Energy in Azerbaijan

[Artashes]

Re: Energy in Azerbaijan

“We sure that the oil price will rise again”, SOCAR Vice President for Investments and Marketing Elshad Nasirov said in his interview to Swiss SRF channel.
“The sharpest increase in oil price was recorded when the Bolsheviks occupied Baku in 1920 because ¼ of world oil were produced in Baku. We sure that the oil price will rise again”, Nasirov said.
Answering the question “Are you concerned over oil price decline?”, the Vice-President said: “Absolutely no!”.
“The oil price depends on various factors and this makes difficult to predict the price dynamics. Of course, economic issues play certain role, but there are also political factors which regulate the inter-state relations. Oil price may fall to $20, but this will not be long-term, because investment in oil sector will decrease. Today, a number of oil producing countries can produce the oil with lower initial cost. However, the supply will fall below demand”, Nasirov said.
He added that the initial cost of oil production in Azerbaijan is below $25: “As you know, we have offshore and onshore extraction of oil. Compared to oil extraction from old onshore fields, the oil extraction from new offshore fields is more cost-effective. So, the oil production in Azerbaijan costs on average $20”.
Source: SOCAR

http://www.hellenicshippingnews.com/oil-production-in-azerbaijan-costs-on-average-20/

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So, confession. It costs anywhere between $20-$25 for them to pump oil. This means that they're almost at the point where they're pumping oil for free. Thought this day wouldn't come until 2020 but here it is.

In the spring of 1953 I made a mistake, so I know that there is a potential that I could be mistaken.
--- offshore oil/gas extraction is cheaper than onshore extraction.
Does not matter weather old or new, that's 180 degrees backward.
Let's see, mmm, digging a hole at the bottom of a lake is easier than digging a hole on dry ground .
The cost of drilling a hole on dry ground in yesteryears wages is more expensive than today's hyper inflated prices.
I could go on but the only absurd things I like are jokes.
Classic turc .

[Mher]

Re: Energy in Azerbaijan

“We sure that the oil price will rise again”, SOCAR Vice President for Investments and Marketing Elshad Nasirov said in his interview to Swiss SRF channel.
“The sharpest increase in oil price was recorded when the Bolsheviks occupied Baku in 1920 because ¼ of world oil were produced in Baku. We sure that the oil price will rise again”, Nasirov said.
Answering the question “Are you concerned over oil price decline?”, the Vice-President said: “Absolutely no!”.
“The oil price depends on various factors and this makes difficult to predict the price dynamics. Of course, economic issues play certain role, but there are also political factors which regulate the inter-state relations. Oil price may fall to $20, but this will not be long-term, because investment in oil sector will decrease. Today, a number of oil producing countries can produce the oil with lower initial cost. However, the supply will fall below demand”, Nasirov said.
He added that the initial cost of oil production in Azerbaijan is below $25: “As you know, we have offshore and onshore extraction of oil. Compared to oil extraction from old onshore fields, the oil extraction from new offshore fields is more cost-effective. So, the oil production in Azerbaijan costs on average $20”.
Source: SOCAR

http://www.hellenicshippingnews.com/oil-production-in-azerbaijan-costs-on-average-20/

---

So, confession. It costs anywhere between $20-$25 for them to pump oil. This means that they're almost at the point where they're pumping oil for free. Thought this day wouldn't come until 2020 but here it is.

A couple pages back there was an article where it was stated to be $11, its so hard to get accurate information
but anyway, that's awesome news

[Artashes]

Re: Energy in Azerbaijan

A couple pages back there was an article where it was stated to be $11, its so hard to get accurate information
but anyway, that's awesome news

When I work remote campsites, I'm the lowest paid on the team. I make $1000 per week after the taxes. But I'm in Alaska. When I worked on supply boats taking supplies to offshore rigs , I and everyone on the boat had to be coast guard certified, an absolute. All rigs have the same requirement. Now the Caspian sea rigs and boat operators are run by turcs, namely tatar turcees. I can only guess that the requirement for these ,(1) jobs , (2) construction , (3) qualification , might not be as stringent. But maybe I'm wrong (lol).
My guess is somebody's brother inlaw might be a qualification. But maybe I'm wrong. However, somebody somewhere has got to know what they are doing, or something bad could happen, like an explosion or oil spill, or people getting killed.
Whatever the baboons costs is, $20 per barrel is calamitous. Remember who they are selling to and who they are dealing with ... BP is one of them. If you hand a penny to BP and then it's handed back to you, you'll notice it's thinner. The reason is BP will squeeze that penny so hard.
The monkey in the above article is talking out is ...

