Volume of oil produced so far from Oil Rocks field published

Since the commissioning of field Oil Rocks until 1 May 2024, 180.2 million tons of oil have been produced here.

Forecast: 1.5 bcm of gas to be extracted from Absheron field in 2024

It is expected that 1.5 bcm of gas will be produced from Absheron field located in the Azerbaijani sector of the Caspian Sea this year.

Oil price goes up, and Brent is at $80.07 a barrel

Prices for oil of benchmark grades are rising in Friday’s trading, but end the week in the red.

SOCAR: Construction of Shafag solar power plant in Jabrayil to finish in 2025

The State Oil Company of Azerbaijan Republic (SOCAR) together with BP and Azerbaijan Investment Company expects to finish the construction project of the Shafag Solar Power Plant with capacity of 240 MW in Jabrayil district of Azerbaijan until the end of 2025.

Gas to be consumed in Europe at least until 2050 - SOCAR

Natural gas will be consumed in Europe at least until 2050.

Work is underway to decarbonize Sangachal terminal

BP is working on decarbonization at the Sangachal terminal.

Acquisition of Shah Deniz stake - A crucial step towards diversifying gas supply to Hungary

Hungarian company MVM considers the acquisition of a 5% stake in the Shah Deniz gas field development project as a significant step towards diversifying gas supplies to Hungary.

Oil price goes up, and Brent is at $78.78 per barrel

Prices for oil of benchmark grades are rising in Thursday's trading.

An Arab company to invest nearly $5 bn in Azerbaijan

Arab company Acwa Power is planning to invest about $5 bn in renewable energy projects in Azerbaijan.

BP to start producing gas at ACG from deep reservoirs

It is planned to start producing natural gas from deep layers in the Azeri-Chirag-Deepwater Gunashli (ACG) field in the Azerbaijani sector of the Caspian Sea, in early 2025.

Has Hungary bought a stake in Baku-Tbilisi-Ceyhan project?

Hungary's share in the Baku-Tbilisi-Ceyhan project is 8.9%.

Rovshan Najaf: SOCAR intends to invest in renewable energy projects

The Azerbaijan State Oil Company (SOCAR) intends to invest in renewable energy projects.

Hungary bought gas from Azerbaijan for the first time this year

Hungary continues to diversify supplies in order to reduce dependence on Russian gas.

Our annual gas supplies to Europe grew almost up to 12 bcm in 3 years - Parviz Shahbazov

After 30 years, our goal remains the same – to ensure energy security and sustainable development in the region and beyond, ABC.AZ reports, quoting Azerbaijani Energy Minister Parviz Shahbazov as saying this during his speech at the Baku Energy Forum.

Foundation of two more solar power plants to be laid in Eastern Zangezur

By 2027, at the first stage of partnership with energy companies, Azerbaijan plans to implement new renewable energy projects with volume of about 2 gigawatts, which will increase the share of renewable energy in country's installed capacity to 33%.

Minister: Talks about increase of Azerbaijani gas exports to Europe go not so well

Negotiations on increasing the export of natural gas from Azerbaijan to Europe are not going so well.

In 2023, net profit of Bakı Neft Maşınqayırma Zavodu increased by 31%

Bakı Neft Maşınqayırma Zavodu LLC received 560,000 manats of net profit in 2023, exceeding the result of 2022 by 31%. In 2022, the company received net profit of 427,000 manats.

New solar and wind power plants to reduce use of gas

The commissioning of two solar and one wind power plants, the foundation of which was laid yesterday, will diminish emissions into the atmosphere and the volume of gas used in electricity generation.

Oil is slightly cheaper, and Brent is at $77.47 a barrel

Prices for oil of benchmark grades are slightly declining in Wednesday's trading.

Project of three power plants to prevent almost 1 million tons of emissions a year

A joint project with Masdar on construction of three power plants in Azerbaijan will help prevent about 1 million tons of carbon emissions per year.

Azerbaijan to start producing Euro-5 gasoline

The Heydar Aliyev Baku Oil Refinery, operated by Azerbaijan's state oil company SOCAR, is gearing up to start producing gasoline compliant with the eco-friendly Euro-5 standards this June