Central Asia

Azerbaijan and Kazakhstan are going over increasing the transit of Kazakh oil through Azerbaijan to 57 million tonnes, an official at Azerbaijan's. stateowned oil business SOCAR said on Thursday. Kazakhstan is attempting to decrease reliance on Russia with. regard to its energy exports, as most of Kazakhstan's flow of. 1.5 million barrels daily or 1.5% of worldwide supply go by means of. various Russian pipelines. We are presently performing negotiations with the Kazakh. side about increasing oil transit from this country to 5-7. million tonnes, stated Zaur Gakhramanov, an advisor to SOCAR's. president. Azerbaijan plans to open an oil terminal...

Turkey and Azerbaijan have actually agreed to extend their natural gas supply agreement, due to end at the end of this year, till 2030, and to provide Turkmen gas to Turkey, Turkish Energy Minister Alparslan Bayraktar said on Tuesday. The extended Azerbaijan-Turkey gas deal covers the delivery of 3.5 billion cubic metres (bcm) of natural gas per year to Turkey until 2030, a SOCAR official told in Baku. In addition to the accord in between Turkey's state gas grid operator BOTAS and the Azeri gas supply business, 4 contracts were signed between BOTAS and Azerbaijan's state oil company SOCAR for...

In spite of moving Sunday's. oil output decisionmaking conference online, a number of OPEC+. ministers prepare to fly to Saudi Arabia's capital Riyadh, 2. OPEC+ sources stated. OPEC oil-producing countries plus others including Russia make. up OPEC+, which is set to choose its production policy for the. remainder of 2024 and potentially next year. Sources stated OPEC+ is expected to talk about a complex deal. that may extend deep oil production cuts into 2025. Numerous OPEC+ ministers have actually been welcomed to Riyadh, sources. stated on Friday. OPEC+ members are currently cutting output by a total of. 5.86 million barrels...

Urals petroleum differentials firmed to outdated Brent on Friday in the middle of softer freight rates for the grade's shipments to Asia. Urals differentials to outdated Brent in northwest Europe firmed by some 70 cents per barrel to discounts above minus $13. per barrel, computations reveal. Discounts for 140-tonne Urals cargoes in the Mediterranean. have actually narrowed by some 25 cents and stand above minus $10 per. barrel to Brent. Freight rates for Aframax ships, which usually fill some. 720,000 barrels of Urals crude in Primorsk or Ust-Luga for a. one-way trip to Indian ports, alleviated to average some $7...

At least three tankers with Russian Urals oil on board picked a longer path to Asia around the Africa's Cape of Great Hope in March and April as military risks in the Red Sea stay high, 2 traders stated and LSEG information revealed. 2 tankers, Fos Picasso and Hydra, bring some 200,000 metric lots of Urals oil packed from Baltic in April went to India around Africa, while the vast bulk of the vessels with Russian oil have actually been selecting the shorter path by means of Suez channel and Red Sea, LSEG information shows. Many ships bring Russian items...

Urals crude differentials were steady on Wednesday in a quiet session due to a public holiday in lots of countries for May 1, while discounts for CPC Blend oil to dated Brent narrowed somewhat in fresh trade. PLATTS WINDOW * ExxonMobil sold 100,000 metric tons of CPC Blend loading from Yuzhnaya Ozereyevka on May 22-26 to Vitol at dated Brent minus $3.60 per barrel CFR Augusta. * ExxonMobil had actually offered the exact same freight in the previous session at the very same cost, but had actually not discovered a purchaser. * No quotes or offers were produced Urals and...

Russia and its partners inside the Eurasian Economic Union (EEU) have agreed to continue highsulphur bunker fuel usage and production for vessels inside the bloc up until the end of 2026, the Eurasian Economic Commission ( EEC) stated on its website. The International Maritime Company (IMO), of which Russia is a member, implemented a 0.5% sulphur content limitation for bunker fuel worldwide from 2020, in one of primary changes for the marine market in the last few years. However, the EEU has actually been sluggish to carry out the limit for its domestic water-borne transport, which allows its refineries to...

Kazakhstan braced on Friday for levels on the Ural River to rise sharply, something that might threaten 2 of its western areas and key oil facilities, while Russia came to grips with floods in and near Siberia. Both countries have in the last couple of weeks fought the worst floods in decades, which have required 10s of thousands individuals to evacuate. Hundreds of individuals were developing a 7-km (4.3-mile) barrier on Friday along the Ural River in the town of Yanvartsevo, in the West Kazakhstan area, about 20 km from the Russian border, which officials stated would likewise secure the...

