BP, Total Oil

Azerbaijan plans to cooperate with BP, Total, Equinor to develop renewable energy sources

Azerbaijan is negotiating with the world's largest oil and gas companies to develop alternative and renewable energy sources, the country’s Energy Minister Parviz Shahbazov said.

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SOCAR may take part in geological exploration in Uzbekistan

Uzbekneftegaz JSC expects to attract SOCAR (State Oil Company of Azerbaijan) to carry out geological exploration in Uzbekistan.

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Oil transportation via BTC in increased slightly in H1 2018

The volume of oil pumping through the Baku-Tbilisi-Ceyhan (BTC) pipeline in the first half of 2018 amounted to 16 million 552 thousand tons, which is 0.4% higher than the same period of 2017, Inter

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As of December 1 Azerbaijan extracted 250 million tons of profitable oil from Azeri-Chirag-Gyuneshli - SOCAR

As of December 1st, 2017 the total volume of Azerbaijan's profitable oil, produced so far from the Azeri-Chirag-Guneshli (AChG) fields block, was 250 million tons, Khoshbakht Yusifzadeh, SOCAR

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WSJ: Sanctions don't harm the Russian oil industry

The economic sanctions, imposed by Western countries on Russia in 2014, haven’t inflict any visible damage to the Russian oil industry.

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The largest oil and gas companies of the world lose profit. Russian market participants are more stable in the light of low price of crude oil

After two years of the reduction of costs, canceled projects and tens of thousands of job layoffs haven’t helped the largest Western oil and gas companies to cope with the low price of oil.

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SOCAR reduces oil transportation via Baku-Tbilisi-Ceyhan pipeline by 16%.

In January-October 2015 the State Oil Company of Azerbaijan (SOCAR) will pump 14 million 549.129 thousand tons of Azerbaijani oil via Baku-Tbilisi-Ceyhan (BTC), a message posted on the official website of SOCAR informs. In comparison with the same period of 2014 the export of oil via BTC dropped by 2 million 727.342 thousand tons, or by 15.8%.

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Total fully turns away from coal extraction

​Total has announced of the termination of coal production. It says this is not the consequence of financial difficulties but a conscientious refusal caused by the company’s intention to participate in the fight with the climate change.
Until recently the operator of coal development Total Coal South Africa has been in the structure of Total. In the summer 2014 Total signed an agreement on the sale of its coal production to one of the South African companies. The Government of the South African Republic approved this agreement and on August 20th 2015 it came into force.
In this connection P. Pouyanne, CEO of Total, said that the sale of the coal business meets the company’s general strategy. Realizing the consequences of coal use in the electric energy generation that emits by twice more carbon dioxide at burning than natural gas, the company has decided to correct the direction of its development.

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In H1 2015 the BTC transports 3.7 million tons of Turkmen oil.

In January-July 2015 the Baku-Tbilisi-Ceyhan (BTC) pipeline, through which most crude oil in Azerbaijan it exported, transported 3.7 million tons of Turkmen oil compared to 3.1 million tons transported in the same period in 2014, the report of the State Statistics Committee of Azerbaijan for January-July 2015 informs.
In 2014 the BTC transported 5.6 million tons of Turkmen oil compared to 3.3 million tons transported in 2013.

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Oil giants reduce costs by $60 billion, but it’s not enough

This year, the world oil industry has already reduced the cost by $60 billion, but this is not enough. According to the Bloomberg, the largest producers have to reduce spending by another $26 billion , and investments by 10%.
All this in order to perform the "sacred" payment of dividends, analysts of Jefferies Group LLC, and Banco Santander SA note. The oil companies prepare for a long period of low prices, as the global oversupply is not going to decrease.
The international producers such as Royal Dutch Shell and Chevron, strain every nerve to reach breakeven. They have to do it with oil prices that are by $10 less than last year, when the costs reduction just started, says Jason Gammell of the Jefferies Group.

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