Companies with the largest oil reserves – List

The oil reserves of Saudi Arabian oil company Saudi Aramco are 4.5-fold higher than the reserves of 5 other large oil companies.

Oil price goes up, and Brent is at $86.85 a barrel

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

SOCAR's revenues in Switzerland and Türkiye fell sharply

It became known in which segments and countries SOCAR received 85.2 bn of income in 2023.

SOCAR functionaries earn 1.699 million manats a year

During 2023, the State Oil Company of Azerbaijan (SOCAR) paid 1.699 million manats to the general management. At the time of submission of the report, the general administration included the SOCAR president and his 10 vice presidents

Bulgaria approves participation in green energy corridor Azerbaijan-Georgia-Europe

The Bulgarian Council of Ministers has endorsed country's participation in a joint venture to implement a project to create a green energy corridor Azerbaijan-Georgia-Europe, which will pass through the Black Sea

SOCAR records growth on earnings in this country

SOCAR's financial indicators published

The State Oil Company of Azerbaijan (SOCAR) has completed 2023 with satisfactory results, despite the weakening of global economic activity, geopolitical processes, volatility in energy markets, as well as a sharp drop in prices for crude oil and natural gas.

Economy Minister: Azerbaijan currently becomes region’s leader in field of green energy

Azerbaijan can play the role of a hub for startups. We can present very attractive investment projects. We need to attract more investments and ideas.

Oil price goes down, and Brent is at $85.07 a barrel

Prices for oil of benchmark grades are falling in Thursday trading after a slight increase in the last session.

AI-92 gasoline and diesel to rise in price in Azerbaijan

AI-92 gasoline and diesel will grow in price in Azerbaijan in the near future.

Oil transported via BTC through Türkiye in 5 months

The oil transportation through Türkiye via the Baku-Tbilisi-Ceyhan (BTC) pipeline for Jan-May 2024 totaled 91,236 barrels of oil (3.06% less than a year ago)

Oil price goes up, and Brent is at $86.12 a barrel

Prices for oil of benchmark grades are rising in Tuesday’s trading after growth the day before.

Tekfen's revenues in Georgia increased much

The revenues of SOCAR and AZFEN, a joint venture of Turkish company Tekfen, from activity in Georgia have increased dramatically.

Oil prices are stable, Brent - $85.25 per barrel

Prices for oil of benchmark grades are changing slightly in Monday’s trading after an increase following the last week.

SOCAR commences natural gas delivery to Bulgarian industrial consumers

Oil price goes down, and Brent is at $85.65 a barrel

Prices for oil of benchmark grades are slightly declining in Friday’s trading after rising following the the last session.

Data unveiled on Azerbaijan's share in gas imported in Türkiye in 2023

Natural gas imports in Türkiye decreased by 7.64% last year compared with 2022 to 50.48 bcm.

BP pioneers use of drones in its operations in Caspian Sea

BP has started to use cutting-edge drone technology to carry out tank inspections on its assets in the Caspian

Oil prices change in different directions, Brent - $85.15 per barrel

Prices for oil of benchmark grades are changing in different directions in Thursday’s trading.

Investments in oil & gas sector increased this year

Over Jan-May 2024, 2.468 bn manats were directed for the oil & gas sector.

Exports of crude oil and petroleum products lowered by 16%

Over Jan-May 2024, exports of crude oil and petroleum products from Azerbaijan declined by 16% to 9.869 million tons, ABC.AZ reports, referring to the State Customs Committee (SCC).