Oil keeps on rising in price, and Brent is at $92.33 a barrel

Prices for oil of benchmark grades continue growing at Wednesday's trading after rising a day earlier.

OPEC gave a forecast on Azerbaijan

OPEC has lowered its forecast on average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2023 and increased it for 2024.

Over 622 million tons of oil extracted from ACG and Shah Deniz

Over Jan-Aug 2023, oil production with condensate in Azerbaijan reached 20.3 million tons.

Gas extraction in Azerbaijan increased by 5% for Jan-Aug

Gas production in Azerbaijan totaled 32.2 bcm for Jan-Aug 2023.

Oil production in Azerbaijan lowered by 7%

Azerbaijan produced 20.3 million tons of oil and gas condensate and exported 17 million tons of them in the past 8 months of this year.

Azerbaijan has increased gas exports

Gas exports from Azerbaijan increased by 9% for Jan-Aug 2023.

Oil price goes up, and Brent is at $91.03 a barrel

Prices for oil of benchmark grades are increasing at Tuesday's trading.

Oil price goes down, and Brent is at $90.59 a barrel

Prices for oil of benchmark grades are declining at Monday’s trading after last week’s growth.

Azerbaijan lags behind OPEC+ quota by 184,000 barrels for August

In August 2023, the average daily oil production in Azerbaijan was at the level of 500,000 barrels.

Cost of oil goes down, and Brent is at $89.39 a barrel

Prices for oil of benchmark grades are declining at Friday’s trading.

Greek company transporting Iranian oil fined

Greek shipping company Empire Navigation pleaded guilty in the case of transportation of crude oil from Iran bypassing US sanctions and agreed to pay a fine of $2.4 million

Oil price goes down, and Brent is at $90.28 a barrel

Prices for oil of benchmark grade are falling at Thursday’s trading.

SOFAZ revenues from Shah Deniz increased

The revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) from gas condensate field Shah Deniz (sale of gas and condensate) amounted to $1.183 billion for Jan-Aug 2023.

SOFAZ's revenues from ACG decreased

Cost of oil goes up, and Brent is at $90.16 a barrel

Moody's raised SOCAR's basic credit score

International rating agency Moody's Investors Service has raised the basic credit rating (BCA) of the State Oil Company of Azerbaijan (SOCAR) from ba3 to ba2.

Volume of Azerbaijani gas carried via TAP published

Azerbaijan highly appreciates IsDB’s energy projects

Azerbaijan highly appreciates IsDB’s energy projects in the domestic energy sector.

MP: Increase in oil prices affects growth of state assets of Azerbaijan

Oil gets cheaper, and Brent is at $88.89 a barrel

Prices for oil of benchmark grades are falling slightly at Tuesday’s trading.

Oil price is stable, and Brent is at $88.51 a barrel

Prices for oil of benchmark grades are changing slightly at Monday’s auction after the rise following the past week.