Azerbaijan resumes oil sales to Australia

Australia bought Azerbaijani oil after a break of 15 months. This transaction took place in October 2023

Azerbaijani government aims to increase capacity of renewable energy sources to 30%

Consumers in Azerbaijan spent $2.5 bn to buy gasoline and diesel fuel

Azerbaijan received natural gas exports $12.3 bn from gas exports

Azerbaijan reports on electricity generation in 10 months

Oil price goes up, and Brent is at $80.48 a barrel

Prices for oil of benchmark grades continue falling in Thursday’s trading after a drop the day before.

Agreement signed on supply of up to 400 million cu m of Azerbaijani gas to Serbia in 2024

Strategic documents on cooperation in the energy sector have been signed between Azerbaijan and Serbia

Oil price goes up, and Brent is at $82.67 a barrel

Prices for oil of benchmark grades are increasing in Wednesday’s trading.

Azerbaijan falls behind quota within OPEC+ in October

In October 2023, the average daily crude oil production in Azerbaijan was at the level of 490,000 barrels, according to IEA monthly report.

Azerbaijan discussed transportation of electricity from Central Asian countries

Azerbaijan discussed the possibilities of transporting electricity from Uzbekistan and Kazakhstan.

Date of start of gas extraction from ACG field block deep layers unveiled

Gas production from deep reservoirs at the Azeri-Chirag-Guneshli block of fields (Azerbaijani sector of the Caspian Sea) is expected to begin at the end of 2024.

OPEC lowers forecast on Azerbaijani oil production for 2023

Oil price goes up, and Brent is at $82.87 a barrel

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

New appointment at SOCAR

The head of the Department of Human Capital Development & Functional Improvement of the State Oil Company (SOCAR) has been appointed.

Gas production and the non-oil sector partially offset the decline in oil revenues

Fitch forecasts oil at $120 in 2024

The price of oil may be at the level of $120 per barrel as early as 2024, if the Middle East conflict leads to disruption of energy supplies.

Oil price goes down, and Brent is at $80.72 a barrel

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

Oil price goes down, and Brent is at $84.77 a barrel

Prices for oil of benchmark grades are falling in Tuesday’s trading after a slight rise following the last session.

Oil price goes up, and Brent is at $85.34 a barrel

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

SOFAZ revenues from sale of profitable oil and gas from ACG lowered by 29%

A proposal made to cancel limit on natural gas

A proposal has been made to abolish the annual limit on the use of natural gas at a low tariff for gas consumers from the "population" category.