Connection

popular articles

Complete Solar acquires SunPower after bankruptcy for $45 million
Environmental Activists Oppose Construction of Photovoltaic Power Plant
Blackout in Venezuela: The Limits of a Fragile Power System
Tunisia: Agreements signed for two new solar power plants
Growing international business for Halliburton and Schlumberger

Azerbaijan/Kazakhstan: Oil Transit Increases to 7 Million Tons

Azerbaijan and Kazakhstan are discussing a significant increase in the transit of Kazakh oil via Azerbaijan, aiming to reach 7 million tonnes. This initiative aims to diversify Kazakhstan's oil export routes, thereby reducing its dependence on Russia.
Azerbaïdjan/Kazakhstan: Augmentation du Transit Pétrolier à 7 Millions de Tonnes.
  • [favorite_button]

Please share:

Azerbaijan and Kazakhstan are currently negotiating to increase the transit volume of Kazakh oil via Azerbaijan to between 5 and 7 million tonnes. The announcement was made by Zaur Gakhramanov, advisor to the Chairman of SOCAR (State Oil Company of Azerbaijan Republic), underlining a strategic step forward for both countries. Kazakhstan is seeking to reduce its dependence on Russia for energy exports, while the majority of its oil flow – 1.5 million barrels per day (representing 1.5% of global supply) – currently transits through various Russian pipelines. This diversification is crucial to strengthening Kazakhstan’s energy security.

Expanding infrastructure

SOCAR plans to open a new oil terminal this summer, following reconstruction work at Dubendi, near the capital Baku. This terminal will have a transit capacity of 10 million tonnes per year, increasingAzerbaijan ‘s total transit capacity to 20-25 million tonnes per year. This infrastructure expansion is essential to support increased transit targets. In 2023, Kazakh oil transit via Azerbaijan will amount to 1.4 million tonnes. SOCAR forecasts that this figure will reach 1.7 to 1.8 million tonnes this year and 2.2 million tonnes by 2025, showing steady growth in transit volumes.

Strategic agreements and prospects

In March, SOCAR signed an agreement with KazMunayGas (KMG), Kazakhstan’s national oil company, to gradually increase the volume of oil transported via the Baku-Tbilisi-Ceyhan (BTC) system to 2.2 million tonnes. This agreement underlines the importance of regional cooperation in the energy sector for both countries. Discussions are also underway to potentially transport 5 million tonnes of Kazakh oil via the Baku-Supsa pipeline in 2023. This diversification of export routes is crucial to reducing the risks associated with a single dependency and strengthening the economic resilience of both nations. This growing collaboration between Azerbaijan and Kazakhstan illustrates the importance of regional cooperation for energy security and the diversification of export routes. By increasing transit capacity and investing in key infrastructure, both countries are positioning themselves to play a central role in the global energy market. The prospect of these projects is promising, offering not only increased security for Kazakhstan’s oil exports, but also an opportunity for Azerbaijan to strengthen its position as a regional energy hub.

Register free of charge for uninterrupted access.

Advertising

Latest news

Saudi Arabia abandons hopes of $100 oil price
Octopus Energy invests £2 billion in UK renewable energies
Russia: export ban on petrol and diesel may be lifted if there is a surplus
ExxonMobil secures 20-year access to new Guangdong LNG terminal
Putin strengthens ties with BRICS and OPEC+ in retaliation

Recently published in

Saudi Aramco raises $3 billion in sukuk to maintain dividends

Saudi Aramco has raised $3 billion via a sukuk issue, despite a drop in oil production. The funds raised are intended to support the company's dividend commitments and capital expenditure projects.
Saudi Arabia abandons hopes of $100 oil price
Saudi Arabia is changing its oil strategy, abandoning its target of $100 a barrel in order to increase production and regain market share, despite a likely drop in prices.
Design sans titre-317
Saudi Arabia abandons hopes of $100 oil price
Saudi Arabia is changing its oil strategy, abandoning its target of $100 a barrel in order to increase production and regain market share, despite a likely drop in prices.
Design sans titre-317
Russia: export ban on petrol and diesel may be lifted if there is a surplus
Russian Deputy Prime Minister Alexander Novak announces that Russia could lift the gasoline export ban if a supply surplus is found in a stable domestic market.
Design sans titre-315
Russia: export ban on petrol and diesel may be lifted if there is a surplus
Russian Deputy Prime Minister Alexander Novak announces that Russia could lift the gasoline export ban if a supply surplus is found in a stable domestic market.
Design sans titre-315
Putin strengthens ties with BRICS and OPEC+ in retaliation
Vladimir Putin has announced the strengthening of energy alliances between Russia, the BRICS and OPEC+, with the aim of stabilizing the global energy market, despite the sanctions imposed by the West in response to the conflict in Ukraine.
Design sans titre-313
Putin strengthens ties with BRICS and OPEC+ in retaliation
Vladimir Putin has announced the strengthening of energy alliances between Russia, the BRICS and OPEC+, with the aim of stabilizing the global energy market, despite the sanctions imposed by the West in response to the conflict in Ukraine.
Design sans titre-313

