LONDON, July 3, 2014 /PRNewswire/ -- Turkmenistan has chosen global energy and commodity news and price reporting agency Argus as an official source of energy price information. The country's exporters will now be able to use prices published by Argus in their export contracts for crude, petroleum products, LPG and petrochemicals.
Turkmen president Gurbanguly Berdymukhamedov has signed a government resolution to make Argus an officially recognised source of market pricing information. This resolution took effect from 21 June.
Turkmenistan is a major regional producer of natural gas, refined products, LPG and crude. Turkmen commodities are exported to neighbouring central Asian countries, including Afghanistan, as well as to Mediterranean markets and China.
Turkmenistan is one of many governments in the region — including Russia, Ukraine, Kazakhstan and Belarus — that officially use Argus pricing information. Uses include regulatory purposes, official selling prices, tax calculation and transfer pricing.
"Argus has been working with energy companies in Turkmenistan for 20 years. We are delighted that the government has recognised the accuracy and reliability of the independently assessed prices that we produce," Argus Media chairman and chief executive Adrian Binks said.
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About Argus Media
Argus is an independent media organisation with over 600 full time staff. It is headquartered in London and has offices in each of the world's principal commodity centres. Its main activities comprise publishing market reports containing price assessments, market commentary and news, and business intelligence reports that analyse market and industry trends.
More than half of Argus employees are commodity journalists who specialise in reporting news and price information relating to physical energy and related commodity markets. They operate according to a rigorous Editorial Code of Conduct and a compliance and ethics policy that align with best journalistic practice, including the avoidance of conflicts of interest.
Argus is a leading provider of data on prices and fundamentals, news, analysis, consultancy services and conferences for the global crude, oil products, natural gas, electricity, coal, emissions, bioenergy, fertilizer, petrochemical, metals and transportation industries. Data provided by Argus are widely used for indexation of physical trade. Companies, governments and international agencies use Argus information for analysis and planning purposes.
Argus has 19 offices globally, including London, Houston, Washington, New York, Calgary, Rio de Janeiro, Singapore, Dubai, Beijing, Tokyo, Sydney, Moscow, Astana and other key centres of the commodity industries. Argus was founded in 1970 and is a privately held UK-registered company.
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