THE EXTERNAL STATE DEBT OF AZERBAIJAN F0R JANUARY - JUNE HAS GROWN BY 16%
BAKU.10.10.2003.MEDIA-PRESS: The external debt of Azerbaijan made $1.578 bn in the first half of the year and increased by 16.3% in comparison with the beginning of the year. The Agency "Interfax-Azerbaijan" has informed about this with a reference to the data of the Ministry of Finance of the Republic.
BAKU.10.10.2003.MEDIA-PRESS: Since the beginning of the year the vessels of the Caspian Shipping Company transported 9.944 MM tons of cargo. This is by 1.412 MM tons more than for the analogous period of the past year and by 1.344 MM tons higher than it was planned. Media-Press has been informed about this in the press-service of the CSC.
BAKU.10.10.2003.MEDIA-PRESS: The State Concern "Azerbaijan Airlines" (AzAl) renews flights of its aircrafts to Moscow since October 26. There will be two races, which will be carried out annually by two air vessels, the agency "Interfax-Azerbaijan" has been informed in the State Concern.
BAKU.10.10.2003.MEDIA-PRESS: For January - September 2003 the Azerbaijan population purchased consumer goods by a total of 11.2 trln. Manats. In comparison with the analogous period of the past year this rate has increased by 10.2%.
BAKU.10.10.2003.MEDIA-PRESS: Within frameworks of the European Union on the technical assistance to the higher educational schools (TEMPUS) for 2002 - 2003 two projects will be carried in Azerbaijan.
BAKU.10.10.2003.MEDIA-PRESS: The candidate to the Presidents of Azerbaijan Mr. Ilham Aliyev has the largest chances to win on the elections of October 15. The data of the sociologist poll, conducted by the Center of the Sociological Researches "Lider-Media".
BAKU.10.10.2003.MEDIA-PRESS: The project of the intergovernmental agreement on foundation of the oil and transport system Aktau-Baku will be prepared and provided for consideration of the governments of Kazakhstan and Azerbaijan by the end of the current year. The Managing Director on the transport structure and service projects of the National Company of Kazakhstan "KazMunayGaz" Mr. Kairgeldi Kabildin has declared about this in Almati.
BAKU.10.10.2003.MEDIA-PRESS: The company Gobustan Operating Company (GOC), the operator of the project on development of the block "The Southern-Western Gobustan" started the drilling of the fifth well on the field "Gyarbi Gadjiveli" of the project depth 1800 m.
BAKU.10.10.2003.MEDIA-PRESS. The operator of the development of the contract area "South-Western Gobustan" Gobustan Operating Company (GOC) have not started the conduction of three-dimensional seismic exploratin 3D. As Media-Press has been informed in the GOC, they will start this work since the approval of the budget for new financial year. We shall note that the budget for this financial year has been approved on a level of $15 MM.
BAKU.10.10.2003.MEDIA-PRESS: For nine months of 2003 the Baku Oil Processing Plant (OPP) "Azneftyag" has exported 648.291 thou tons of the oil products by a total of $126.5 MM.
BAKU.10.10.2003.MEDIA-PRESS: For January-September of 2003 Azerbaijan purchased 2.9755 cubic meters of gas and September deliveries made 315.2 MM cubic meters of them.
BAKU.10.10.2003.MEDIA-PRESS: The meeting of the Ukrainian Premier Mr. Victor Yanukovich with the Vice-President of the USA Mr. Richard Cheyni has passed in Washington. And its level is remarkable - since long time ago the White House have not opened its "frong door" for the high-ranked Ukrainian officials, the newspaper "Vremya Novostey" reports. By the official version the meeting of Mr. Cheyni with Mr. Yanukovich was devoted to issues of the economic cooperation.
BAKU.10.10.2003.MEDIA-PRESS: The Ministry of Energy of the USA has distributed the statement that up to the end of the year prices for oil will be kept about $30 for barrel. Besides, the analysts of the Ministry believe that in the beginning of the year the OPEC will make else one reduction of oil deliveries to the world market.
The volume of the external debt related to the forecasted GDP makes 23% by rates of the first half of a year and this corresponds to beginning of the current year.
The credits received from the international financial structures for conduction of the economical reforms have made $497MM in the structure of the external debt. The debts of Azerbaijan to the International Currency Fund made $276 among of this total and debts to the International Monetary Fund made $221 MM.
