OPEC: Oil demand to reach 110 million b/d by 2045 

Russia to cut oil exports next month

In addition to the already announced volumes of oil production cuts, Russia will reduce its supplies by 500,000 b/d, ABC.AZ reports, quoting the representative of Deputy Prime Minister Alexander Novak.

Rovshan Najaf: Azerbaijan becomes a reliable partner for many countries

By increasing the volume of energy supply and thereby, ensuring the energy security of its partners, Azerbaijan has become a reliable partner for many countries in recent years.

Oil price goes down, and Brent is at $75.28 a barrel

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

SOCAR's revenues increased by 54% in 2022

SOCAR provides data in company's consolidated financial report for 2022.

Electricity became the first in exports in five months

Electricity ($313.9 million) took the first place in the list of non-oil sector goods exported for Jan-May 2023.

Value of oil drops following this week

Prices for oil of benchmark grades decreased following the previous trading.

Oil gets cheaper, and Brent is at $73.48 a barrel

Prices for oil of benchmark grades continue falling in Friday’s trading after a drop at the end of the previous session.

SOCAR and KazMunayGas sign Memorandum

Azerbaijan has gas reserves and plans to develop them

Azerbaijan has gas reserves and plans for the introduction of those reserves on stream which will be in line with targets established under the memorandum between Azerbaijan and the EU last summer.

Oil price goes down, and Brent is at $76.72 a barrel

Prices for oil of benchmark grades are declining in Thursday’s trading after rising at the end of the previous session.

State-owned company renamed in Azerbaijan

APK Sheki Hydro-Electric Power Plant LLC, owned by Azerbaijan Industrial Corporation, has been renamed for Sheki HPP LLC, ABC.AZ reports, referring to the company.

Price of oil goes up, and Brent is at $76.30 a barrel

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

Production of petroleum products in Azerbaijan increased by 29%

In January-May 2023, oil products worth 1759.4 million manats were produced in Azerbaijan.

Cost of oil falls, and Brent is at $75.85 a barrel

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

OPEC Secretary General arrives in Azerbaijan

Haitham al-Ghais, the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), is on a visit to Azerbaijan.

Oil price goes down, and Brent is at $75.53 a barrel

Prices for oil of benchmark grades are failing in Monday’s trading after growth following the past week.

Cost of oil goes down, and Brent is at $75.46 a barrel

Prices for oil of benchmark grades are declining in Friday’s trading after a rise the day earlier.

Shell to increase transfers in favor of shareholders up to 30-40%

How much electricity generated in Azerbaijan this year?

The total volume of electricity generated in Azerbaijan reached 11.886 bn kWh

Oil price goes up, and Brent is at $74.56 a barrel

Prices for oil of benchmark grades are rising in Wednesdays trading after growth of 3.4% at the end of the previous session.