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Auto gas price rises due to gel depreciation

Energy company ‘Eko Gaz” released a statement that auto gas price increase was directly connected to devaluation of the national currency Georgian Lari and was not in any way caused by the main supplier of natural gas in Georgia company “Socar.” In the middle of December the price of Compressed …

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SOCAR increases gas tariff for Georgia’s commercial consumers

Socar Georgia Gas company increases the cost of natural gas for commercial consumers of Georgia, the company said on Feb. 3. “There was a need to adjust the price of natural gas for consumers of Georgia’s private sector given the volume of natural gas imports and changes in the national …

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Azerbaijan’s role as alternative gas supplier grows

Trend-The role of Azerbaijan as an alternative supplier of gas to European markets grows, the research assistant of the Center for the Study of Central Asia and Caucasus of the Institute of Oriental Studies (Moscow) Stanislav Pritchin told to reporters. “Long-term projects that are being implemented within the framework of …

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China to help boost oil recovery from fields in Kazakhstan

Kazakhstan’s national oil and gas company KazMunaiGas (KMG) and the China National Petroleum Corporation (CNPC) will jointly work on increasing the oil recovery and utilization of the accompanying gas at fields in southern Kazakhstan. The agreement on the expansion of technical cooperation in the oil and gas sector between CNPC …

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BP to make hundreds of job cuts as oil price slumps

BP will spend $1 billion on making hundreds of job cuts over the next year, in response to the continued slump in global oil prices, the Guardian reported. “We have already been working very hard over these past 18 months or so to right-size our organisation as a result of …

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Iran’s oil minister rejects oil barter with Russia

Iranian Oil Minister Bijan Namdar Zanganeh has rejected reaching any agreement with Russia to barter oil in return for staple goods, the Islamic Republic Mehr news agency reported on Dec. 10. Zanganeh was reacting to new reports quoting Russian Economy Minister Alexei Ulyukayev as saying Moscow plans to sign contracts …

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Azerbaijan ships 1.8m tons of oil via Ceyhan

Over 1,847 million tons of Azerbaijani oil was shipped from Ceyhan port to world markets in November, SOCAR reported. Of this figure, more than 1, 120 million tons belonged to the State Oil Fund of the Republic of Azerbaijan. According to official figures, a total of 26,442,278 tons of Azerbaijani …

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Gasoline prices at SOCAR Gas stations in Georgia drop to minimum

The prices for gasoline at all gas stations of the State Oil Company of Azerbaijan (SOCAR) in Georgia have been reduced again by 2-3 tetri ($1=1.82 GEL), as the oil prices have dropped on the world market. (Tetri is a monetary unit of Georgia, equal to one-hundredth of a lari.) The …

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