Kazakhstan has raised its arbitration claims against the global oil majors that established the Kashagan oilfield to more than $150 billion, Bloomberg News reported on Wednesday, citing individuals familiar with the matter. Kazakhstan's energy minister stated last year it was pressing ahead with $16.5 billion in claims versus the consortium over disputed job costs and had no prepare for a possible out-of-court settlement. The report on Wednesday stated the figure had jumped after the Kazakhstan federal government added a claim for as much as $138 billion, showing the estimation of the value of oil production that was assured to the...

Black Sea CPC Blend oil exports via the Caspian Pipeline Consortium (CPC) pipeline system are set to decline to about 4.9 million metric heaps in May from 5.4 million planned for April, three sources familiar with the matter stated. Daily CPC Blend oil exports will decrease by some 12% in May from April's strategy, calculations showed. A drop is expected due to prepared maintenance on the Tengiz oilfield, the sources stated. Tengizchevroil said on Wednesday it prepares to conduct set up maintenance at one of six production trains at the Tengiz oilfield in Kazakhstan in May amidst reports of an...

The corporate exodus from Russia considering that its 2022 intrusion of Ukraine has actually cost foreign companies more than $107 billion in writedowns and lost earnings, a analysis of business filings and statements showed. The volume of losses have increased by one 3rd given that the last tally in August last year, underscoring the scale of the financial hit to the business world from Moscow's invasion, as well as highlighting the sudden loss of Western knowledge from Russia's economy. As Russia's intrusion continues amid faltering Western military help, and the granularity of Western sanctions programs boosts, companies still intending to...

Russia has actually asked Kazakhstan to stand all set to provide it with 100,000 tons of gas in case of lacks exacerbated by Ukrainian drone attacks and failures, three market sources informed . Among the sources stated a deal on utilizing reserves for Russia has currently been concurred. Russian and Kazakhstan's energy ministries did not right away respond to requests for remarks. Neighbouring Belarus has actually currently consented to help Russia with gas supply. Drone attacks had actually knocked out some 14% of Russian primary oil refining capability as of end-March. Up until now authorities have said the situation on...

Japan's Inpex for the first time last month provided petroleum from its share in the giant Kashagan oil field in Kazakhstan to a German refinery via Russia's Druzhba pipeline, three sources knowledgeable about the shipment and export data told on Thursday. It was a trial supply of oil from Kashagan in April, no products (are) prepared in May, among the sources knowledgeable about the plans said. The delivery - to the Schwedt refinery - demonstrates how Kazakhstan is developing oil exports by means of the Druzhba pipeline, which links Russian oil fields to Europe and which otherwise would be empty...

Caspian Pipeline Consortium, which exports petroleum from Kazakhstan via a Russian Black Sea terminal, anticipates its oil exports to fall 7% except a. initial target owing to lower loadings from a key field, it. stated on Wednesday. Products from the giant Tengiz oilfield are forecasted to. fall by 7.9 million metric loads (158,000 barrels per day) from. prepared levels while loadings from the Kashagan oilfield are. expected to increase by 3.3 million loads. CPC also stated that deviation from the plan will reach 4.8. million heaps. It had actually initially planned to export more than 70. million heaps (1.5 million...

Kazakhstan resumed gas exports in May that had actually been on hold since May 2022, sending 2,000 metric tons of the fuel to Georgia in May, 3 market sources familiar with the matter stated on Wednesday. Kazakhstan banned fuel exports 2 years ago to protect its domestic market from fuel lacks. Before the ban was introduced, in April 2022, Kazakhstan delivered some 26,000 tons of gas to foreign markets. Prior to this Kazakhstan likewise suspended fuel exports in 2021, while in 2020 its fuel exports totaled up to 494,000 tons. The Condensate refinery, an independent refinery in Kazakhstan, was granted...

Uzbek energy firm Uzbekneftegaz remains in talks with Azerbaijan's SOCAR over signing up with a task to establish Shah Deniz, the biggest gas field in the Azerbaijani area of the Caspian Sea, an Uzbek authorities stated on Tuesday. The problem of Uzbekneftegaz's involvement in gas production tasks is being gone over, Uzbekistan's minister of Investment, Market and Trade Lyaziz Kudratov said, including the talks were about participation in BP-led Shah Deniz. Settlements are also underway for SOCAR to participate in oil and gas production projects in Uzbekistan, he stated. On its website BP stated Shah Deniz is among the world's....