[HyeSocialist]

Re: Energy in Azerbaijan

When I work remote campsites, I'm the lowest paid on the team. I make $1000 per week after the taxes. But I'm in Alaska. When I worked on supply boats taking supplies to offshore rigs , I and everyone on the boat had to be coast guard certified, an absolute. All rigs have the same requirement. Now the Caspian sea rigs and boat operators are run by turcs, namely tatar turcees. I can only guess that the requirement for these ,(1) jobs , (2) construction , (3) qualification , might not be as stringent. But maybe I'm wrong (lol).
My guess is somebody's brother inlaw might be a qualification. But maybe I'm wrong. However, somebody somewhere has got to know what they are doing, or something bad could happen, like an explosion or oil spill, or people getting killed.
Whatever the baboons costs is, $20 per barrel is calamitous. Remember who they are selling to and who they are dealing with ... BP is one of them. If you hand a penny to BP and then it's handed back to you, you'll notice it's thinner. The reason is BP will squeeze that penny so hard.
The monkey in the above article is talking out is ...

The baboons are now taxing capital outflows by 20%. I wonder if they're targeting BP specifically. To use your analogy, that penny is going to be squeezed even harder. Even SOCAR repurchased $500mln of their outstanding bonds back, they know they're going to need to be able to borrow later when they're on the verge of tanking.

All this oil talk raises the question of whether or not these fools are crazy enough to nationalize the ACG and Shah Deniz fields.

[Vrej1915]

Re: Energy in Azerbaijan

In the spring of 1953 I made a mistake, so I know that there is a potential that I could be mistaken.
--- offshore oil/gas extraction is cheaper than onshore extraction.
Does not matter weather old or new, that's 180 degrees backward.
Let's see, mmm, digging a hole at the bottom of a lake is easier than digging a hole on dry ground .
The cost of drilling a hole on dry ground in yesteryears wages is more expensive than today's hyper inflated prices.
I could go on but the only absurd things I like are jokes.
Classic turc .

The cost of azeri off shore oil is between 30-35 USD.

[Artashes]

Re: Energy in Azerbaijan

The cost of azeri off shore oil is between 30-35 USD.

They got some stiff competition then.

[Vrej1915]

Re: Energy in Azerbaijan

Plus the contract with BP is a masterpiece of a kind.
All the overcost of technical nature, maintenance...... failures are 100 % for the turks.
And those overcosts doubled in a decade, compared to the date the contract was signed....

[Artashes]

Re: Energy in Azerbaijan

They got some stiff competition then.

Plus the contract with BP is a masterpiece of a kind.
All the overcost of technical nature, maintenance...... failures are 100 % for the turks.
And those overcosts doubled in a decade, compared to the date the contract was signed....

Yes, Ali baba had 40 thieves, but BP has 40 + lawyers and they all got knives.
Good news thanks

[Azad]

Re: Energy in Azerbaijan

Only the Saudis can extract it at round $20 per barrel due to volume vs initial investments. My guesstimate the azeri’s will be around $30 and $45 for the offshore IF they are very efficient. Also, let us not forget the pipeline transit fees for two countries. By the time it is sold in turkey their cost it will be around $40+

[Gevz]

Re: Energy in Azerbaijan

LOL

Azerbaijan to get $ 4 billion from the IMF and World Bank

Economics. Azerbaijan holds negotiations with the International Monetary (IMF) Fund and the World Bank (WB) on allocation of 4 bln loan package, the IMF representative told “Financial Times”, APA reports.

According to him, the IMF and the World Bank delegation will arrive in Baku to discuss the loan package with Azerbaijani government within Jan 28 – Feb 4.


Enjoy the loan fukwits