Why TAP?

Why TAP? CESD: TAP will contribute to EU Energy Security but Russian monopoly in Central and Eastern Europe will remain BP and the State Oil Company of Azerbaijan signed an agreement to deliver Azerbaijan’s gas to Europe via the Trans-Adriatic Pipeline (TAP) rather than the competing Nabucco West project at the Four Seasons Hotel in Baku on June 28th, 2013 TAP is a consortium established by Norway’s Statoil (42.5%), Swiss’s Axpo (42.5%),... Read More

TAP Defeated Nabuco-West

TAP Defeated Nabuco-West The Shah-Deniz Consortium will announce the decision on the development of a pipeline to transport Shah-Deniz 2 natural gas to Europe on June 28, 2012. The BP-led group developing Azerbaijan’s vast gas reserves has chosen the Trans Adriatic Pipeline (Tap) via Greece to link to Europe, defeating the Nabucco West consortium, which had backed a route to Austria. The project reflects a European Union push for alternatives... Read More

Economists speak about “BP issue”

Economists speak about “BP issue” After the President of the Republic of Azerbaijan criticized BP, some stakeholders have called for suing the company. For example, the Member of Parliament Vahid Ahmadov said that as a result of BP’s failure to perform adequately Azerbaijan lost $8.1 billon of dollars. Thus, the government had to react on time.” The MP also noted that this violation had to be prevented: “$ 8.1 billion should be turned to... Read More

Refusing cooperation with BP meets neither economic nor other interests of Azerbaijan

Refusing cooperation with BP meets neither economic nor other interests of Azerbaijan “BP is the largest investor in Azerbaijan. It took an active part in the implementation of various development projects in the country. The largest share of the UK’s foreign investment in Azerbaijan is belong to BP”-said expert economist Vuqar Bayramov in answer to FaktXeber.com’s question:“Could BP refuse to continue working in Azerbaijan?” Mr. Bayramov... Read More

OPEC keeps Azerbaijan’s oil output forecast unchanged

OPEC keeps Azerbaijan’s oil output forecast unchanged OPEC kept its forecast on Azerbaijani oil production unchanged at 0.96 million barrels per day (bpd) for 2012 and 2013. “Azerbaijan oil production is predicted to remain steady in 2012 and average 0.96 million bpd, flat compared to the previous month,” OPEC’s September oil market report says. According to OPEC forecasts, the country’s oil production will amount... Read More

BP seeks stake in pipeline to export Azerbaijani gas

BP seeks stake in pipeline to export Azerbaijani gas BP is interested in acquiring a significant share in the Trans Adriatic Pipeline (TAP) or Nabucco-West pipeline projects seeking to supply Azerbaijani gas to Europe, the company`s vice-president for development of Azerbaijan`s Shah Deniz gas field, Al Cook, was quoted as saying by Argus Media, a UK-based independent provider of market data and business intelligence. In late June, the consortium... Read More

BP reports about developments around Shah Deniz – 2

BP reports about developments around Shah Deniz – 2 Major steps will be taken in the near future to ensure the supply of gas from the Shah Deniz 2 field to Turkey and its subsequent transport to Europe, the newly appointed representative of the British BP in Turkey Bud Fackrell, who is also responsible for the activities of BP Turkey in Azerbaijan and Georgia said, newspaper Milliyet wrote on Friday. This week, BP announced its preliminary engineering... Read More

BP: Revised Nabucco project is big step forward

BP: Revised Nabucco project is big step forward The change of Nabucco gas pipeline project’s conception was a big step forward, BP’s Vice President for Shah Deniz Full Field Development Alasdair Cook said in an interview with the Financial Times. “We believe Nabucco West is a much improved offer. We’re really pleased,” Cook said. Nabucco Gas Pipeline International proposed a new conception of the project (Nabucco-West)... Read More

Shah Deniz-2 drilling plans announced

Shah Deniz-2 drilling plans announced Drillings of new test wells and boreholes as part of the second stage of the Azerbaijani Shah Deniz offshore gas condensate field development is not allowed until authorisation of the second phase, a source in the oil and gas market told Trend news agency on Monday. Currently work on the SDX-07а test well drilling is being carried out, the source said. “The second phase involves a multi-billion dollar... Read More

BTC Oil Export Declined 7,0 % in January, 2012

BTC Oil Export Declined 7,0 % in January, 2012 Baku-Tbilisi-Ceyhan (BTC) oil exported 2,7 million tonnes of oil in January, 2012. CESD reported that, oil export dropped of 200,000 tonnes last month compare with January 2011. In total, BTC oil export declined 7,0 % in January, 2012. 32,224,000 tonnes of oil exported through BTC pipeline in 2011. Overall, since the start of the pipeline operation the pipeline has exported 178,558,000 tonnes by the... Read More

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