Drilling of a new well on Umid-1 platform launched

On 5 May SOCAR president Rovnag Abdullayev visited the Umid-1 platform on Umid field, where he inspected major repairs and reconstruction and started drilling a new well

Oil rises in price amid oil demand recovery hope, Brent is at $28 a barrel

Oil prices are rising in trading on Tuesday against the background of hopes of demand recovery, after restrictions imposed in connection with the coronavirus pandemic are lifted

Oil becomes cheaper, Brent is at $25.95 a barrel

Oil prices have declined on Monday on the news of the resumption of the U.S.-China trade war

Gasoline has fallen in price almost by 3% in Georgia

The price of gasoline in Georgia has decreased by 2.6% over the past month

Energy Minister: Main goal of oil production cuts is known

Fulfilling of the obligations within the measures taken in connection with the decline in production in Azerbaijan will increase the revenues of the State, as well as of SOCAR and other oil producing companies operating in Azerbaijan

Energy Minister: Implementation of the large agreement begins

Starting from today Azerbaijan has launched the process of oil production cuts within the framework of the OPEC+ agreement

Azerbaijan has started reducing oil production from today

Azerbaijan has started the process of cutting the oil production within the framework of the OPEC+ agreement

Oil gets more expensive, Brent is traded at $27 a barrel

Prices for oil of standard grades are rising in trading on Friday, after a jump the day before

Oil production at ACG to reduce by 76,000 barrels within 2 months

The daily production at the Azeri-Chirag-Deepwater Guneshli oilfield block will decrease by 76,000 bpd in June and May

SOCAR to reduce oil production

SOCAR is charged with measures related to the temporary restriction of oil production in Azerbaijan within the framework of OPEC+

Azerbaijan expects changes in oil production until 2022 - 3 periods

Within the framework of OPEC+ the State Oil Company of Azerbaijan will undertake measures on temporary cuts in oil production in Azerbaijan

Oil keeps on rising in price, Brent is traded at $24 a barrel

Prices for oil of standard grades continued to rise in trading on Thursday due to optimism related to the easing of quarantine in a number of countries and the recovery of energy demand

Gazprom`s profit fell by 17%

Russian natural gas monopoly Gazprom made a net profit of 1.2 trillion rubles ($16.3 billion) for 2019

Oil prices rise in Wednesday’s trading after a multi-directional movement the day before

At the same time, the market does not yet feel a noticeable decrease in the supply of raw materials from manufacturers

Oil keeps on falling rapidly, WTI is traded at $11 and Brent at $19 a barrel

Oil is becoming cheaper due to the unwillingness of investors to have contracts in the portfolio under the conditions of increasing overproduction

OPEC Conference president: Oil price may rise up to $40

We expect the price of a barrel of oil to rise up to $40 in the 2nd half of the year, stated Algerian Energy Minister and OPEC Conference president Mohamed Arkab

Oil prices drop, Brent is traded at $21 per barrel

Oil is getting cheaper because of concerns about an oversupply that could lead to the exhaustion of storage capacity and cause a new collapse of prices for futures

President took part in opening of a gas pipeline to Khizi

President Ilham Aliyev has taken part in the ceremony of opening of the social project

Oil prices grow, and Brent is traded at $22.3 per barrel

June`s WTI contracts increased by 19.7% and Brent futures by 4.7% on Thursday

Oil prices rise, Brent is traded at $22 a barrel

Prices of futures for oil continue their rise on Thursday by 10%, after growth the day before

Azerbaijan offers OPEC+ states to undertake commitments

Azerbaijan`s Energy Minister Parviz Shahbazov suggested other oil producers to undertake obligations.