Major events in Caspian countries' oil and gas industry for last week (Jan. 16-21) 23 January 2012, 14:24 (GMT+04:00)
Kyrgyzstan, Azerbaijan agree on construction of oil refinery
An agreement in principle to start construction of an oil refinery in Kyrgyzstan with a capacity of 2 million tons per year was reached at a meeting of the Kyrgyz President Almazbek Atambayev and head of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev. The oil refinery is expected to be commissioned in late 2013. The meeting between President Atambayev and Mr Abdullayev discussed supply of crude oil and oil products from Azerbaijan, as well as prospects for oil exploration and production in Kyrgyzstan. Mr Abdullayev said a group of specialists will be sent soon to examine construction of the oil refinery and start of the company's activity in Kyrgyzstan's energy sector.
CIG Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
