroil (TCO) approved on July 5 a $36.8bn plan to expand the giant Tengiz field, which has 45% of the country’s total production now. The sides plan to increase

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A tale of continuity cultural

A tale of continuity   In Azerbaijan, you can see a confluence of the old and the new One can say that this country has a foot each in two worlds — One in the modern world with industrial aspirations

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Shell shutting down office in Azerbaijan Energy

Shell shutting down office in Azerbaijan   Shell Business Development Central Asia B.V., a subsidiary of the Royal Dutch Shell plc, announced the liquidation of its office in Azerbaijan, the Azerbaijani Taxes Ministry’s ‘Vergiler’ newspaper reported July 8. In a comment to

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railroad from Russia to Iran Investment

railroad from Russia to Iran   The ambitious North-South Transport Corridor can allow us easy access to a vast region, boosting trade and diplomacy   The commencement of operations on the International North-South Transport Corridor project — connecting Bandar Abbas

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Time travel in Mideast History

Time travel in Mideast   ‘Wars are won in peace’ In addition to grain, survival of the Romans also heavily depended upon the availability of spices. Fortunately or unfortunately, like the present day oil, the Middle East then had some ‘Arabian

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Caspian Energy Grid – London Launch Energy

Caspian Energy Grid – London Launch   The Caspian Sea is the largest enclosed body of water by area and the resources to be found around in and under the Caspian Sea have been disputed for millennia. The issues

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Azerbaijan, Romania to boost co-op in gas transportation Energy

Azerbaijan, Romania to boost co-op in gas transportation   Azerbaijan’s state oil company SOCAR and Romania’s state-owned company Transgaz agreed to step up cooperation in the natural gas transportation, SOCAR said in a message July 19. The two sides signed a memorandum

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Travel Vaccines for Central Asia Investment

Travel Vaccines for Central Asia   Central Asia consists of the countries Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenistan. This region is bounded by the Caspian Sea and China on eithe