The Caspian Oil & Gas Potentials - A New Survey.The US and Turkey still hope the Caspian region, including Russia Russia, officially the Russian Federation, Rus. Rossiya, republic (2005 est. pop. 143,420,000), 6,591,100 sq mi (17,070,949 sq km). , would seriously rival the Middle East as a source of oil and gas to the world. They expect the Caspian countries, with Iran excluded, would be able to produce by 2010 more than 10m b/d of oil and export over 300 BCM/year of natural gas. By then the Middle East will have the capacity to produce more than twice as much oil, but will be exporting less than 150 BCM/year of gas by pipeline or in LNG LNG (liquefied natural gas): see under natural gas. form.Investment in Caspian oil and gas, already huge and mostly involving Western capital, will require world oil prices to remain high, which will depend on whether or not OPEC OPEC: see Organization of Petroleum Exporting Countries. OPEC in full Organization of the Petroleum Exporting Countries Multinational organization established in 1960 to coordinate the petroleum production and export policies of its will continue to keep supplies restrained. Before OPEC's March 1999 agreement, oil prices were quite low. The fall in oil prices had begun since late November 1997, when OPEC raised production by 2m b/d. It seems that the prices will remain high in the near future. But OPEC, whose ministerial Done under the direction of a supervisor; not involving discretion or policymaking. Ministerial describes an act or a function that conforms to an instruction or a prescribed procedure. It connotes obedience. conference on June 21 increased production by 708,000 b/d, will have to raise the output substantially in September to avert a global recession. The 14th Annual APS Conference, to be held in Nicosia on Oct. 9-11, 2000, will focus on the petroleum market as well as the Middle East, North Africa and the Caspian regions. See conference updates in the What's New section of the APS website at: www.aps-energygroup.com Outline: A new survey of the Caspian region, excluding Iran, will be serialised as from this week's APS Review. It will cover Azerbaijan, Kazakhstan, Russia, Turkmenistan and Uzbekistan. Iran was last surveyed in Volume 52, of Jan-June 1999. The survey will concentrate on the upstream From the consumer to the provider. See downstream. (networking) upstream - Fewer network hops away from a backbone or hub. For example, a small ISP that connects to the Internet through a larger ISP that has their own connection to the backbone is downstream from the larger and downstream From the provider to the customer. Downloading files and Web pages from the Internet is the downstream side. The upstream is from the customer to the provider (requesting a Web page, sending e-mail, etc.). sectors and the decision makers in each of these countries. |
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