OPEC+ agreement fulfilled by 103% this year

OPEC+ countries have met their commitments to reduce oil production by 103% this year

SOFAZ clarifies matter of Shah Deniz revenue reduction

Within the framework of the project of the development of Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea, there are certain agreements with various buyers.

Time of next OPEC+ meetings announced

The next, 28th meeting of the Joint Monitoring Committee of the Ministers of OPEC and some non-OPEC countries will be held on 31 March

Georgia has increased electricity volume bought from Azerbaijan

Oil price keeps on growing, and Brent is at $67.85 a barrel

Oil prices continue to rise in Friday’s trading after the OPEC+ decision

Oil grows in price, and Brent is at $64.56 a barrel

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

Data on SOFAZ's income on two fields unveiled

The State Oil Fund of Azerbaijan (SOFAZ) has released revenues on Azeri-Chirag-Guneshli (ACG) and Shah Deniz fields

Petkim exceeded forecasts – its profit has grown

The net profit of Petkim, a large partner of SOCAR, amounted to 1.07 bn Turkish liras in 2020

Oil value grows, and Brent is at $62.90 a barrel

Prices for oil of standard grades are rising in Wednesday’s trading, despite data from the American Petroleum Institute released on Tuesday night, showing an increase in U.S. inventories last week

SOCAR to cooperate with an American company

The Turkish ‘daughter’ of the State Oil Company of Azerbaijan (SOCAR), SOCAR Turkey, will work together with the American company to turn its operations into a hybrid using IBM cloud technologies

Oil falls in cost, and Brent is at $62.74 a barrel

Prices for standard grades of oil are falling in Tuesday’s trading amid the strengthening of the US dollar

Oil rises in price, and Brent is at $65.41 a barrel

The prices for oil are increasing in Monday’s trading, in anticipation of new OPEC+ decisions on the level of oil production from April 2021

Oil falls in cost, and Brent is at $66.25 a barrel

Oil prices are decreasing in Friday’s trading, ending the fourth month in a row with the rise

President approved a law in connection with Dostlug field

President Ilham Aliyev has signed a law approving the Memorandum of Understanding in connection with Dostlug field

Forecast: Cost of oil can rise up to $100

In the next few years the price of Brent crude oil may rise up to $100 per barrel

Oil grows in price, and Brent is at $67.32 a barrel

Prices for oil of standard grades are increasing in Thursday trading amid the expectations of higher fuel demand

Gas export from Shah Deniz field resumed after short downtime

Azerbaijan has resumed gas exports from Shah Deniz field after a short break.

Turkey increased its gas imports from Azerbaijan

Last December Turkey imported over 1.1 bn cu m of natural gas from Azerbaijan.

SOCAR has finished construction of a complex in Belarus

SOCAR Construction has completed constructing the heavy oil residue hydrocracking complex (H-oil) at the Mozyr Oil Refinery in Belarus

Oil falls in price, and Brent is at $64.95 a barrel

Oil prices are lowering in Wednesday’s trading amid the data of the growth of stocks in the U.S.

Export of electricity from Azerbaijan has declined

This January Azerenergy exported 8.405 million kWh of electricity for $350,000