Commercial oil reserves in U.S. drop to 445.1 million barrels

Last week, commercial oil reserves in the United States decreased by 3.44 million barrels to 445.1 million barrels, ABC.AZ reports, referring to the U.S. Department of Energy.

Oil prices goes up, and Brent is at $85.79 a barrel

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

Population spent 1.6 billion manats on gasoline and diesel

The consumers in Azerbaijan purchased gasoline and diesel for totally 1.557 billion manats for Jan-Jun 2024 (5.9% more against Jan-Jun 2023).

Share of ‘green energy’ in energy production in Nakhchivan grew up to 13.5%

The share of "green energy" in energy production in the Nakhchivan Autonomous Republic has reached 13.5%.

Bulgargaz files a lawsuit against Gazprom for 400 million euros

Bulgarian state-owned gas company Bulgargaz has filed a lawsuit for 400 million euros against Gazprom in the International Arbitration Court at the International Chamber of Commerce in Paris.

Oil price continues decline in price, and Brent is at $84.40 a barrel

Prices for oil of benchmark grades kept on declining in Wednesday’s trading.

Moody's has improved its outlook on SOCAR's rating

Oil keeps on falling in price, and Brent is at $85.53 a barrel

Prices for oil of benchmark grades continued to decline in Tuesday's trading.

Oil price goes down, and Brent is at $86.41 a barrel

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

Cause of sharp decline in Azerbaijan's revenues from oil & gas transit become known

In 2023, revenues (transit fees) from transportation of oil and natural gas through the territory of Azerbaijan amounted to 900,000 manats.

Electric Grid Rules endorsed

The Rules on the Electric Grid have been approved in Azerbaijan.

Oil price goes up, and Brent is at $87.11 a barrel

Prices for oil of benchmark grades are decreasing in Friday’s trading.

SOFAZ received over $3 bn from ACG Project for Jan-Jun

Oil price goes down after rise the day before, Brent - $86.86 per barrel

Prices for oil of benchmark grades are declining in Thursday’s after rising the day before.

India imported a record amount of oil from Russia in June

Supplies of Russian crude oil Urals to India in June updated the maximum, reaching 1.6 million b/d, ABC.AZ informs with reference to the review of analytical company Kpler.

Oil price goes up, and Brent is at $86.67 a barrel

Prices for oil of benchmark grades are increasing in Wednesday’s trading after decline at the end of the last session.

Azerbaijan becomes the largest gas supplier to Türkiye

Azerbaijan significantly increased its natural gas exports to Türkiye in April 2024 (a rise of 12.02% versus April 2023)

BTC Co increased revenue, but net profit declined

The Baku-Tbilisi-Ceyhan oil pipeline company (BTC Co.) completed 2023 with net profit of 12 million manats or $7 million. In the previous year, company's net profit amounted to 124 million manats.

Oil continues to rise in price, Brent - $86.81 per barrel

Prices for oil of benchmark grades keep on rising in Tuesday's trading.

Aramco signs contracts for over $25 bn of deals

Saudi Aramco awarded $25 billion of contracts to expand its natural gas production in line with Saudi Arabia's ambitions to have the supplies needed to meet anticipated rising demand.

SOCAR is the largest taxpayer among the companies selling oil in this country

In the 1st quarter of 2024, SOCAR Ukraine, the subsidiary of the Azerbaijan State Oil Company (SOCAR) in Ukraine, became the highest paid fuel sales company.