Energy in Azerbaijan

[Azad]

Re: Energy in Azerbaijan

Things are looking stable for oil in staying on the lower side

"Long crude is no longer the hot trade.

Despite signals from OPEC that production cuts could last well into 2018 with larger production curbs than the first, Crude Oil seems to be without a bid.
US continues with another six added in the first week of May to bring the total US rigs to 703, which is up from 316 a year ago."

https://www.dailyfx.com/forex/technical/home/analysis/usoil/2017/05/08/Oil-Tec-Analysis-May-8-TY.html

"Iran Plans To Raise Crude Oil Production Capacity By 3 Million Bpd

… quoting a senior official as saying that the move was aimed at boosting the Islamic Republic’s footing in OPEC and the global market.

http://oilprice.com/Energy/Crude-Oil/Iran-Plans-To-Raise-Crude-Oil-Production-Capacity-By-3-Million-Bpd.html

[Azad]

Re: Energy in Azerbaijan

As we predicted shet is hitting the fan fast.

"Under the Radar: Failure of largest lender only beginning of Azerbaijan’s worries

IBA has entered Chapter 15 in the United States and is asking foreign investors and institutions for support as it works to manage its unwieldy bad loans, allegedly 80% of its portfolio.
Azerbaijan’s financial sector dragging down entire government
Azerbaijan is pinning its hopes on recent substantial natural gas finds, with an ultimate goal of supplying Europe via the Trans Anatolian (TANAP)
Unfortunately for SOCAR, the company has also become embroiled in an ongoing corruption scandal in Malta, long a favourite money laundering destination for Azeri oligarchs and officials according to the Carnegie Endowment for International Peace. The scandal highlights the connections between SOCAR, the Aliyev family and the threat this relationship poses to Azerbaijan’s grand ambitions."

You can read in details the rest of azerbaijan's complete disintegration of the country.

http://globalriskinsights.com/2017/05/failure-largest-lender-azerbaijan-worries/

[HyeSocialist]

Re: Energy in Azerbaijan

As we predicted shet is hitting the fan fast.

"Under the Radar: Failure of largest lender only beginning of Azerbaijan’s worries

IBA has entered Chapter 15 in the United States and is asking foreign investors and institutions for support as it works to manage its unwieldy bad loans, allegedly 80% of its portfolio.
Azerbaijan’s financial sector dragging down entire government
Azerbaijan is pinning its hopes on recent substantial natural gas finds, with an ultimate goal of supplying Europe via the Trans Anatolian (TANAP)
Unfortunately for SOCAR, the company has also become embroiled in an ongoing corruption scandal in Malta, long a favourite money laundering destination for Azeri oligarchs and officials according to the Carnegie Endowment for International Peace. The scandal highlights the connections between SOCAR, the Aliyev family and the threat this relationship poses to Azerbaijan’s grand ambitions."

You can read in details the rest of azerbaijan's complete disintegration of the country.

http://globalriskinsights.com/2017/0...aijan-worries/

Was reading this on my morning commute and could not have been more happier. I truly do hope that the leadership in Armenia sees what the result of absolute corruption is. xxxx the Azeris. We should aim to be the exact opposite of these retards.

[Azad]

Re: Energy in Azerbaijan

"Azerbaijan gets 9.5% decline in oil production" <<< This is from one of their Gov. sites. If they are admitting on almost 10% decline, we know it is worse.

They are doing everything to keep their population under control due to the coming hardships. It is just around the corner.

"Azerbaijani court blocks Radio Free Europe website

On Friday Baku's Sabail district court ruled in favour of blocking access to the website of Radio Free Europe/Radio Liberty's (RFE/RL) Azerbaijani Service, sparking criticism at what is seen as an increasing crackdown on media freedom in the country."

https://calvertjournal.com/news/show/8291/azerbaijani-court-blocks-radio-free-europe-website

"France is concerned by the Azerbaijani authorities’ decision to block several Internet news sites in the country.