OPEC+ considers production increase, 3% fall in oil prices

Oil prices fall by 3% as OPEC+ forecasts a production increase as early as December. Saudi Arabia abandons its target of $100 per barrel, putting pressure on the markets.
ExxonMobil invests $10 billion in offshore project in Nigeria
ExxonMobil injects $10 billion into the development of the Owo project in Nigeria. This initiative aims to increase oil production and consolidate the group's offshore operations in the country.
Design sans titre-309
ExxonMobil invests $10 billion in offshore project in Nigeria
ExxonMobil injects $10 billion into the development of the Owo project in Nigeria. This initiative aims to increase oil production and consolidate the group's offshore operations in the country.
Design sans titre-309
FTC prevents John Hess from joining Chevron board after merger
The Federal Trade Commission imposes restrictions on Chevron as part of its acquisition of Hess Corporation, preventing John Hess from sitting on the board of directors to limit the risk of collusion and preserve competition in the sector.
Design sans titre-307
FTC prevents John Hess from joining Chevron board after merger
The Federal Trade Commission imposes restrictions on Chevron as part of its acquisition of Hess Corporation, preventing John Hess from sitting on the board of directors to limit the risk of collusion and preserve competition in the sector.
Design sans titre-307
Chinese recovery temporarily boosts Asian diesel market
The Asian diesel market is benefiting from a one-off rise thanks to Chinese monetary stimulus, but uncertainty persists with weakened fundamentals and a contangoing market structure.
Design sans titre-306
Chinese recovery temporarily boosts Asian diesel market
The Asian diesel market is benefiting from a one-off rise thanks to Chinese monetary stimulus, but uncertainty persists with weakened fundamentals and a contangoing market structure.
Design sans titre-306

Petrobras expands in Africa: New opportunities in Namibia and Angola

After a temporary withdrawal, Petrobras is reinvesting in Africa with key holdings in São Tomé and Príncipe, and plans additional projects in Namibia and Angola, thus strengthening its position in the African oil market.
Congo and Ghana sign energy cooperation agreement
SNPC and GNPC have signed a strategic agreement to strengthen their collaboration in the oil and gas sectors, with a particular focus on energy infrastructure development and energy transition.
Design sans titre-295
Congo and Ghana sign energy cooperation agreement
SNPC and GNPC have signed a strategic agreement to strengthen their collaboration in the oil and gas sectors, with a particular focus on energy infrastructure development and energy transition.
Design sans titre-295
Military tensions paralyze South Sudan’s oil exports
The blockage of South Sudan's oil exports, crucial to its economy, continues due to military tensions in Sudan, involving the Rapid Support Forces.
Design sans titre-289
Military tensions paralyze South Sudan’s oil exports
The blockage of South Sudan's oil exports, crucial to its economy, continues due to military tensions in Sudan, involving the Rapid Support Forces.
Design sans titre-289
Eni steps up exploration in Libya’s Ghadames Basin
Eni, the Italian oil company, is launching new exploration activities in Libya's Ghadames Basin, with the aim of exploiting under-exploited oil resources despite the country's political instability.
Design sans titre-291
Eni steps up exploration in Libya’s Ghadames Basin
Eni, the Italian oil company, is launching new exploration activities in Libya's Ghadames Basin, with the aim of exploiting under-exploited oil resources despite the country's political instability.
Design sans titre-291

