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Letter from Austria: OPEC delivers wake-up call
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
Azerbaijan enjoys rare upstream FID
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
OPEC+ keeps more barrels off market in April
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
OPEC compliance improves amid market share threat
The surprise decision to bring on extra supply has coincided with better quota conformity from laggards in the group, Petroleum Economist analysis shows
Kazakhstan struggles with energy balance
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
OPEC+ plays with a straight bat
The oil alliance’s decision to keep to the plan amid tightening economic fundamentals seems to have been lost in the global geopolitical maelstrom, misplaced market speculation and haze of conjecture
Kazakhstan Azerbaijan Opec BP
NJ Watson
15 February 2018
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Central Asia on the move

States are looking for energy output, Central European ones for diversification and integration

Kazakhstan's oil production in 2018 promises finally to get the boost that the government has been banking on since the Kashagan project was first meant to come on line in 2005. Assuming no repetition of problems that have delayed this Caspian Sea project by 12 years, Kashagan should see output rise to around 370,000 barrels a day in 2018, up from 270,000 b/d in the last quarter of 2017, and to 450,000 b/d within two years—the Phase 1 design capacity first envisaged by the consortium's partners (see map). This Kashagan production will help reverse the decline in Kazakhstan's crude output, which the energy ministry says will end 2017 at around 1.7m b/d. That's in line with the quota it agreed

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