The idea of Transcaspian oil pipeline Aktau-Baku construction occurred in the mid of 90-s of the past century and Is directly connected with promotion of the Baku-Tbilisi-Ceyhan project. The initiators of the project considered that connection to Kazakhstani oil would allow the maximum load for exporting oil pipeline and enhance the involvement of Kazakhstan into Caspian hydrocarbons transportation. Initially the plans suggested finalization of the pipeline construction by 2003-2004.
The associated gas production is steadily growing in Kazakhstan, the country's Oil and Gas Ministry told Trend on Jan. 10.
KazMunaiGas and Schlumberger agree to cooperate
As both Norway and Russia race to extract potentially vast amounts of energy from the Barents Sea, a small Norwegian town in the high Arctic could become the hub for a new era of oil and gas exploration.
The North African region has played a decisive role over the past few years in shaping global political agendas. It is the birthplace of the Arab Spring (Tunisia) and the region often most affected by Islamist terrorist groups in the wider MENA area. Terrorism impacts the energy security of the European Union, and has the potential to become a source of significant instability in the near future.
Azerbaijani State Oil Fund budget approved for 2013
A shale-oil boom will thrust the U.S. ahead of Saudi Arabia as the world's largest oil producer by 2020, a radical shift that could profoundly transform not just the world's energy supplies but also its geopolitics, the International Energy Agency said.
It’s not a secret that today the main financial-economic and partially geographic resource of Azerbaijan within its policy in Karabakh conflict – are particularly significant incomes from Caspian energy sources production (oil and gas). They give hope to military-political leaders of Azerbaijan to achieve cardinal advantage in military-technical sphere and activation of armament race, to finance big regional projects around Armenia, to invest or even open corruption financial aid in third countries, and undertake other steps with the target to achieve favorable change of processes within Karabakh conflict, to force Armenia to make one-side concessions. Simultaneously oil factor also increases geopolitical significance of Azerbaijan per estimations of regional and even world actors.
America’s energy boom is spurring a clash between the realms of politics and economics. Meaningful exports of oil have been banned for almost a century. But with output surging and crude fetching a 20 percent discount at home, producers want to ship it overseas. BP, Royal Dutch Shell and four others have applied for limited licenses to do just that. Unblocking trade could benefit everyone.