Technical operatorship of South Caucasus Pipeline transferred to SOCAR

Oil prices decline after rising the day before

Oil of standard grades declines in price in Thursday’s auction after a rise in prices the day before

SOFAZ’s revenue from profit oil sale exceeds $2 bn for Jan-May 2020

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from oilfield block Azeri-Chirag-Guneshli (ACG) and condensate from the Shah Deniz field for Jan-May 2020 exceeded $2 bn.

President took part in opening of a new substation

The 110/35/6-KV substation `Terter` has been put into operation today after reconstruction

Oil prices rise, Brent passes $40 a barrel

Oil prices are rising on Wednesday, with the price of Brent crude exceeding the level of $40 a barrel for the first time almost for three months on the news that the OPEC+ countries may agree to extend production restrictions.

$438 million spent on Shah Deniz activities for 1st quarter

Maximum production of Shah Deniz rigs announced – over 20 bn cu m a year

It has been extracted 121 bn cu m of natural gas at the Shah Deniz gas condensate field in the Azerbaijani sector of the Caspian Sea to date

Azerbaijan ranks 5th in BP rating

Azerbaijan`s net share of natural gas production in various parts of the world is 5%

BP has drawn 11 rigs for operations

Last year, BP engaged 9 drilling rigs in offshore operations for oil and gas projects in Azerbaijan, including 2 mobile drilling rigs

ACG costs exceed $0.5 bn for 3 months

BP has released a report on Azerbaijan`s sustainable development for 2019

4 more wells drilled at ACG field for 3 months

Oil production from Azeri-Chirag-Guneshli in the 1st quarter of 2020 amounted to 48 million barrels, or more than 6.4 million tons

Oil prices rise, and Brent has grown up to $38.75 a barrel

Oil prices are rising in Tuesday`s trading on the news that OPEC+ may extend the current level of production cuts

IEA Executive Director: Global energy industry is going through a big shock

Oil prices fall after a month of growth, Brent drops to $37.48 a barrel

Prices for oil of standard grades are reducing in Monday`s trading after strong growth at the end of May

Azerbaijani gas has reached Europe

On 20 May gas from Azerbaijan reached the territory of Albania as part of the test works of the Trans-Adriatic Pipeline

Oil prices fall, while Brent price declines to $34 a barrel

Oil prices are falling on Friday after rising the day before up to the highest for the last 6 weeks

Oil refining from these fields has grown

Azerbaijan produced 535 million tons of oil (together with condensate) and 293 bn cu m of gas from the Azeri-Chirag-Guneshli and Shah Deniz fields in the period of commissioning until 1 May 2020

Gas exports by Azerbaijan grew more than by 13%

Over Jan-Apr 2020 Azerbaijan extracted 13.4 bn cu m of gas (by 15% or 1.8 bn cu m more versus the same term 2019)

Azerbaijan lowers oil volumes sold abroad

For the past 4 months of 2020 Azerbaijan exported abroad 10.2 million tons of oil (together with condensate)

Azerbaijan`s oil production observed a rise for Jan-Apr

Over the past 4 months of 2020 Azerbaijan produced 12.4 million tons of oil (including condensate)

Oil continues rise in price after growth the day before, and Brent grew up to $36.50 a barrel

Prices for oil of standard grades are increasing during Thursday`s trading after rising for the second week in a row