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GERMANY WILLING TO ITS REDUCE ENERGY DEPENDENCE ON RUSSIA WITH HELP OF AFRICA  Germany intends to import a gas from Algeria in order to reduce its dependence from the supply of hydrocarbon from Russia, the international analysts interviewed by TrendCapital said.
Last week, during his first official visit to Algeria the German chancellor Angela Merkel expressed Germany’s wish to enhance cooperation with the North African state in the sphere of gas. Merkel said during the meeting with President of Algeria Abdelaziz Bouteflika that his state is the third largest gas supplier to Europe; however Germany does not purchase Algerian gas. The national oil and gas company of Algeria Sonatrach is one of the large gas suppliers to Europe.
According to the German political expert and director of Russia and CIS program of the Foreign Policy Council of Germany Alexander Rar, Germany is looking for an alternative for the Russian gas. |
Hits: 131 | Published: 23 July 2008 | Category: News |
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IMF FORECASTS CUT IN WORLD ECONOMY’S GROWTH RATE  Growth rate of the world economy will reduce from 5% in 2007 to 4.1% in 2008, as well as, and further to 3.9% in 2009, the International Monetary Fund’s (IMF) report on Development prospects of the world economy said.
According to the IMF’s forecasts, the growth rate in the United States will reduce to 1.3% on the average annual basis in 2008. |
Hits: 136 | Published: 23 July 2008 | Category: News |
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RISE IN WORLD OIL DEMAND TO DROP IN 2008: CENTER FOR GLOBAL ECONOMIC STUDIES  The rise in world oil demand will drop by 0.9mln barrels a day in 2008 from 1.1mln barrels in 2007, said a report by Manouchehr Takin, a senior analyst at the London-based Center for Global Economic Studies (CGES), posted on the website of CGES.
According to his estimations, the world oil consumption will total to 86.9mln barrels a day in 2008 against 86mln barrels a day in 2007.
According to the last forecast of the cartel, the oil demand of OPEC will total to 32mln barrels a day in 2008, which is 90,000 barrels less than that of 2007. The oil demand of OPEC will drop by 710,000 barrels by 2009 and it will total to 31.2mln barrels a day.
The world needs more OPEC oil but the producer organization is unwilling to increase output, Energy Intelligence Group said quoting monthly report of CGES. |
Hits: 125 | Published: 22 July 2008 | Category: News |
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US INTERESTED IN INTENSIFICATION OF TALKS BETWEEN AZERBAIJAN AND TURKMENISTAN  The United States are interested in the intensification of talks on the transportation of hydrocarbon from the Central Asia to Europe through Azerbaijan, Steven Mann, senior aid of US Secretary of State for Eurasian Affairs said in his meeting with Natig Aliyev, minister of industry and energy of Azerbaijan in Baku on 15 July.
According to Mann, the US government intends to take measures which will contribute to the development of bilateral relations between Azerbaijan and Turkmenistan which began recently. Washington tries to get Turkmenistan to diversify its gas supplies and to take part in Nabucco project.
According to minister of industry and energy of Azerbaijan Natig Aliyev, the joint Azerbaijani-Turkmen exhibition and conference on oil and gas potential of the two countries will be held in Baku on 9 to 10 September.
During the visit Natig Aliyev and Steven Mann discussed energy security, transportation of hydrocarbon from the Caspian region to the world markets, cooperation in this sphere and tendencies of sharp run up in the oil prices. |
Hits: 118 | Published: 22 July 2008 | Category: News |
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THE NEXT SESSION OF WORKING GROUP ON DEFINITION OF A LEGAL STATUS OF CASPIAN SEA WILL TAKE PLACE IN BAKU. As Ministry for Foreign Affairs informes, the next session of working group on definition of a legal status of Caspian sea will be held on July, 23-24rd in Baku. |
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ISRAEL CAN SERVE AS BRIDGE FOR TRANSPORTATION OF AZERBAIJANI OIL AND RUSSIAN GAS  Turkey and Israel announced on 17 July that they have begun joint analysis into the project of construction of gas and oil pipeline from the Mediterranean shore of Turkey to Israel. According to the Minister of Energy and Natural Resources of Turkey Hilmi Gular, the joint analysis will be completed in ten months and construction of pipelines – in three years.
A source in the Embassy of Turkey in Israel, who preferred to remain anonymous, said to TrendCapital on 18 July that the key goal of the project is the export of the Russian and Azerbaijani gas to Israel. |
Hits: 128 | Published: 21 July 2008 | Category: News |
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TOTAL’S QUIT IS MORAL SUPPORT TO US’S SANCTIONS ON IRAN  French Total oil company’s retreat from Iran is France’s moral support to the United States to exert pressure upon Iran, Ethan Chorin, Senior Fellow in the Middle East Program at the Centre for Strategic and International Studies in Washington, said.
“Total's retreat from Iran is symbolically significant, in that it completes the official withdrawal of Western European oil companies, and lends moral support to U.S. and European efforts to pressure Iran into abandoning uranium enrichment,” Chorin said to Trend Capital via e-mail on 18 July. |
Hits: 130 | Published: 21 July 2008 | Category: News |
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