Fuel

Inflation-scarred consumers fuel Turkish economy by spending

Inflation-scarred consumers fuel Turkish economy by spending

Turkey’s economy lurched forward at a faster rate than expected, as the highest inflation in 24 years prompted consumers to bring forward purchases in anticipation of steeper prices ahead. Gross domestic product rose an annual 7.6% in …

Competition Agency starts inspection of fuel prices in Georgia

Competition Agency starts inspection of fuel prices in Georgia

The Georgian National Competition Agency has started inspection of domestic fuel prices to study the competitive behaviour of large sellers in the Georgian market and its compatibility with the competition legislation, the Agency announced on …

UK government believes fuel crisis stabilising

UK government believes fuel crisis stabilising

UK Treasury Chief Secretary Simon Clarke told Sky News the petrol crisis is "back under control" as more fuel is now being delivered to petrol stations than is being sold. After days of long queues at petrol stations and with …

Fuel and food costs rise in Kyrgyzstan

Fuel and food costs rise in Kyrgyzstan

Rises in the prices for fuel and food are posing a big headache for Kyrgyz authorities ahead of a season that often sees politics warm up, Eurasianet writes. On March 2, the new government banned fuel exports beyond the borders of the Eurasian Economic Union, citing the need to stabilize prices on the domestic market, which have risen notably since the beginning of the year and are set to shoot up again in coming weeks

Kremlin keeping eye on fuel market situation

Kremlin keeping eye on fuel market situation

Russia's presidential press secretary Dmitry Peskov said that the Kremlin is monitoring developments on the fuel market. "Appropriate expert teams of the Administration of the Russian President are closely …

World press on the visit of the Greek prime minister to Russia (April 8, 2015)

World press on the visit of the Greek prime minister to Russia (April 8, 2015)

The official visit of the Greek prime minister Alexis Tsipras to Russia provoked much attention among Western media. Both countries are now experiencing difficulties in their relations with the main European powers. Russia's relations with Europe are severely strained because of the Ukrainian crisis and international sanctions. Greece is now in the process of difficult negotiations with European leaders over the country's financial problems.

BP changes Vice President responsible for Shah Deniz

BP changes Vice President responsible for Shah Deniz

BP announced today the appointment of Joe Murphy as Vice President of Southern Corridor for Azerbaijan-Georgia-Turkey (AGT) Region, reports Trend referring to  a message from BP.In this new role, Joe will be responsible for Shah Deniz gas value chain (GVC) integration and BP's external affairs for all Southern Corridor matters, including representation of the Shah Deniz GVC to the governments of Greece, Albania, Italy and to the European Commission (EC). Joe will be based in Baku and will be a member of the AGT Leadership Team.

Turkey is dissatisfied with Iran’s gas prices

Turkey is dissatisfied with Iran’s gas prices

Natural gas prices, offered by Iran, do not satisfy Turkey as they are very high, Turkish Energy and Natural Resources Minister Taner Yildiz said, Turkish TV channel TRT Haber reported on January 30, writes Trend.He went on to add that currently Turkey and Iran are in talks on gas prices, but no agreement has been reached between the parties.Commenting on Ankara's appeal to international arbitration over the issue of Iranian gas price, Yildiz said that Turkey's interests in this matter are above everything.

Explosion on the Iranian-Turkish gas pipeline

A powerful explosion has occurred on the Iranian-Turkish gas pipeline. It is the second explosion to occur on this pipeline. This time it took place near the Iranian border on the Turkish side. Fire brigades are continuing to fight the fire.A similar incident last time caused a full stoppage of gas deliveries to Turkey, following which Russia's "Gazprom" increased imports of gas to Turkey from 14 to 22 million cubic meters, reports ITAR-TASS.

SOCAR and "Gazprom" deciding the price of gas for next year

The State Oil Company of Azerbaijan and Gazprom are holding negotiations to decide the cost of gas in 2011, reports Trend, referring to Russian trade representative Yuri Shedrin.According to him, the price has not yet been set and negotiations are still in progress. This year a billion cubic meters of gas will be exported to Russia. Next year 2 billion will be exported.According to the treaty, signed on the 14th of October in Baku, Azerbaijan will export to Russia no less than 500 million cubic meters a year from 2010 to 2014.

State Oil Company of Azerbaijan (SOCAR) enters Ukrainian retail market

State Oil Company of Azerbaijan (SOCAR) enters Ukrainian retail market. SOCAR's first petrol station in Ukraine started working in test mode on August 7th in Odessa, reports Turan. The station sells high-octane fuel from Romania and Lithuania and EN590 standard fuel.The official entry into the retail market of the Odessky region is planned for September, a SOCAR representative said.