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On 16 November in Astrakhan Lukoil president, Vagit Alekperov told journalists that his company will spend over $16 billion over the next decade to develop the country’s Caspian offshore Korchagin and Filanovskii oil and natural gas fields in the Caspian, at the signing of a cooperation agreement with the Astrakhan Region.

In the past three decades the Islamic Republic of Iran has developed a well-earned sense of paranoia. First, in September 1980 Saddam Hussein invaded Iran in what he thought would be a quick military victory, but which quickly turned into an eight-year bloody slugfest, leaving an estimated 500,000-1,000,000 dead before the guns fell silent.

One of Washington’s key policy tenets since the 1991 collapse of Communism has been to pry out from under Moscow’s control as much of the energy assets of the post-Soviet space as possible.

•Head of Turkmengaz Fired and Replaced with Deputy
•CYBERCOM to Go Operational This Month
•Govt Takes over Hungarian Plant after Deadly Toxic Spill
•French Transport and Oil Industry Strikes Risks Radicalization
•Bolivia to Start Lithium Production in October
•ISAF’s Torkham AfPak Border Crossing Reopened

Economic Strategy of Turkmenistan

Posted by Oilprice.com on May 3rd, 2010

In April 2010, President Gurbanguly Berdimuhamedov of Turkmenistan made public his newly released “Economic strategy of Turkmenistan: Relying on the people, for the sake of the people.”

The recent crisis and instability in Kyrgyzstan, highlighted the fragility of security and the potential weakness of the political systems throughout the region and exposed new dimensions in the conduct of Kazakhstan’s foreign policy that may well prove pivotal for US energy interests in the Caspian Sea region.

Gazprom: Angel or Demon?

Posted by Oilprice.com on January 28th, 2010

Gazprom faces regular opprobrium for its bullying ways of using energy as a pressure and political tool. Seen by some, mostly Russians, as the symbol of a successful and strong Russia, others see it as a dominating juggernaut, economic right arm of the Kremlin implementing, or should we say, imposing its policies by using energy as a weapon.

On December 14, 2009, an inauguration took place that deserves more attention than it received because it marks an economic power shift to the benefit of three Central Asian countries and China and to the detriment of Russia.

Turkmen Gas - Caveat emptor

Posted by Oilprice.com on October 31st, 2009

The hydrocarbon Riches of Turkmenistan remain the last great prize, sought and fought over by Russia, China and Western investors.

Energy investing opportunities open up from investors in the Caspian Sea.

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