Iranian president urged investors to invest capital into oil and gas industry of the country
Iranian President Hasan Rouhani has offered the world oil and gas companies to invest $110 billion into the Iranian oil industry and $75 billion into the petrochemical field.
He also told to the representatives of big companies at the World Economic Forum in Davos that they could invest $33 billion into the railway projects in Iran. The statement was made at the meeting with about 30 top managers of big energy corporations within the framework of the forum, reported Fars agency.
Meanwhile, the Iranian Oil Ministry has decided to postpone the conference scheduled for April 2014 in London, where it was planned to present the new schemes of contracts with foreign investors in the oil industry. Mehdi Hosseini, head of the Committee created in the Ministry to draft new oil contracts, said that the conference will take place in July 2014. He also refuted statements of media about postponement of the conference till November 2014.--0--
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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