Energy and Economy

 

OPEC+ Countries Agree to Extend Oil Output Cuts Through 2024

At the 35^th Ministerial Meeting of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries in Vienna on June 4, OPEC and OPEC+ countries agreed to regulate the level of total daily crude oil output throughout the year of 2024. The daily crude oil output for 2024 for the OPEC+ countries, which includes Azerbaijan and Kazakhstan, was set at 40.46 million barrels. According to the agreement, Kazakhstan will extend its voluntary oil production cut of 78,000 barrels per day, while the daily crude oil output for Azerbaijan is set to be at 551,000 barrels per day.

Source: Anadolu Agency, Trend News Agency

Turkmenistan to Work with the United States to Reduce Methane Emissions

On June 2, Turkmenistan’s State Information Agency announced the establishment of a commission to reduce the state’s methane emissions and “systematically reduce greenhouse gas emissions.” Although no formal agreements have been signed, U.S. officials have repeatedly underscored the importance of reducing Turkmenistan’s methane emissions, and several U.S.-based media outlets have reported that the parties are preparing to sign joint agreements. 

Source: AkiPress

TotalEnergies Promises Startup of Production at Azerbaijan Oil Field Within Weeks

On June 1, at an energy conference in Baku, TotalEnergies vice president for European exploration and production Jean-Luc Guiziou, announced that the first gas and condensate  flows from the Absheron deep-water field to processing facilities will start up “within weeks.” From the Absheron field, the first 50 billion cubic meters will be reserved for domestic consumption, and the remaining outputs will be exported to foreign markets via the BTC pipeline.

Source: Caspian Barrel  

Security and Politics

 

NATO Chief Asks Türkiye to Allow Sweden’s Entry into Military Alliance

NATO Secretary General Jens Stoltenberg urged Türkiye to allow Sweden to enter the U.S.- led military alliance at a press conference in Istanbul on June 6, after meeting with Turkish President Tayyip Erdogan. Ankara has conveyed concerns over Sweden’s efforts to counter terrorism ahead of July’s NATO Summit in Lithuania. However, Türkiye has faced greater pressure to curb their opposition. Stoltenberg argues that “membership will make Sweden safer, but also make NATO and Turkey stronger.”

Source:  Al Jazeera, Times of Israel 

Kazakhstan Prepares to Host Astana International Forum this Week

Kazakhstan is preparing to host the Astana International Forum (AIF) June 8-9. President Kassym-Jomart Tokayev announced in February plans to hold the AIF, stating that its purpose is to address global challenges. The forum will include over 1,000 participants, 100 speakers, 40 panels, and bilateral sideline meetings centered around the theme, “Tackling Challenges Through Dialogue: Towards Cooperation, Development and Progress.” 

Source: Astana Times

Peace Deal with Azerbaijan Possible by the End of 2023, Senior Armenian Official Says

During an interview aired on Armenia’s public television channel on June 4, Secretary of the Security Council of Armenia Armen Grigoryan stated that achieving a peace deal between Azerbaijan and Armenia is possible by the end of 2023. Commenting on the most recent meetings held on June 1 in Chisinau, Moldova, between the two sides, Grigoryan said that “the international community’s support is highly important for the peace agenda, and we find this meeting to be positive.” Grigoryan further added that there is a chance that a peace deal could be signed with Azerbaijan by the end of the year if the intensity of the talks is maintained.

Source: Armenpress

Sources: AkiPress, Al Jazeera, Anadolu Agency, Armenpress, Astana Times, Caspian Barrel, Times of Israel, Trend News Agency