Oil price keeps on falling, Brent is traded below $50 per barrel

Prices for oil continue declining after a day earlier they ended trading at the lowest level for more than two years

OPEC states agree to cut oil production by 1.5 million barrels

At the 178th meeting of the OPEC Council of Ministers in Vienna the cartel member countries agreed to reduce oil production by 1.5 million barrels

8th OPEC+ Ministerial Meeting to be held tomorrow

The 8th meeting of the ministers of OPEC and non-OPEC countries is to be held in Vienna, and participation of Azerbaijani Energy Minister Parviz Shahbazov is expected in it

Oil rises in price after falling a day earlier

Prices for oil of standard grades are rising during the trading on Thursday after decline the day before

Useful comment about oil price by economist Samir Aliyev

The opinion that the Azerbaijani economy is immune to limiting oil below $30 per barrel reminded me of the government`s behavior in 2015

Vugar Bayramov: If spread of coronavirus increases, oil price to fall even lower

The OPEC countries will gather for a meeting in Vienna in a few days to discuss the question of oil production cuts

AZN 8.19 million financed to Azerbaijan`s Oil Company

Azerbaijani president Ilham Aliyev has signed a decree on additional measures concerning the gasification of settlements in the Agstafa, Gedabey, Shamkir and Tovuz districts of the country

Oil prices rise, Azerbaijani oil has grown by 1.6%

Prices for oil of standard grades are increasing in the course of trading on Wednesday

PROKON launched a new office in Ankara, Turkey.

PROKON launched a new office in Ankara, Turkey in February, 2020. The office is located in Sogutozu, business district of Ankara.

OPEC+ oil production expected to fall by another 750,000 barrels

Crude oil production of OPEC and non-OPEC+ cartel countries is expected to decrease by another 750,000 bpd

AZN 9 million allocated to State Oil Company

On 2 March, Azerbaijani President Ilham Aliyev signed an order on additional measures for gasification of the populated localities of the Ganja, Dashkesan, Goygol and Samukh districts

Oil prices rise, Azeri Light has grown by 3.44%

Prices for oil of standard grades continue to rise during trading on Tuesday, after their rising on Monday

An interesting forecast from experts regarding cheapening oil

Expert economist Rovshan Agayev calculated the minimum favorable oil price for the State Budget and the balance of payments in 2020.

Some types of fuel are exempt from customs duties – Cabinet`s decision

Fuel TC-1 for jet engines is exempt from import customs duties

President Ilham Aliyev: Daily production from Umid field is 3 million cu m of gas

SOCAR is actively developing the Umid-Babek field

Expert: Collapse of oil price below $50 in recent days sharply increases volatility of Russian ruble

Expert economist Rovshan Agayev calculated the minimum favorable oil price for the State Budget and the balance of payments for 2020 as a result of the calculations.

President Ilham Aliyev: Next year Azerbaijan to launch gas production from Absheron field

The fact that Azerbaijan and BP signed an agreement on the extension of the contract from 2024 to 2050 shows that the potential of Azeri-Chirag-Gunashli is really great

President Ilham Aliyev: Azerbaijan is already a transit country

In 2018, we already organized the official opening of the Southern Gas Corridor in Baku - Sangachal Terminal

Oil prices fall much last week, and Azeri Light by 13.7%

Prices for oil are rising during Monday`s trading after an essential drop last week

Oil continues to get cheaper, Azeri Light fell by $2.73

The price of oil reference marks continues to fall rapidly, below the lows more than 13 months

Azerbaijani Energy Minister: Southern Gas Corridor to be ready fully in autumn 2020