Azerbaijan to Double Oil Production

Thursday, March 29, 2007
Azerbaijan plans to double its oil output by 2010, the country's energy minister said Wednesday. Azeri Energy Minister Natiq Aliyev said the Caspian nation's crude production, which stood at 32.3 million tons last year, would reach 65 million tons in 2010. Aliyev said most of the oil would be produced at the Azeri-Chiraq-Guneshli offshore fields. Another offshore field, the Shah Deniz gas project, will account for the bulk of the nation's natural gas output, which is expected to reach 30 billion cubic meters in 2010. Crude supplies began last year via the $4 billion Baku-Tbilisi-Ceyhan pipeline that allows the West to tap oil from the Caspian Sea fields.

Washington staunchly supported the 1,750-kilometer pipeline as part of a strategy to tap sources of crude outside of the Middle East and draw the Caspian states away from Russia. Gas supplies from Shah Deniz are soon expected to start flowing through a newly constructed parallel gas pipeline from Baku via Georgia to Erzerum in eastern Turkey. Aliyev said Azerbaijan would eventually control marketing and sales of gas from the Shah Deniz. Source: AP, MT

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

Finance

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

Oil Rally is Not Just About Hedge Funds: Kemp

Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0991 sec (10 req/sec)