SOCAR increases oil production

In 2021, the State Oil Company of Azerbaijan produced 7.9 million tons of oil and 7.9 bn cu m of gas from fields operated independently or as the main shareholder

SOCAR gas exports grew by 40%

Expert: Country’s income increases when oil prices rise

“When oil prices rise, our country’s earnings increase. That is, State's revenues are high – the manat is stable. If there is demand for manat, the State can additionally use reserves and maintain it in stable condition."

Baku high-voltage overhead transmission lines is transferred into ground

Forecast: Oil prices to fall to $70

Oil quotes will drop to the level of $65-70 a barrel in the 2nd half of 2022 amid an increase in shale oil production in the U.S.

Price of Azeri Light oil exceeds $90 a barrel

The price of Azerbaijani oil Azeri Light on CIF delivery terms has increased by $0.72 up to $90.56 per barrel.

Oil grows in cost, and Brent is at $88.43 a barrel

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

OPEC presents a forecast on Azerbaijan

The Organization of Petroleum Exporting Countries did not change the forecast on the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2022

Oil gets more expensive, and Brent is at $87.32 a barrel

Prices for oil of standard grades are increasing in Tuesday’s trading, and Brent is traded above $87 a barrel - the highest value since October 2014

Forecast: Oil prices may rise up to $200

Oil prices will grow even more due to insufficient investments in production.

Oil grows in value, and Brent is at $86.15 a barrel

Prices for oil of standard grades are increasing in Monday’s trading after steady rise following the last week

U.S. to provide buildings with ‘green’ energy - works to be completed for $70 million

In the U.S., it is planned to create "green" windows that will be able to provide buildings with eco-friendly energy.

Azerbaijan observes a sharp rise of gas consumption

Gas consumption has increased on the territory of Azerbaijan sharply because of the deterioration of weather conditions.

SOCAR evacuates its employees from offshore platforms

Due to the sharp change in weather conditions, the work carried out in all open production areas, especially on the seabed sections, has been limited, and security measures have been strengthened

Oil drops in value, and Brent is at $84.42 a barrel

Prices for oil of standard grades are declining in Friday’s trading

An Arab company has invested in energy sector of Azerbaijan

Azerbaijan signs an agreement with Arab company on wind power in the sea

President Aliyev: Today is a very significant day in life of our country

"Today is a very significant day in the life of our country. Today, the foundation of a new wind power plant to be built in Azerbaijan is being laid in the Gulistan Palace. I cordially congratulate you and the entire Azerbaijani people on this event."

Cost of oil declines, and Brent is at $84.42 a barrel

Prices for oil of standard grades are decreasing in Thursday’s trading after significant growth following the previous sessions

New appointment at SOCAR

The State Oil Company of Azerbaijan has informed about a new appointment.

Oil price is stable, and Brent is at $83.65 a barrel

Prices for oil of standard grades are stable in Wednesday’s trading after a jump following the the previous session