Process of obtaining extra equity stakes in Shah Deniz field development continues

The process of acquiring additional equity stakes of Petronas in the development of the Shah Deniz field, located in the Azerbaijani sector of the Caspian Sea, has not finished yet.

Cost of oil grows, and Brent is at $89.88 a barrel

Prices for oil are increasing in Friday’s trading after falling at the end of the previous session.

Oil falls in price, and Brent is at $89.26 a barrel

Prices for oil of standard grades are declining in Thursday’s trading after the rise by 2% at the end of the previous session

Oil falls in price, and Brent is at $87.95 a barrel

Prices for oil of standard grades are declining in Wednesday’s trading after a jump following the the previous session

Azerbaijan increases its electricity generating last December

Azerbaijan generated 2.59 bn kWh of electricity in December 2021 (8.4% more than in December 2020)

Oil grows in value, and Brent is at $86.71 a barrel

Prices for oil of standard grades are increasing in Tuesday’s trading after falling the day before

Oil gets more expensive, and Brent is at $88.73 a barrel

Prices for oil of standard grades are increasing in Monday's trading

SOCAR and Equinor discuss prospects of cooperation

President of the State Oil Company of Azerbaijan Rovnag Abdullayev held a meeting with a delegation led by Al Cook, Executive Vice President for Exploration & Production International at Equinor

Azerbaijan unveils data on gas exports to Turkey and Europe in 2021

Last year, Azerbaijan exported 8.15 bn cu m of gas to Europe

A register to be created in Azerbaijan in connection with inspection of gas installations

In Azerbaijan, the gas distributor will create a register based on the data of inspection and maintenance of gas installations

Oil gets cheaper, and Brent is at $86.94 a barrel

Prices for oil of standard grades are declining in Friday’s trading after the publication of data about an increase in energy reserves in the U.S.

SOCAR increases oil production

In 2021, the State Oil Company of Azerbaijan produced 7.9 million tons of oil and 7.9 bn cu m of gas from fields operated independently or as the main shareholder

SOCAR gas exports grew by 40%

Expert: Country’s income increases when oil prices rise

“When oil prices rise, our country’s earnings increase. That is, State's revenues are high – the manat is stable. If there is demand for manat, the State can additionally use reserves and maintain it in stable condition."

Baku high-voltage overhead transmission lines is transferred into ground

Forecast: Oil prices to fall to $70

Oil quotes will drop to the level of $65-70 a barrel in the 2nd half of 2022 amid an increase in shale oil production in the U.S.

Price of Azeri Light oil exceeds $90 a barrel

The price of Azerbaijani oil Azeri Light on CIF delivery terms has increased by $0.72 up to $90.56 per barrel.

Oil grows in cost, and Brent is at $88.43 a barrel

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

OPEC presents a forecast on Azerbaijan

The Organization of Petroleum Exporting Countries did not change the forecast on the average daily production of oil and other liquid hydrocarbons in Azerbaijan for 2022

Oil gets more expensive, and Brent is at $87.32 a barrel

Prices for oil of standard grades are increasing in Tuesday’s trading, and Brent is traded above $87 a barrel - the highest value since October 2014

Forecast: Oil prices may rise up to $200

Oil prices will grow even more due to insufficient investments in production.