The total volume of credits received by the enterprises of the country under of the guarantees of the state for the investment projects makes $1.011 bn. In this number $370 MM were transferred to the projects in the energetic sector, $132 MM were allocated for agriculture and melioration, $147 were allocated to the transport sphere, $65 MM were allocated for the chemical industry, and $162 - to the oil and gas sector.
Increasing of the external state debt in the first half of a year without the guarantee budget obligations occurred in account of reception of the credits of the International Currency Fund ($18 MM), the World Bank within the second tranche of the project SAC-II ($34 MM) as well as the German Bank KFW for the JC "Azerenerji" (15 MM Evro).
The rest credits were received by the enterprises and organizations of the country under guarantees of the state.
In 2003 Azerbaijan will carry out payments in account of redeeming the external debt by a total of about $160 - 170.
SINCE THE BEGINNING OF THE YEAR THE CASPIAN SHIPPING COMPANY HAS TRANSPORTED 10 MM TONS OF CARGO
More than a half of the cargo turn-over - 6.668 tons make oil an oil products. The dry cargo carriers transported 853 thou tons of cargo, ferry-boats carried 2.423 MM tons. For this period the volume of transportation through the EuroAsian transport corridor made 7.808 MM tons and the transit cargos made 7.451 MM tons.
In the Caspian aquatory the ships of the shipping company transported 9.280 MM tons of cargos, what is by 1.41 MM tons more than the planned volume. 8.262 MM tons of cargos were transported between the ports of the CIS and 5.793 MM tons were transported by the tanker fleet. The main routes are: Aktau - Baku , Turkmenbashi - Baku, Alacha - Baku, Okarem - Absheron. The cargo transportations on routes Aktau - Baku, Turkmenbashi - Baku have grown by 298 thou tons in the current year.
The vessels of the CSC transported 1.17 MM tons of cargos in the Iranian direction, 875 thou tons of them are an oil and oil products.
Since the beginning of the year a volume of the passenger transportations made 10.2 thou persons.
In the past year the ships of the company transported 11.378 MM tons of cargos. In this year it is planned to increase a volume of the cargo transportations up to 12 MM tons. The tanker fleet is able to transport up to 15 MM tons of oil and oil products. After reception of new tankers of the deadweight by 12 thou tons of each one may be increased up to 18 MM tons in a year. In the past year oil transportations of the CSC made 7.3 MM tons.
The vessels of the CSC travel as well in other seas, visiting to the ports of 39 countries. The cargos delivered to the Caspian Sea from the ports of the Baltic and Black-Mediterranean Seas basins through the Volgo-Baltic and Volgo-Don navigation systems, go to the ports of Iran without reshipment. The ships of the Caspian Shipping Company operating in the Black Sea - Azov basin, carry out cargo transportations of the foreign freighters to the ports of Europe, the Middle East and the Northern Africa.
THE STATE CONCERN "AZERBAIJAN AIRLINES" RENEWS THE FLIGHTS TO MOSCOW
AzAl intends to operate the new "Boeing-737" on this route, and its arrival is expected on October 20.
At the present time aircrafts of the Russian companies "Aeroflot", "Domodedovo Airlines" and "Pulkovo" as well the Azerbaijan Imair and Azerbaijan-American Turan Air carry out flights from Baku to Moscow.
FOR JANUARY - SEPTEMBER 2003 THE POPULATION OF AZERBAIJAN PURCHASED CONSUMER GOODS BY A TOTAL OF 11.2 TRLN. MANATS
By information of the State Statistics Department of Azerbaijan the major expenses of the population make purchasing the consumer goods. For the past period 7.5 trln. manats were spent for purchasing the consumer goods of this category, Accordingly, the expenses for non-food goods made 3.7 trln. manats. In comparison with the analogous period of the past year these rates grew up by 9% and 12.9% correspondingly.
For the same period services by 2.2 trln. manats have been rendered for the population and this is higher than the analogous rate of the past year by 10.9%. The juridical persons rendered 69% of the total services volume and the physical ones rendered 31%.
THE EUROPE UNION HAS ANNOUNCED THE START OF THE REALIZATION OF THE PROJECTS ON ASSISTANCE TO HIGHER EDUCATION SCHOOLS OF AZERBAIJAN
As it has been informed in the Coordination Bureau of the Programm of the EU TACIS, one of these projects - "The Modern Engineer Education" - will be entirely realized in the HES of Azerbaijan. The Azerbaijan Technical University, the State Oil Academy, the Sumgayit State University and Mingechavir Polytechnic University are the shareholders of the project.