It calls on the Azerbaijani authorities to abide by the international commitments they freely entered into and to fully respect the freedom of information and of the press, which are fundamental to the development of civil societies and the consolidation of democratic institutions.
France will continue to closely monitor the media situation in Azerbaijan."

http://www.diplomatie.gouv.fr/en/country-files/azerbaijan/events/article/azerbaijan-press-freedom-15-05-17

[Azad]

Re: Energy in Azerbaijan

It was $900 million and it seams now it is $3 billion

"International Bank of Azerbaijan Seeks U.S. Court Protection

Despite capital infusions, bank has been hurt by steep decline in oil prices and subsequent currency fluctuations

The International Bank of Azerbaijan, the country’s largest lender, filed for bankruptcy in New York Thursday to aid the restructuring of some $3.3 billion in debt."

https://www.wsj.com/articles/international-bank-of-azerbaijan-seeks-u-s-court-protection-1494618685

[Shant03]

Re: Energy in Azerbaijan

LOL that country has become a dumpster fire nobody wants to bother dealing with

[Azad]

Re: Energy in Azerbaijan

LOL that country has become a dumpster fire nobody wants to bother dealing with

Few sites (including Reuters) have been stating that the azeri state oil fund SOFAZ is around $33 billion (2016) according to Shakhmar Movsumov, the fund's executive director.

In one of the articles I posted it states ...

"The government has even raided Sofaz, the country’s sovereign wealth fund in order to shore up IBA: Sofaz’s holdings have dropped to a mere $64 million, down from $523 million in 2014."

http://globalriskinsights.com/2017/05/failure-largest-lender-azerbaijan-worries/

[HyeSocialist]

Re: Energy in Azerbaijan

Few sites (including Reuters) have been stating that the azeri state oil fund SOFAZ is around $33 billion (2016) according to Shakhmar Movsumov, the fund's executive director.

In one of the articles I posted it states ...

"The government has even raided Sofaz, the country’s sovereign wealth fund in order to shore up IBA: Sofaz’s holdings have dropped to a mere $64 million, down from $523 million in 2014."

http://globalriskinsights.com/2017/0...aijan-worries/

The globalrisks article doesn't provide a citation for the 523 or 64. Proving just how powerful oil is, these retards are still allowed at the table for talks.

[Azad]

Re: Energy in Azerbaijan

The goat fkers are not only losing their assets due to low oil prices they are taking down other countries assets with them.

"Kazakhstan: Pension Funds Lost in Azerbaijan Venture

Kazakhstan’s beleaguered state pensions fund has found itself the target of a fresh bout of public indignation after losing hundreds of millions in a doomed Azerbaijani investment.

Privately run broadcaster KTK reported this week that managers at the Single Accumulated Savings Fund, or ENPF in its Russian initials, sunk around 70 billion tenge ($224 million) into the International Bank of Azerbaijan. This lender has recently cited liquidity issues as grounds for failing to respect its international liabilities and filed for bankruptcy.

Members of parliament are livid and have accused pension fund managers of incompetence, particularly since there had previously been warnings that the Azerbaijani bank was in trouble."

http://www.eurasianet.org/node/83606

Let us hope we hear less sucking noises coming from the azeri/kazakh love affairs.

[londontsi]

Re: Energy in Azerbaijan

I find all this interesting and good news.

Doing some research on the internet things raise more questions than answers.

Most importantly are we confusing invested assets with cash in hand i.e. liquidity issues.

https://www.ft.com/content/b8a71de4-be99-11e4-8036-00144feab7de

This article from FT. states a claim that Sofaz has a pool of investments in real estate in London, Paris, Moscow, Seoul as well as investments in equities and Gold.

The value of these investments is 37 Billion.

The thing is when investments are acquired or disposed of they are usually announced.
There are global registers who also track such acquisitions and disposals.

Although this article is dated I am still confused whether Sofaz has liquidity issues or has divested their investment AND have a liquidity crisis.

The terms used for their NewYork bank was restructuring.
If you are totally broke you cannot restructure but if you have assets against liabilities you need time to divest to meet obligations.

Both scenarios are bad for Azerbaijan, however, one outcome requires more patience from us for the expected conclusion.

.