Latest news with #Tengizchevroil
Yahoo
4 days ago
- Business
- Yahoo
SandCo Sets New Quartz Sand Production Record with 15,000 Tons in 2024, Eyes Further Expansion into China Market and Critical Minerals
SandCo Sets New Quartz Sand Production Record with 15,000 Tons in 2024 LONDON and ASTANA, Kazakhstan, June 05, 2025 (GLOBE NEWSWIRE) -- SandCo, Central Asia's top-tier supplier of premium quartz sand, reported an unprecedented production total of 15,000 tons for 2024 due to an initial $10 million investment in extended production facilities. SandCo operates a fully integrated quartz sand production cycle, including mining, refining, and distribution. It outputs silica with over 98% purity, and the company is working to increase its purity through constant investment in R&D. Quartz sand is used in semiconductor fabrication, high-rise construction, and advanced filtration technologies for oil and gas applications. "Our record production in 2024 is just a first step in our rehaul. We are working to accelerate our international commercial and logistic capabilities," said CEO Sanzhar Zhumanalin. "Our goal for 2025 is to push production levels up to 25,000 tons and start expansion into China and the Middle East, where top-class quartz sand is becoming an edge in important industries linked to the digital economy," he stated. During 2024, SandCo supplied quartz sand for projects such as Tengizchevroil's hydraulic fracturing operations, the Kazakhstan Football Federation's development of 20 youth football fields, and municipal water filtration projects in different locations in Central Asia. Global market demand for premium quartz sand has risen in recent years, driven by robust growth in semiconductor manufacturing. The industrial quartz sand market is projected to grow at a yearly rate of 5.5% from 2026 to 2033, while the frac sand market, essential for extracting oil and gas, is expected to expand by USD 4.50 billion between 2024 and 2028, according to industry sources. Last year, the company developed a new rail spur to connect its Kariernoe quartz deposit to international trade routes, and specifically with China and Caspian Sea ports. The company considers that the One Belt One road initiative between China and Europe will make Kariernoe an important element in future international trade routes. Founded in 1999, SandCo is part of Kazakhstan's Namys Group. Over its 25-year operational history, SandCo has grown in infrastructure development and R&D investment. Current production facilities include Hitachi and Volvo technologies, with whom SandCo maintains long standing working relations. The company is committed to ensuring premium purity and exact particle dimensions ranging from 0.1 mm to 15 mm, which is in line with international industry standards. For the 2025-2030 period, SandCo plans to enhance its cleantech position, invest in integrating renewable energy, including solar power, and reduce its carbon footprint. Further planned investments include the adoption of automated packaging and digital quality-control systems. Additionally, SandCo is advancing recycling initiatives for spent proppants, specialized quartz sands utilized extensively in oil and gas extraction processes—to promote sustainability and support circular economy practices. The company's plans include becoming a major partner of critical materials production in the next 24 months. SandCo employs more than 200 specialists with long-term licenses. For more information: media@ DISCLAIMERThis press release contains statements regarding the future of the company and its innovations. Statements regarding the future may be accompanied by words such as "anticipate", "believe", "estimate", "wait", "pretend", "power", "plan", "potential", the use of future time and other terms of similar meaning. No undue reliance should be placed on these claims. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements, including uncertainty of the company's commercial success, ability to protect our intellectual property rights, and other risks. These statements are based on current beliefs and forecasts and refer only to the date of this press release. The company assumes no obligation to publicly update its forward-looking statements, regardless of whether new information, future events or any other circumstance arise. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or in any other jurisdiction where such offer or sale would be unlawful. A photo accompanying this announcement is available at in to access your portfolio
Business Recorder
6 days ago
- Business
- Business Recorder
Kazakhstan's daily oil output falls 4pc in May on lower Tengiz production
MOSCOW: Kazakhstan's oil production fell 4% in May from April due to lower production from the Tengiz oilfield, but remained above the OPEC+ quota, according to an industry source familiar with the statistics, and Reuters calculations. Kazakhstan, a top-10 oil producer, has persistently exceeded quotas set by OPEC+, an alliance between the Organization of the Petroleum Exporting Countries and other producers led by Russia. Kazakhstan officials said the state had informed the group that it had no plans to cut back its output. Kazakhstan produced 1.748 million bpd of oil in May, according to the source. The country's OPEC+ quota for May is 1.486 million bpd. Oil output in Kazakhstan fell in May as Chevron-led Tengizchevroil cut output on the giant Tengiz oilfield to 813,200 bpd from 885,000 bpd. Kazakhstan's energy ministry and Tengizchevroil did not reply to requests for comment.