The rest projects are regional and their realization will be carried out jointly with the countries of the Southern Caucasus. In particular, the Azerbaijan Architecture-Construction University will take part in the project "The economy of the building: the construction and content".
The Gyanja Agricultural Academy will take part in the "The Distribution of the Ecological Knowledge in the East Caucasus" from the Azerbaijan side and the Baku State University and Azerbaijan Medical University will take part in the project "Foundation of the National Study Centers of the Biological and Veterinary Education on the East Caucasus".
"The Azerbaijan HES, which will take part in the projects were selected on December 2002. The EU has completed the procedure of the higher education schools system in all countries of the region and initiated the beginning of the projects. All projects will be carry out jointly with the European Universities during 2 years", - it is noted in the information of the Coordination Bureau of the Program TACIS.
TWO THIRD THE TOTAL NUMBER OF ELECTORS IN AZERBAIJAN ARE READY FOR VOTING ON BEHALF OF THE CANDIDATE MR. ILHAM ALIYEV
In accordance with the information of the Center, 67% of the respondents supported Mr. Ilkham Aliyev, 9% of respondents were ready to vote on behalf the Leader of the National Independence Party Mr. Etibar Mamedov, 7.5% of the electors would support the Leader of the "Musavat" Party Mr. Isa Gambar.
1500 citizens of Baku, Sumgayit, Guba, Agdam, Shemakha, Jalilabad, Aksu, Agdash and Khachmaz Regions of Azerbaijan took part in the sociological poll.
THE AGREEMENT ON THE OIL TRANSPORT SYSTEM AKTAU-BAKU WILL BE PREPARED BY THE END OF THE YEAR
By his words, at the present time the State Oil Company of Azerbaijan (the SOCAR) and the pipeline consortium BTC.Co (Baku - Tbilisi - Ceyhan) conduct "the constructive dilalogue" with "KazMunayGaz" and oil companies, which are interested in supplies of the Kazakhstan oil by the system of the Main Exporting Pipeline (MEP) Baku - Tbilisi - Ceyhan.
As Mr. K. Kabildin has noted, Kazakhstan considers the system Aktau - Baku as the unite transport corridor with the Main Export Pipeline (MEP) Baku - Tbilisi - Ceyhan. On a base of this, Mr. K. Kabildin has emphasized, the Kazakhstan side recognizes "the unchangeableness of all agreements, which have been signed within frameworks of the project Baku - Jeyhan".
He has signed that on the initial stage the oil will be transported by tankers. "In that moment there is no point in the construction of the pipeline through the Caspian bottom. As to the laying the pipeline there are many problems connected with it", - Mr. K. Kabildin has noted in connection with this.
As well the Managing Director of the National Company informed that the Kazakhstan oil consignors from Aktay within intergovernmental agreement will have an access to the system of the MEP. "In a case of availability of free capacities they would be able to use this system for their oil deliveries to the Mediterranean basin", - he has said.
"Kazakhstan creates the favourable conditions for their companies, which wish and have plans of their oil transportation by given route", - he has noted.
As Media-Press has informed, the project of the Kazakhstan oil transportation by the pipeline Baku - Tbilisi - Ceyhan supposes the creation of the company managing the oil transportations by the route Aktau - Baku. It is supposed that the Italian ENI, the French Total S. A. (the former TotalFinaElf), the American ConocoPhilips and Japanese INPEX, producing oil in Kazakhstan and having 15% of sharing in the pipeline consortium BTC Co.
The Organization of the oil transportation by the route Aktau-Baku supposes the construction of new terminal for keeping and oil transportation in Kurik (te port in 76 km to the South-East from Aktau) and as well the connective pipelines. The capacity of the system on transshipment will make 20 MM tons of oil per a year and up to 7.5 MM tons will be transported on the first stage. The necessary infrastructure will be built by the end of 2006, when the first production oil from the field Kashagan is expected.
The negotiations between the SOCAR and "KazMunayGAz" on joining of Kazakhstan to the project of the MEP started on November 2002.
