The Argentine Finance Ministry and Russia’s Vnesheconombank signed an agreement on financing construction of the Chihuido I hydropower plant in the amount of $1.9 billion, the ministry said in a press release. This covers 85% of the project’s estimated cost of $2.23 billion. In April 2015, Russia and Argentina signed about twenty agreements during President…
Ukraine’s Cabinet of Ministers has approved of the project on modernization and overhaul of the section 3,364.5-3,391.2 km of the Urengoy-Pomary-Uzhgorod gas pipeline. The corresponding decision is outlined in the Cabinet resolution No. 523-r dated July 22. The total cost of repairs of the section 26.7 km long was approved at 1.21 billion UAH, in…
The consortium of Azerbaijani Shah Deniz gas and condensate field development produced 5.4 billion cubic meters in the first half of the year, Natural Gas Europe reported citing Azerbaijani top energy official. That figure indicates a 3.8% growth YoY. Daily production hit a new record above 30 million cubic meters. The current output was on…
Kazakh oil company KazMunaiGas Exploration Production (KMG EP) produced 6.08 million tons of oil in H1 of 2016 including its stakes in subsidiaries and joint ventures, up by 0.7% YoY. KMG EP’s subsidiary Ozenmunaigas (OMG) produced 2.78 million tons, up by 2%, KMG EP’s subsidiary Embamunaigas (EMG) produced 1.41 million tons, also up by 2%…
Many oil producing companies working in Kazakhstan observed negative financial result in 2015, according to Vice Minister of Energy Asset Magauov. As per an analysis, 36 companies out of 61 had a negative financial result, he noted. As the Vice Minister noted, drill footage dropped from 2,500 running meters to 1,500 running meters in 2015.…
The European Commission will allocate 3.5 million euros of financial aid for the project for construction of TANAP via which Azerbaijani gas will be delivered to Turkey and then to Europe, said the message from TANAP. These funds will be used to support commercial activities and the integrated facility management system. “The European Commission considered…
Transit of natural gas via Ukrainian gas transport system fell to 136 million cubic meters on July 26, and this is 30% less than average daily transit on July 1 through July 22 (around 190 million cubic meters a day), according to Ukrtransgaz’s data. Transit started falling on July 23 when it was 172 million…