BP in India: New opportunities and strengthened energy partnerships

BP is strengthening its presence in India through a series of strategic initiatives, in collaboration with Reliance Industries and Oil and Natural Gas Corporation (ONGC). The aim is to increase local oil and gas production to meet the country's growing demand and enhance energy security.
Russia: Novorossiisk port dispute, Magomedov loses to Transneft
The Stockholm Arbitration Court's rejection of Ziyavudin Magomedov's claim against Transneft closes a major dispute surrounding the strategic port of Novorossiisk. This decision illustrates the legal tensions in the Russian energy sector.
Design sans titre-277
Russia: Novorossiisk port dispute, Magomedov loses to Transneft
The Stockholm Arbitration Court's rejection of Ziyavudin Magomedov's claim against Transneft closes a major dispute surrounding the strategic port of Novorossiisk. This decision illustrates the legal tensions in the Russian energy sector.
Design sans titre-277
Libya: New appointment to the Central Bank, key to the oil crisis
Libya, torn between its eastern and western factions since 2014, has reached a crucial agreement to appoint new leadership to the Central Bank. This agreement, announced on September 25, 2024, could be decisive in unblocking a crisis situation that is paralyzing the country's economy and its oil sector, the state's main source of revenue.
Design sans titre-276
Libya: New appointment to the Central Bank, key to the oil crisis
Libya, torn between its eastern and western factions since 2014, has reached a crucial agreement to appoint new leadership to the Central Bank. This agreement, announced on September 25, 2024, could be decisive in unblocking a crisis situation that is paralyzing the country's economy and its oil sector, the state's main source of revenue.
Design sans titre-276
Brazil: Prio and Sinochem negotiate 40% stake in Peregrino
Prio is in advanced discussions with Sinochem to acquire a 40% stake in the Peregrino oil field. The deal, valued at $1.9 billion, could significantly boost Prio's production.
Design sans titre-274
Brazil: Prio and Sinochem negotiate 40% stake in Peregrino
Prio is in advanced discussions with Sinochem to acquire a 40% stake in the Peregrino oil field. The deal, valued at $1.9 billion, could significantly boost Prio's production.
Design sans titre-274

BRICS accelerate energy exchanges and de-dollarization

BRICS energy ministers focus on the future of global energy markets, highlighting the de-dollarization of trade, despite the challenges of currency fluctuations and the complexity of oil trade.
Kazakhstan boosts Tengiz while consolidating ties with OPEC+.
Kazakhstan maintains its OPEC+ obligations despite a planned increase in production from its Tengiz field in 2025. The Kazakh authorities are closely monitoring market developments to adjust their strategy.
Design sans titre-268
Kazakhstan boosts Tengiz while consolidating ties with OPEC+.
Kazakhstan maintains its OPEC+ obligations despite a planned increase in production from its Tengiz field in 2025. The Kazakh authorities are closely monitoring market developments to adjust their strategy.
Design sans titre-268
Greenpeace obtains judicial review of North Sea projects
Shell and Equinor's oil projects in the UK are facing a judicial review initiated by Greenpeace UK, threatening their development in the midst of the energy crisis.
Untitled design-265
Greenpeace obtains judicial review of North Sea projects
Shell and Equinor's oil projects in the UK are facing a judicial review initiated by Greenpeace UK, threatening their development in the midst of the energy crisis.
Untitled design-265
Emirates: Gulf Navigation strengthens its oil capacity in Fujairah with Brooge
Gulf Navigation approves major acquisition to expand storage capacity in Fujairah. The transaction includes the raising of $122 million in shares, pending shareholder approval.
Design sans titre-264
Emirates: Gulf Navigation strengthens its oil capacity in Fujairah with Brooge
Gulf Navigation approves major acquisition to expand storage capacity in Fujairah. The transaction includes the raising of $122 million in shares, pending shareholder approval.
Design sans titre-264

Rising Chinese demand puts ESPO Blend at a premium to Brent

ESPO Blend oil, from Russia's Far East, has seen its price rise due to strong Chinese demand, crowding out Indian buyers.
IEA: Global oil demand held back by China’s economy
Global oil demand is set to grow at a more moderate pace, below the one million barrels per day mark, mainly due to the slowdown in the Chinese economy, according to recent forecasts by the International Energy Agency (IEA).
Design sans titre-233
IEA: Global oil demand held back by China’s economy
Global oil demand is set to grow at a more moderate pace, below the one million barrels per day mark, mainly due to the slowdown in the Chinese economy, according to recent forecasts by the International Energy Agency (IEA).
Design sans titre-233
The rebound in VLCC rates since the record low of 2023
VLCC tanker rates from the Gulf of Mexico to Europe and Asia are beginning to recover after a year of sharp declines, due to fluctuating demand for crude oil.
Design sans titre-232
The rebound in VLCC rates since the record low of 2023
VLCC tanker rates from the Gulf of Mexico to Europe and Asia are beginning to recover after a year of sharp declines, due to fluctuating demand for crude oil.
Design sans titre-232
TotalEnergies targets production of 220,000 barrels/day in Suriname
TotalEnergies launches the development of the Gran Morgu field offshore Suriname. An FPSO will be installed, with discussions underway to integrate Petrobras into the project.
Design sans titre-230
TotalEnergies targets production of 220,000 barrels/day in Suriname
TotalEnergies launches the development of the Gran Morgu field offshore Suriname. An FPSO will be installed, with discussions underway to integrate Petrobras into the project.
Design sans titre-230

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS