Caspian Sea News
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Updated 3 hours, 20 minutes ago
Kazakh President Nursultan Nazarbayev, who has ruled the Central Asian nation since 1989, threatened to block the Organization for Security and Cooperation in Europe from monitoring elections.
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OAO Lukoil, Russia’s second-largest oil producer, recorded a $955 million impairment charge after a venture with ConocoPhillips found less oil than expected.
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BP Plc and partners in the Azeri- Chirag-Guneshli development in the Caspian Sea pumped 35.4 million metric tons of oil last year, down 13 percent.
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Kazakhstan may construct the country’s fourth oil refinery within the framework of the Kashagan development in the Caspian Sea, Prime Minister Karim Massimov said.
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Azerbaijan’s non-oil economy expanded more than 10 percent in January from the same month a year earlier, President Ilham Aliyev said in comments broadcast on state television channel AzTV.
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Russia, the world’s biggest oil producer, will raise its export duty on most crude shipments by 4.4 percent from March 1 following an increase in the price of the country’s Urals blend.
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Private companies in Russia and Iran are discussing grain shipments to the Persian Gulf country, which faces global sanctions over its nuclear program.
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BP Plc and its partners in a Caspian Sea gas field plan to make a final decision on an export route to Europe by the middle of 2013.
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Dragon Oil Plc said tightening international sanctions against Iran may make it “more difficult” for the Dubai-based explorer to make payments for a rig operating in the Caspian Sea.
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Greek gas supplier Depa SA is convinced that the Interconnector Turkey-Greece-Italy pipeline is the best solution for transporting Caspian Sea gas to Europe, Harry Sachinis, Depa chairman and chief executive officer said.
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