Books on Azerbaijan
Update No: 302- (27/02/06)
Tauras wins Azeri crude tender
Tauras has won a tender called by Azeri state oil company, SOCAR, for a February
consignment of Urals crude to be shipped from the Russian port of Novorossiisk,
SOCAR said, Interfax News Agency reported.
The consignment amounted to 140,000 tonnes, and was to be shipped on February
23-24. Glencore bought the first consignment in 2006. The following companies
bought SOCAR oil from Novorossiisk in 2005: LUKoil International Trading and
Supply Company (Litasco), Vitol Broking, Arcadia, BP Oil, Total, Glencore,
Shell, Mercuria and Sunoil.
Azerbaijan gas production up 16% in 2005
Azerbaijan produced 5.818 billion cubic metres of gas in 2005, up 16.2 per cent
from 2004, a source at the Azeri state oil company, SOCAR, said, Interfax News
Azerbaijan International Operating Company (AIOC), the operator for Azeri-Chirag,
and Gunashli fields, produced 1.888 billion cubic metres of gas, up 87.6 per
cent, due to the start of production at the Azeri field. SOCAR production
dropped 1.7 per cent to 3.93 billion cubic metres in the period. The company's
oil and gas production divisions produced 3.824 billion cubic metres, down 1.3
per cent. Production by joint ventures and operating companies working at inland
fields totalled 106.6 million cubic metres, down 14 per cent.
Gas production in Azerbaijan in December totalled 577.2 million cubic metres,
including 340.2 million cubic metres produced by SOCAR and 237 million cubic
metres produced by AIOC. Associated gas produced by AIOC under the full-scale
development of Azeri-Chirag-Gunashli fields is transferred to Azerbaijan free of
charge. Azerbaijan has six operating companies producing gas at inland fields -
Salyan Oil Ltd (Kyursengi and Garabagly fields), Karasu Operating Company (Kyalameddin
and Mishovdag), Shirvanoil (North, Central, and South Gyurovdag), Gobustan
Operating Company (Southwest Gobustan), Binagadi Oil (Binagadi) and AzShengli (Pirsagat),
and two joint ventures - Azerbaijani-Malaysian-Turkish ANSHAD Petrol (Neftchala)
and Azerbaijani-German AzGerneft (Ramany).
Azerenergy, Russia's UES reach agreement for 2006
The state-owned electric power producer, Azerenergy, and Russian supplier, RAO
Unified Energy Systems, agreed on electric power supplies in Azerbaijan for
2006. Azerenergy said, New Europe reported,
"Russia will provide electricity for about 3.6 cents per KWt/hr from
January to November 2006." Azerbaijan's government started several projects
to restore and add new capacity to the power sector. Unfavourable economic
conditions, high taxes and non-payment of electric bills left the power sector
without sufficient working capital and investment funds. Baku imports electric
power for 2.99 cents per KWt/hr from Moscow last year but now the company raised
the price to 3.99 cents starting this year due to increase in cost value of
Foreign debt grows 5% to USD 1.673bn in 2005
Azerbaijan's foreign debt grew a tentative 5 per cent to US$1.673 billion in
2005, the Azerbaijani Finance Ministry said, Interfax News Agency reported.
Foreign debt accounted for 14.1 per cent of GDP at the beginning of 2006 and the
per capita debt was US$201.5, up 5.5 per cent. The increase in foreign debt is
the result of a more active borrowing policy conducted by the Azerbaijani
government in 2005, in particular for developments in the electricity industry
and road construction, the ministry said.
Azerbaijan to receive 1bn Euro in WB loans
Azerbaijan is planning to receive more than one billion Euro in loans from the
World Bank in 2006-2008, Azerbaijani finance minister, Avaz Alakbarov, said,
Interfax News Agency reported.
"The programme for the new three-year cooperation strategy with the World
Bank has already been prepared. The bank's board of directors will discuss this
document in February," he said. The total amount of loans envisioned in the
new three-year strategy may exceed one billion Euro, he said. The money is
expected to be spent on carrying out infrastructure programmes. Azerbaijan has
been a World Bank member since 1992. The bank has provided over 710 million Euro
to Azerbaijan to finance various programmes since that time.