THE DRILLING OF THE FIFTH WELL STARTED ON THE FIELD "SOUTH-WEST GOBUSTAN"
As Media-Press has been informed in the GOC, the preparation for the drilling of else two wells (N101 and 102) on the field Donuzlug is conducted. The project depth of the wells will make 800 and 1100 m accordingly.
We shall remind that before Gobustan Operating Company has drilled two wells on the field "Dashgil" (the project depth 2550 m) and two - on the field "Duvanni". All works are carried out by the local company Caspian Sea Ltd.
In accordance with the agreement on production dividing the exploration period on the "South-Western Gobustan" is completed on November 2003. By this time the GOC should drill 6 operating and one exploration wells and make capital repairs of 19 out-of-date wells. Totally the expenditures of the company will make $15 MM in this year.
The contract on the joint exploration and development of the contract area of the "South-Western Gobustan" was signed on June 1998 and ratified by Milly Mejlis (Parliament) of Azerbaijan on November of the same year. The SOCAR (20%), Union Texas Petroleum (UTP- 40%) and Commonwealth Oil & Gas (40%) became its participants. However, soon the UTP left the project, because considered it nonprofitable. And Commonwealth got 40% of sharing of this company. However, the company was not able to finance 80% sharing in the project and transferred 62,83% of its sharing to two Chinese companies - Smart Asses and CNOPC.
The contract area of the "South-Western Gobustan" consists of 3 blocks with the total square of 604 sq. km. The fields "Shikhzakirli", "Sheytanud", "Vorkyut", "Donuzlug", "Nardaran", "Ilkhichi", "Gyarbi Gadziveli", "Sundi", "Shargi Gadziveli", "Turagay", "Kenizdag", "Gyarbi Duvanni", "Duvanni", "Solakhay" and "Dashgil", which had been developed and then left for a low gas and oil production level. 137 working wells were drilled on the field, however all they were shut down. Besides, else 250 exloring and estimate wells have been drilled.
The total of the capital expenditures for the realization of the project is estimated by $470 MM , produced supplies - 115 MM bbl of oil an 530 bn cubic feet of gas (totally, about 206 MM bbl of oil equivalent).
THREE-DIMENSIONAL SEYSMIC EXPLORATION ON THE CONTRACT AREA "SOUTH-WESTERN GOBUSTAN" WILL BE CONDUCTED AFTER APPROVAL OF THE BUDGET FOR NEW FINANCIAL YEAR
It is supposed to conduct the three-dimensional seismic exploration on the northern, central and coastal blocks of the contract area. The area of the central unit makes 143 sq. km, the coastal unit - 351 sq. km and the northern one - 113 sq.km. All works should be completed up to 2005.
We shall remind that two-dimensional seismic exploration has been conducted already on the northern unit of the contract area. "Azneftegeofisic" was the contractor of these works.
The contract on the joint exploration and development of the contract area "South-Western Gobustan" was signed on June and ratified by Milli Mejlis (the Parliament of Azerbaijan) on November 1998. The SOCAR (20%), Union Texas Petroleum (UTP- 40%) and Commonwealth Oil & Gas (40%) became its participants. However, soon the UTP left the project, because considered it nonprofitable. And Commonwealth got 40% of sharing of this company. However, the company was not able to finance 80% sharing in the project and transferred 62,83% of its sharing to two Chinese companies - Smart Asses and CNOPC.
The contract area of the "South-Western Gobustan" consists of 3 blocks with the total square of 604 sq. km. The fields "Shikhzakirli", "Sheytanud", "Vorkyut", "Donuzlug", "Nardaran", "Ilkhichi", "Gyarbi Gadziveli", "Sundi", "Shargi Gadziveli", "Turagay", "Kenizdag", "Gyarbi Duvanni", "Duvanni", "Solakhay" and "Dashgil", which had been developed and then left for a low gas and oil production level. 137 working wells were drilled on the field, however all they were shut down. Besides, else 250 exloring and estimate wells have been drilled.
The total of the capital expenditures for the realization of the project is estimated by $470 MM , produced supplies - 115 MM bbl of oil an 530 bn cubic feet of gas (totally, about 206 MM bbl of oil equivalent).
FOR NINE MONTHS THE OPP "AZNEFTYAG" EXPORTED THE OIL PRODUCTS BY $126.6 MM
As Media-Press has been informed in the State Oil Company of Azerbaijan, 519.091 thou tons of the diesel fuel, 103.338 thou tons of mazut, 12.355 thou tons of petrol, over 11.306 tons of bitumen and 2.2 thou tons of different oils were exported.
