SOCAR's profit for six months published

The State Oil Company (SOCAR) completed June 30, 2023 with net profit of 1.414 billion manats. SOCAR's profit for the same period of 2022 amounted to 4.624 billion manats.

Oil price goes down, and Brent is at $78.35 a barrel

Prices for oil of benchmark grades are falling in Monday’s trading.

Scientists figured out how to increase efficiency of alternative energy sources

Brazil joins OPEC+ in 2024

Brazil will join the OPEC+ alliance from January 2024.

Oil continues to fall in price, Brent - $80.66 a barrel

Prices for oil of benchmark grades are declining in Friday’s trading after a sharp drop following the session on Thursday.

Is Baku Oil Refinery closed?

SOCAR will stop operation of the Heydar Aliyev Baku Oil Refinery in 2024 in connection with the next scheduled repair.

About 55 bcm of gas pumped through TANAP by end of November

Data on Azerbaijani gas supplies via the Trans-Anatolian Gas Pipeline (TANAP) to Türkiye and Europe has been published.

Oil price goes up, and Brent is at $83.37 per barrel

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

Ion Sterian: We import gas from Azerbaijan to ensure our energy security

We import gas directly from Azerbaijan, the Caspian Sea region, to ensure our energy security.

SOCAR representative office opens in Turkmenistan

The opening of the representative office of the State Oil Company (SOCAR) in Turkmenistan took place in Ashgabat.

Cost of oil is stable, and Brent is at $81.67 a barrel

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

Volumes of oil and gas production from Chirag platform revealed

Since the commissioning of the Chirag platform, more than 104 million tons of oil and about 24 bcm of gas have been produced.

Azerbaijan increases gas supplies to Türkiye

Azerbaijan exported 7.89 bcm of natural gas to Türkiye for Jan-Sept 2023 (23.1% more versus Jan-Sept 2022).

Saudi Arabia urges OPEC+ countries to cut production

Saudi Arabia offers other OPEC+ members to reduce oil production quotas in order to support world markets.

Oil price goes up, and Brent is at $80.09 a barrel

Prices for oil of benchmark grades are increasing weakly in Tuesday’s trading after decline the day before.

SOCAR to produce oil and gas equipment in Uzbekistan

SOCAR plans to establish production of chemicals and drilling fluids in Uzbekistan.

Volume of cargo shipped by tankers has increased

Azerbaijan Caspian Shipping Company has published the data on the volume of cargo transported by its vessels for Jan-Oct 2023.

Caspian Pipeline Consortium stops transportation in Black Sea

Oil keeps on falling, and Brent is at $79.85 a barrel

Prices for oil of benchmark grades continue to drop in Monday’s trading.

Oil price keeps on falling, and Brent is at $81.27 a barrel

Prices for oil of benchmark grades continue to decline in Friday’s trading.

List of countries whose population consumes most of all electricity

The population of Iceland consumes most of all electricity.