"Tatneft" and SOCAR agree on cooperation in Azerbaijan

For the first time, an Azerbaijani company has used the Northern Sea Route (NSR) to ship oil to the People's Republic of China. Until now, the NSR route to China had been dominated by vessels from the Russian shipping giant “Sovcomflot.” According to information from LSEG (London Stock Exchange Group) and two traders, a tanker managed by the Azerbaijani company has embarked on the Northern Sea Route to China for the first time.

Kazakhstan aims to boost its oil production to 104.8 million tons by 2029, announced National Economy Minister Nurlan Baibazarov at a government meeting yesterday. "The volume of oil production will increase from 97.2 million tons in 2025 to 104.8 million tons in 2029," he said.

At a briefing following a government meeting, Timur Zhantikin, CEO of Kazakh Atomic Energy Stations JSC, revealed that the capital costs for constructing a nuclear power plant in Kazakhstan could range from $10 to $15 billion. "We cannot provide an exact cost at this time because the project is not yet finalized. However, we have data on overnight costs. These are capital expenditures... We use this to build financial-economic models, which show a cost range of $10 to $15 billion," he noted.

Turkmen President Serdar Berdymukhamedov met yesterday with the Chairman of the Board of “Dragon Oil” (UAE), Sayid Al Tayyer. According to the official newspaper "Neutral Turkmenistan," the meeting focused on expanding the long-standing successful partnership between the two parties.