On September the OPP exported 70.8241 thou tons of the oil products by a total of $12.5 MM. 57.502 thou tons of the diesel fuel, 2.497 thou tons of the bitumen, 10.4777 thou tons of mazut, 347 tons of different oils were included in this number.
ABOUT 3 BN CUBIC METERS OF THE NATURAL GAS WERE DELIVERED TO AZERBAIJAN FOR NINE MONTHS
As Media-Press has been informed in the State Oil Company of Azerbaijan, at the present time the daily gas deliveries make 10 MM cubic meters. Up to the end of the year "Itera" should deliver slightly more 1bn cubic meters of gas. Azerbaijan purchases gas by the price of $52 per 1000 cubic meters, "the blue fuel" is transported by means of the gas pipelines system Shirvanovka - Gazi-Magomed.
In the past year Azerbaijan purchased 4 bn cubic meters of gas from "Itera". In this year the import volume will remain on the previous level, in spite of agreement on gas import increasing by supplementary 1.5 signed between the JC "Azerigaz" and "Itera". The cause is in an absence of free finance means.
Up to 10 bn cubic meters of gas are required for providing the demands of the country. By forecasts, this year the gas production in Azerbaijan will make 5.04 bn cubic meters and the Azerbaijan International Company (AIOC) will produce 890 MM and the SOCAR will produce 4.15 bn cubic meters.
The Republic will receive the subsidiary gas volumes as well since after within frameworks of the enlarging of the Sangachal oil terminal the gas drying installation will be constructed. Today all oil delivered to the terminal is separated from water and gas. The produced gas is burned. However, the construction of the modern gas drying installation will allow not burning gas, but delivering it to the State Oil Company of Azerbaijan, which will deliver it to the consumers. For realization of this idea the SOCAR plans to build the special installation on gas reception and the pipeline up to the Sangachal gas distribution point; It should assist to reduce the gas export in the next future.
WASHINGTON OPPOSES TO THE REVERSE OF THE OIL PIPELINE ODESSA-BRODY
The US Vice-President urgently was interested by plans of the Ukrainian Government on using of the oil pipelne Odessa-Brody. The refusal of pumping the light Caspian oil to the countries of the European Council will reduce sharply the geopolitical mean of Ukraine as the transit country, Mr. Cheyni has warned from the name of the American Government. He cofirmed that the USA will promote to realization of the providing the European direction of the pipeline.
In answer Mr. Yanukovich complained that there is not real oil for filling up the Ukrainian pipeline: the Western companies only declare and the Russian TNK-BP promises to provide and oil on conditions of reverse. Cheyni promised to assist in the contacts with the western oil companies. This declaration looks as the economical award to Kiev for the political decision on sending the Ukrainian peacemaker contingent to Iraq, which assists to the occupation coalition led by the USA.
The first Deputy Foreign Minister of Ukraine Mr. Vladimir Elchenko has emphasized that the American side had initiated the discussion of the problems of the oil pipeline. By the words of the Ukrainian official, Cheyni considers the using of the oil pipeline in the reverse direction is "unperceptive". "During negotiations the Vice-President of the USA expressed the opinion, and it was the position of the American Government - that a choice on behalf of a reverse will reduce chances of Ukraine as a main country, for transit of the energy carriers to the Western Europe. Mr. Cheyni promised that he will be engaged in this issue", - Mr. Elchenko has told.
As well the Vice-President of the USA promised also the soonest consideration of the issue on recognition Ukraine as a market economy country and the support to entering the World Trade Organization. Though some white spots in the Ukrainian laws trouble the American side, the Kiev authorities account to remove this lack up to the end of the year and since the next year start the concrete work on signing the protocol on the WTO with the USA, "Vremy novostey" notes.
The day before Kazakhstan promised the support in the operation of the oil pipeline Odessa-Brody. By the promise of the director of the Oil Industry Department of the Ministry of the Energy and Mineral Resources of Kazakhstan Mr. Musabek Isayev, at the present time the CJC "NC "KazMunayGaz" and CJC "KazTransOil" work at this project. The negotiations with the foreign consortiums and local companies engaged in oil production in Kazakhstan are conducted. However, it is difficult to tell about volumes, which Kazakhstan will provide to this oil pipeline; all depends on, how much the oil companies should want to transport by the route Odessa-Brody", - Mr. Isayev has said.