Urals petroleum differentials to outdated Brent were stable once again on Thursday, while CPC Blend oil differentials firmed amid enhanced need from refiners in Europe, traders said. CPC Blend remained less expensive than regional alternatives in the Mediterranean, while European refiners had an interest in purchasing June cargoes of petroleum as the spring upkeep season ended, traders stated. Caspian Pipeline Consortium (CPC), the export path for CPC Mix, increased oil products in January-April by 4% from the very same duration a year previously to 22.715 million metric lots (1.44. million barrels per day), 2 industry sources said on Monday. PLATTS...

Azeri BTC unrefined differentials reduced on Friday after an offer in the afternoon trading window, while CPC Blend remains under pressure, as oil need in Mediterranean remains weak, traders said. * Any Danish relocate to limit the flexibility of navigation of Russian ships in the Baltic straits will be viewed as a hostile act and draw retaliation, Russian foreign ministry spokeswoman Maria Zakharova said on Friday. PLATTS WINDOW * SOCAR offered to Eni 650,000 barrels of Azeri BTC from Ceyhan over May 21-25 at dated Brent plus $1.55 per barrel. That was down by some 30 cents from the current...

Urals crude differentials to dated Brent were the same on Wednesday, while premiums for Azeri BTC oil alleviated further. * Premiums for Azeri BTC oil continued to compromise amid lower demand for April barrels due to seasonal refinery maintenance in Mediterranean area, traders stated. * Oil loadings from Russia's western ports from March 20-31 are anticipated to exceed 2.5 million barrels per day (bpd) and hit the greatest level since April 2022, according to market and trading sources, along with estimations. * India's Dependence Industries, operator of the world's biggest refining complex, will not buy Russian oil packed on tankers...

Urals crude differentials to dated Brent were steady on Tuesday, while Russia's Lukoil NORSI refinery was knocked out in a significant Ukrainian drone attack. * Industry sources informed on condition of privacy that the main crude distillation system (AVT-6) at NORSI was damaged in the attack, which implies that at least half of the refinery's production is stopped. Lukoil declined to comment. * The NORSI refinery blackout might cause additions to the March loading plan for Russia's western ports, but no additional packing slots have been announced so far, traders said. * The United States is trying to help India...

Urals unrefined differentials to outdated Brent were stable on Tuesday, while the head of Russia's top carrier Sovcomflot said the business's tanker activities were restricted by U.S. sanctions. Sanctions have affected the company's operations, limiting. our location and commercial prospects, Sovcomflot CEO Igor. Tonkovidov informed press reporters. The U.S. enforced sanctions on Sovcomflot on Feb. 23 as. Washington seeks to reduce Russia's earnings from oil sales that. it can utilize to support its military actions in Ukraine. The Majority Of April-loading Urals oil freights have been placed. with end users and trading activity was low, traders stated. The Caspian Pipeline...

CPC Blend crude differentials to outdated Brent firmed on Monday on an offer outside the Platts window, while Russian oil exports from its western ports were modified up 10% in March amid refinery failures, sources stated. * Russia will increase oil exports through its western ports in March by practically 200,000 barrels daily (bpd) against the month-to-month strategy to 2.15 million bpd, and market participants expect an additional boost in exports amid continuous drone attacks on Russian refineries. * A cargo of CPC Blend altered hands outside the Platts window some 95 cents above the most recent rate estimates for...

Urals unrefined differentials were steady on Wednesday, while CPC Blend oil relieved further to dated Brent after a deal and stayed at the lowest levels in 2 months. * Azeri BTC petroleum exports from Turkey's Ceyhan terminal are set at 18.40 million barrels in June compared to 16.50 million barrels in May, according to a loading schedule seen . * CPC Blend's loading plan for June is expected to be launched later this week or early next week. PLATTS WINDOW * Azerbaijan's SOCAR sold to Petroineos 88,000 metric heaps of CPC Mix filling from Yuzhnaya Ozereyevka on May 29 -...

Urals unrefined differentials to dated Brent were unchanged on Monday, while Marchloading freights were provided in the market. Sellers actively provided Urals oil loading from Russian ports in March, though traders did not hurry to make offers as they attempted to approximate possible result from the current U.S. sanctions imposed on Russian oil shipping business Sovcomflot and tankers. The sanctions might increase Russian oil shipping costs and weigh on tanker schedule, traders stated. PLATTS WINDOW There were no bids or offers for CPC Blend, Azeri BTC or Urals oil in the Platts window on Monday. NEWS * A slump in...