The hits keep on coming for companies invested in the North Caspian Operating Company, the consortium developing Kazakhstan’s giant Kashagan oil field. One of the world’s largest and most complex oil field development projects, Kashagan has been plagued by delays and cost overruns for years. The project briefly came on stream late last year only… Keep reading →
The giant Kashagan oil field development project offshore Kazakhstan’s territorial Caspian Sea will be shut down for at least two more years, according to Quartz. Already woefully overdue and over budget, the project being developed by a consortium that includes some of the world’s largest international oil companies must now construct new pipelines that… Keep reading →
Russia’s President Vladimir Putin said he will deposit his salary in a shady bank targeted by western sanctions. The bank deals a lot with the Kremlin and Russian energy businesses, including Gazprom. “Little has been known about Bank Rossiya, which has risen to become the country’s 15th largest bank by assets last year from 54th… Keep reading →
After repeated delays to the start-up of Kazakhstan’s giant Kashagan field, and not one, but two incidents that forced its shutdown in the first month that the field was on stream, some might call the project cursed. But the latest in the string of mishaps – a gas leak that has prompted an indefinite shutdown… Keep reading →
This week’s biggest deal happened in Washington, DC, where the House and Senate finally reached an agreement to reopen the US government and raise the debt ceiling. But there were also several energy-specific transactions and pending transactions that merited notice: Mexico’s state-controlled oil and gas company Pemex has voided a tender for the second phase… Keep reading →
Declining moose populations across North America alarm scientists and lack a definitive cause, but climate change appears to play a role. [New York Times] What do you get for $50 billion? In Kazakhstan it buys a problematic oil field. The giant, long-overdue and over-budget Kashagan field halted output due to a gas leak. This is… Keep reading →
The giant Kashagan oil field located in Kazakhstan’s North Caspian Sea is one of the largest fields discovered in recent history. The field was extremely challenging to develop and its cost skyrocketed from original estimates around $60 billion to a reported $136 billion. After numerous delays, first oil was produced from Kashagan on September 11,… Keep reading →
In this report published by the German Marshall Fund, Washington Institute fellow Simon Henderson discusses ways of surmounting the challenges Israel and Cyprus face as they seek to develop newfound oil and gas deposits in the Eastern Mediterranean Sea. [The Washington Institute for Near East Policy] A bit further to the northeast, the Caspian Sea… Keep reading →