Kiev should be quiet after this statement, however... The point is that on October 3 the observer Council of "Ukrtransneft" has approved already receiving the credit from TNK-BP in a total of 450 thou of oil for filling up the pipeline Odessa-Brody. It was noted that the credit conditions satisfy Ukraine entirely. And this means automatically that the reverse using of the oil pipeline is supposed as the suggestion TNK-BP supposes renting the piece of the oil pipeline Avgustovka-Brody for 20 years by the company and by confirmation of the newspaper "Commersant" bases on that the major part of the pipeline will not operate. Moreover, the relevant agreement has not been signed still.
It is interesting, how Kiev will find outlet from situation, moreover, as the Deputy Foreign Minister of Ukraine on the issues of the European Integration Mr. Alexander Chali, the government will decide on using the oil pipeline "Odessa-Brody" in the end of November - beginning of December, 2003. The tender on selection of the company-estimator of the reverse using the oil pipeline "Odessa-Brody" will be over on October 13, 2003.
Basing on that was declared to the Ukrainian Premier in Washington, it may be supposed that results of the tender are known already - Kiev will not agree with the reverse of pipeline Odessa-Brody. "The Government of Ukraine firstly should accept the economical decision, but not the political", - the President of Ukraine Mr. Leonid Kuchma has declared on the days before, and appealed to the government to count.
As Media-Press has informed, Kuchma analyzed the using of the oil pipeline "Odessa - Brody for deliveries of the Caspian oil up to the terminal in Odessa up to the frontier with Poland and appealed to the government: "Is there any company operating in the Central Asia or the Caspian shelf, which has expressed its intension of oil deliveries? And where is a purchaser of this oil?" "And who will provide guarantees of filling up this pipe for $100? - the President of Ukraine has asked in complement.
Mr. L. Kuchma should be able to ask else one question, moreover, it is rather rhetoric now - "What have those, who has offered and then developed the idea of this pipeline thought about at all?" But the situation formed is the economical nonsense. The oil pipeline, for construction of which hundred million dollars were spent stops since 2001 for a cause, which is not even banal - its constructors have not troubled on crude materials for the technological filling up of the pipeline as well oil pumping.
So by the words of the Deputy of the Foreign Minister of the RF Mr. V. Kalyuzni "the oil pipeline Odessa-Brody, constructed thoughtlessly is without perspectives, directed to nowhere".
IN THE BEGINNING OF 2004 THE OPEC WILL START ELSE ONE REDUCTION OF OIL DELIVERIES, THE ANALYSTS OF THE MINISTRY OF THE ENERGY OF THE USA CONSIDER.
By common opinion, in spite of the declaration of the Minister of Oil of Iraq Mr. Ibragim Bakhr al -Ulumj that his country will produced about 2.8 MM bbl of oil, even the officials in Washington do not believe that in the near future the export from Iraq will be significant and affect on the oil rates.
These fears are complicated by that the OPEC is able to reduce again the oil production and export even earlier than December 4, when the out-of-turn summit meeting of the Oil Ministers of the Cartel will be held, moreover Venezuela already has expressed similar requrement.
The Government of Venezuela has appealed to the Secretariat of the OPEC with offer on including the question of the changing of the price corridor of the oil "basket" of the OPEC from the present $22 - $28 for the barrel up to $25 - $32 for the barrel.
By the declaration of the President of the country Mr. Ugo Chaves, the protection of the prices for oil from fall on December 2003 will depend as well from the program of oil production reduction in the unassociated countries.
As the analyst of Petroleum Finance Company notes, Venezuela is interested in the growth of prices, as correction of prices for oil is more easy than its production. Venezuela still has not been able to improve situation in the country since the oil workers strike. Before the strike an average oil production in the country made 3.1 MM bbl per a day and 2.7 MM bbl of them were exported mainly to the USA. The quota of the OPEC, which enters into force on November 1, makes 2.819 MM barrels of oil per a day.
Meanwhile prices for oil have grown already after the last quotas reduction of the OPEC. So on October 7 after the tender completion on the International Petroleum Exchange (London) the prices for the November futures for oil mark Brent made $29.03 (+$0.14) for the barrel. On the New York Mecrchritile :Exchange (New-York), prices for oil of the sort Light Sweet Crude made $30.41 ( -$0.06) for abarrel.