Russia Today
15-05-2025
- Business
- Russia Today
US lifts sanctions on Russia-linked international oil project
The US government has allowed American and international companies to resume oil-related work involving a major Russia-linked project to deliver Caspian oil to the global market. The license, lifting restrictions on the Caspian Pipeline Consortium (CPC) and the Kazakh company Tengizchevroil (TCO), was issued by the Treasury Department on Thursday. The CPC includes major US oil companies such as Chevron and ExxonMobil among its stakeholders and primarily facilitates the export of Kazakh oil through Russian territory and its shipment internationally. The new General License No. 124 permits all transactions that were blocked under a January 10 decision which prohibited certain petroleum services involving Russia-related energy infrastructure. CPC operates a major pipeline that transports oil from western Kazakhstan to the Black Sea coast of Russia, from where it is shipped globally by tanker. The 1,511-kilometer pipeline is one of the most important export routes for Kazakh oil, handling over 80% of the country's crude exports. The pipeline is jointly owned by multiple companies and governments. Russia holds a 24% stake through the state-owned operator Transneft. Other major shareholders include Chevron, ExxonMobil, Russia's Lukoil and Kazakhstan's national oil company KazMunayGas. Several smaller international firms also own shares. Tengizchevroil is a joint venture that runs the massive Tengiz oil field in Kazakhstan. It was formed in 1993 and is owned by Chevron (50%), ExxonMobil (25%), KazMunayGas (20%), and Lukoil (5%). The earlier sanctions were imposed under Executive Order 14071, which targets services related to Russian energy projects. However, US authorities have made exceptions for projects that are considered critical to global energy markets or involve non-Russian stakeholders. General License No. 121, issued in January, had already temporarily allowed some services for CPC and TCO. That license remains valid until June 28, 2025, but the new license appears to clarify and reaffirm that companies may continue their involvement in these projects without penalty until then. According to the Treasury, the license covers activities like drilling, refining, transportation, and marketing of oil – provided they are connected to CPC or Tengizchevroil. Earlier this year, CPC was forced to temporarily halt operations following two attacks by Ukrainian drones that damaged oil transfer stations linked to the pipeline network on Russian territory. The attacks came after Russian President Vladimir Putin and US President Donald Trump approved a partial ceasefire, under which both Moscow and Kiev committed to refraining from strikes on energy infrastructure.
Yahoo
25-03-2025
- Business
- Yahoo
An oil pumping station in Russia burned for a week after a drone strike. The company says it's affected shareholders.
A Russian oil pumping station was ablaze a week after a drone strike. The Caspian Pipeline Consortium accused Ukraine of a "terrorist" attack on it. It said oil transfer is halted and its shareholders are being impacted. An oil pumping station in Russia that was targeted by a suspected Ukrainian drone strike was still on fire a week later, with its parent company saying that the losses were hitting its shareholders. The Kavkazskaya pump station, in Russia's Krasnodar Krai, was struck in an overnight attack that began on March 18. The station is part of the Caspian Pipeline Consortium, which lists multiple oil producers among its partners, including Chevron-led Tengizchevroil. CPC said the site pumped about 1.5 million tons of crude oil in 2024. Authorities initially said that drone debris hit a pipeline, starting a 215-square-ft blaze that quickly spread. According to Russian reports, the fire expanded dramatically within a matter of days. The fire was finally extinguished on Tuesday after spreading up to 100,000 square feet, the region's governor, Veniamin Kondratiev, said. CPC accused Ukraine of a "terrorist" attack and said that, combined with an earlier strike on another pumping station, it's had a "destructive impact on the CPC financials," which will "impact all of its shareholders." The pipeline is a major oil export route for Kazakhstan, with state-owned KazMunaiGaz holding a 19% share. The Russian government, which holds 24%, is the consortium's largest shareholder. The station will not be transporting oil "in the foreseeable future," the company said. However, Sally Jones, a spokesperson for Chevron, told Business Insider in a statement that Tengizchevroil's production and export of crude oil via the CPC "remain uninterrupted." Ukraine has used strikes on Russian oil and gas infrastructure as part of its response to Russia's full-scale invasion. The latest energy infrastructure damage came amid President Donald Trump's attempts to mediate a cease-fire between Russia and Ukraine. Russian reports said that the initial fire started a chain reaction involving an explosion and an oil spill that ignited, with more than 450 firefighters deployed to tackle it. NASA's satellite-powered FIRMS fire-tracking tool appeared to show that what had been a single hot spot at the site on March 19 had expanded out to three large areas as of early Tuesday. The fire was the latest in a series of attacks on CPC facilities. The consortium said that Russian air defenses repelled an overnight drone attack on the same site on Monday. Meanwhile, on February 17, CPC said a nearby pumping station, Kropotkinskaya, was attacked "by seven UAVs loaded with explosives and shrapnel," which reduced its output. Read the original article on Business Insider
Yahoo
05-03-2025
- Business
- Yahoo
Tengiz oilfield expansion in Kazakhstan begins with new 3GP start-up
A Fluor-led joint venture has completed the Future Growth Project (FGP) at the Tengiz oilfield in Kazakhstan, marking the start of an expansion in crude oil production. This development is a result of the collaboration between Fluor, Worley, Kazakh Institute of Oil and Gas and KazGiproNefteTrans Engineering Company, which have been providing a comprehensive range of services to the Tengiz oilfield operator Tengizchevroil (TCO) since 2011. TCO is owned by Chevron (50%), KazMunayGas (20%), ExxonMobil (25%) and Lukoil (5%). The new third-generation plant (3GP) constructed at Tengiz, one of the 'largest' and 'deepest' oilfields in the world, is a key component of the FGP. The commencement of operations at 3GP is expected to lead to a gradual increase in crude oil production over the coming months. TCO's total annual crude oil output is forecast to reach approximately 40 million tonnes (mt) once all facilities are fully operational. Fluor Energy Solutions business president Mike Alexander said: 'Achieving first oil is a significant accomplishment and we congratulate the TCO team. 'Fluor has supported TCO for the past 14 years and has been active in the Republic of Kazakhstan since 1982, working on projects that have helped shape the oil and gas industry.' In January 2025, Tengizchevroil began crude oil production from the 3GP within the Tengiz oilfield. The project has not only contributed to the increase in oil production but has also focused on fostering a sustainable economic future for the local community. As part of the project, initiatives have been launched to develop local talent through training programmes at schools and universities, aimed at preparing craft labour and professional engineers. Furthermore, the project is said to have enhanced Kazakhstan's capabilities in various sectors including engineering, high-tech equipment servicing, project management, construction and fabrication. "Tengiz oilfield expansion in Kazakhstan begins with new 3GP start-up" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
