Khoshbakht Yusifzada: Azerbaijan received 60% of produced oil as 'profit'

The Azeri-Chirag-Gunashli (ACG) oil and gas field located in the Azerbaijani sector of the Caspian Sea produced a total of 570 million tons of oil and 205 bn cu m of natural gas.

Gas price has decreased in Europe

Following yesterday's trading, the price of gas in Europe approached $543 per 1,000 cu m.

French company to produce gas in Azerbaijan

France’s TotalEnergies confirmed the start of gas production at the Absheron field in the Azerbaijani sector of the Caspian Sea in 2023, hoping to increase production of hydrocarbons in 2023, including through the launch of this project.

New general director appointed to Socar Türkiye

SOCAR may create LNG terminal in Pakistan

A liquefied natural gas (LNG) terminal may be created in Pakistan with the participation of the State Oil Company of Azerbaijan

Oil keeps on falling in price, and Brent is at $82.85 a barrel

Prices for oil of benchmark grades continue to decline in Wednesday’s trading after falling following the previous session.

GDP in oil and gas sector grew by more than 95%

The State Statistics Committee has published statistics on some indicators of January 2023.

MP: We’ve signed agreements with 4 countries in field of energy

Investments in oil and gas sector of Azerbaijan decreased

Electricity consumers’ rights increase

The number of rights of electricity consumers is increasing.

Azerishig not to sell electricity

In the future, the authority to sell electricity will be removed from Azerishig.

Azerbaijan plans to increase share of renewable to 30% by 2030

The Azerbaijani government aims to increase the share of renewables in total electricity production to 30% by 2030.

Russia earns billions of dollars on oil, despite Western sanctions

Despite Western sanctions, Russia earns billions of dollars from fuel sales. The withdrawal of the British energy giants Shell and BP from the market did not become an obstacle either.

Oil price falls, and Brent is at $83.08 per barrel

Prices for oil of benchmark grades are declining in Tuesday’s trading after rising following the previous session.

A new gas station put into operation in Lachin

SOCAR Petroleum CJSC has commissioned a gas station in the city of Lachin

Cost of oil grows, and Brent is at $83.36 a barrel

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

Oil supplies via Baku-Supsa pipeline to resume

BP will resume oil shipments from the Georgian port of Supsa on the Black Sea.

Shah Deniz gas extraction to be cheaper

Gas production from Shah Deniz will be cheaper.

Oil gets cheaper, and Brent is at $84.27 per barrel

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

Oil price rises, and Brent is at $85.88 a barrel

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

Which country buys the most oil from Azerbaijan?

Azerbaijan exported 848,983.07 tons of oil to Italy for $538.3 million this January. Thus, Italy took the 1st place in Azerbaijan's total oil exports.