Gas gets cheaper in Europe

At today's auction, the price of gas in Europe dropped below $500 per 1,000 cu m.

Cost of oil goes down, and Brent is at $85.03 a barrel

Prices for oil of benchmark grades are falling in Monday’s trading after rising last week.

SOFAZ's revenues from Shah Deniz grew 2.4-fold this year

Over the past 2 months SOFAZ revenues from Shah Deniz gas condensate field (sale of gas and condensate) amounted to $534.751 million

SOFAZ's income from ACG grew by 1.3% in 2023

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from oilfield block Azeri-Chirag-Guneshli (ACG) for Jan-Feb 2023 (01.01.2023-01.03.2023) amounted to $1.324 bn

Oil gets cheaper, and Brent is at $84.58 a barrel

Prices for oil of benchmark grades are falling in Friday’s trading, but may end the week with an increase.

Azerbaijani company in Turkiye increased sales

Turkish petrochemical complex Petkim (the main share belongs to SOCAR) completed last year with net profit of 6.545 bn Turkish liras.

SOCAR and IDB discuss cooperation in field of renewable energy and digitalization

The Azerbaijan State Oil Company (SOCAR) and the Islamic Development Bank (IDB) discussed prospects for possible cooperation in the field of oil, gas, renewable energy sources (RES) and digitalization.

Uzbekistan prepares a large project with SOCAR in oil & gas field

Uzbekistan is preparing a large project in the oil and gas field with SOCAR.

Oil grows in cost, and Brent is at $84.42 a barrel

Prices for oil of benchmark grades are rising in Thursday's trading.

Cost of oil grows, and Brent is at $83.93 a barrel

Prices for oil of benchmark grades are increasing in Wednesday’s trading.

Cost of oil increases, and Brent is at $82.21 a barrel

Prices for oil of benchmark grades are rising in Tuesday's trading

Azerbaijan to export 1,000 MW of electricity annually to Europe via Turkiye in the future

Oil rises in price, and Brent is at $82.36 a barrel

Prices for oil of benchmark grades are declining in Monday’s trading.

Oil price grows, and Brent is at $82.91 a barrel

Prices for oil of benchmark grades are rising in Friday’s trading after rising by 2% the day before.

Azerbaijan imported 1 bn cu m of gas for 2022

Azerbaijan’s gas imports totaled 1.16 bn cu m in 2022 (2-fold more versus 2021) for $130.634 million

Sahib Alakbarov: Negotiations with BP on construction of Jabrail SPP come to end

Negotiations with the bp company regarding the construction of a 240 MW solar power plant (SPP) in Jabrayil are nearing completion.

Cost of oil grows and Brent is at $80.97 a barrel

Prices for oil of benchmark grades are rising in Thursday’s trading after a serious drop the day before.

India not to be able to buy Russian oil

India's state-owned oil refinery Hindustan Petroleum cannot buy Russian oil because banks refuse to accept payments for fear of secondary sanctions.

Khoshbakht Yusifzada: Azerbaijan received 60% of produced oil as 'profit'

The Azeri-Chirag-Gunashli (ACG) oil and gas field located in the Azerbaijani sector of the Caspian Sea produced a total of 570 million tons of oil and 205 bn cu m of natural gas.

Gas price has decreased in Europe

Following yesterday's trading, the price of gas in Europe approached $543 per 1,000 cu m.

French company to produce gas in Azerbaijan

France’s TotalEnergies confirmed the start of gas production at the Absheron field in the Azerbaijani sector of the Caspian Sea in 2023, hoping to increase production of hydrocarbons in 2023, including through the launch of this project.