Azerbaijani President: We plan to expand our pipeline capacity

Some countries already start to receive electricity from Azerbaijan and, of course, natural gas starting something more than two years ago.

Ilham Aliyev: We supply many European countries with oil, oil products, petrochemicals

Azerbaijan was named recently, a year ago, less than a year ago, as a reliable partner in the energy sector for Europe by President of the European Commission Madamme Ursula von der Leyen.

President Ilham Aliyev: We already have pretty diversified geography of our gas supply

After the beginning of Russian-Ukrainian war, we got requests from more than 10 European countries with respect to gas supply or increase of existing gas supply.

Cost of oil drops, and Brent is at $79.84 a barrel

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

Fitch updated oil price forecast

International rating agency Fitch has updated its forecasts regarding the oil price.

Oil price grows, and Brent is at $83.11 a barrel

Prices for oil of benchmark grades are increasing in Monday’s trading after decline following past week.

Liberated territories to be gasified

The State Oil Company of Azerbaijan (SOCAR) is working on four gasification projects in the liberated territories.

Population began to use green energy in Agali village

The priority tasks in the occupation-liberated districts are the construction, first of all, of social infrastructure. The energy supply of the region is the basis of its development.

Cost of oil drops, and Brent is at $81.11 a barrel

Prices for oil of benchmark grades continue falling in Friday’s trading after the decline the day before.

Gas prices in Europe drop 8-fold

A year has passed since the registration of the historical highest gas price in Europe. Over the year, the price has fallen more than 8 times.

Ilham Aliyev: Joint projects enabled Bulgaria to evolve into transit country for Azerbaijani gas

The energy sector is one of the areas of current cooperation.

China reduced oil and gas imports in 2023

Cost of oil grows, and Brent is at $86.41 per barrel

Prices for oil of benchmark grades are increasing in Tuesday's auction.

SOCAR commissions a new gas station in Novkhani

A new filling station (gas station) under SOCAR brand has been put into operation.

Gas gets cheaper in Europe

At today's auction, the price of gas in Europe dropped below $500 per 1,000 cu m.

Cost of oil goes down, and Brent is at $85.03 a barrel

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

SOFAZ's revenues from Shah Deniz grew 2.4-fold this year

Over the past 2 months SOFAZ revenues from Shah Deniz gas condensate field (sale of gas and condensate) amounted to $534.751 million

SOFAZ's income from ACG grew by 1.3% in 2023

The revenues of the State Oil Fund of Azerbaijan (SOFAZ) from oilfield block Azeri-Chirag-Guneshli (ACG) for Jan-Feb 2023 (01.01.2023-01.03.2023) amounted to $1.324 bn

Oil gets cheaper, and Brent is at $84.58 a barrel

Prices for oil of benchmark grades are falling in Friday’s trading, but may end the week with an increase.

Azerbaijani company in Turkiye increased sales

Turkish petrochemical complex Petkim (the main share belongs to SOCAR) completed last year with net profit of 6.545 bn Turkish liras.

SOCAR and IDB discuss cooperation in field of renewable energy and digitalization

The Azerbaijan State Oil Company (SOCAR) and the Islamic Development Bank (IDB) discussed prospects for possible cooperation in the field of oil, gas, renewable energy sources (RES) and digitalization.