Azerbaijan

Ilham Aliyev expresses hope for Balkans joining SGC project
Azerbaijan Materials

Ilham Aliyev expresses hope for Balkans joining SGC project

Azerbaijan hopes that at the latest stage Croatia and other countries of the Balkans will join the Southern Gas Corridor (SGC) project, said Azerbaijan’s President Ilham Aliyev making statements for media with his Croatian counterpart Kolinda Grabar-Kitarovic in Baku Oct. 24. “Today we also discussed cooperation in the energy area, which is very promising. And we are already partners,” said […]

Azerbaijan prepares new alternative energy strategy
Azerbaijan Materials

Azerbaijan prepares new alternative energy strategy

The 7th International Forum on Energy for Sustainable Development International Conference on Renewable Energy is in Baku. Addressing the event, Chairman of the State Agency for Alternative and Renewable Energy (ABOEMDA), Akim Badalov, said that the agency will develop a new strategy of the sector development. «The current strategy focuses mainly on the governmental support for the sector development, including […]

Construction of large power unit in Azerbaijan finishes
Azerbaijan Materials

Construction of large power unit in Azerbaijan finishes

Construction of the second combined cycle power unit at the Shimal power plant in Baku has already ended, says the article of Azerbaijan’s Energy Minister Natig Aliyev, published by the official press Oct. 20. “Construction of the unit with a capacity of 409 megawatts has already ended. It will be commissioned by end of 2016,” Natig Aliyev said. The capacity […]

SOCAR commissions new well in Caspian Sea
Azerbaijan Materials

SOCAR commissions new well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce 14,600 tons of oil and 2.55 million cubic meters of gas per year thanks to commissioning of a new well in the Caspian Sea, SOCAR said in a message Oct. 19. Oil with a flow rate of 40 tons per day is extracted within the range of 3,040-3,005 meters. The well was […]

Azerbaijan produced 31.2 m tons of oil and 22 bn cm of gas in nine months of 2016
Azerbaijan Materials

Azerbaijan produced 31.2 m tons of oil and 22 bn cm of gas in nine months of 2016

Azerbaijan produced 31, 268,200 tons of crude oil (including gas condensate) and 22,051,400,000 cubic metres of natural gas in the first three quarters of 2016, according to the State Statistic Committee. The volume of marketable production of natural gas totalled to 13, 771,200,000 cubic metres, the committee said. Official figures suggest that the nine months of the year saw oil […]

SOCAR to participate in tender to buy filling stations in Turkey
Azerbaijan Materials

SOCAR to participate in tender to buy filling stations in Turkey

Azerbaijani state oil company SOCAR will participate in a tender to buy Austrian oil company OMV’s network of nearly 1,800 filling stations in Turkey, Reuters reported Oct. 18 with reference to Vagif Aliyev, the head of SOCAR’s investment department. OMV said in February it was putting Turkish fuel products distribution and lubricants subsidiary OMV Petrol Ofisi up for sale as […]

OPEC reveals Azerbaijan’s oil production forecast
Azerbaijan Materials

OPEC reveals Azerbaijan’s oil production forecast

Azerbaijan’s oil supply is anticipated to average 0.87 million barrels per day, unchanged from the previous report, indicating minor growth of 10,000 barrels in 2016, OPEC said in its monthly oil market report. Azerbaijan’s crude oil output in August decreased by 30,000 barrels per day to average 0.86 million barrels per day, said the report. Nevertheless, total oil production (crude […]

During 2015 over 5 million tons of transit oil transported via BTC
Azerbaijan Materials

During 2015 over 5 million tons of transit oil transported via BTC

During 2015 5.2 million tons of Turkmen and Kazakh oil was transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline, according SOCAR. In December 2015 316,340 tons of Turkmen and Kazakh oil was transported via BTC. Turkmen oil transportation via BTC started in July 2010, while Kazakh oil since November 2013. SOCAR Trading SA is in charge of Turkmen oil transportation to Baku […]

SOCAR: Most likely, BP also in future will remain the ACG operator
Azerbaijan Azerbaijan Materials

SOCAR: Most likely, BP also in future will remain the ACG operator

Talks on the program of future development of «Azeri-Chirag-Guneshli» (ACG) block of fields, located in the Azerbaijani sector of the Caspian Sea launched. Report informs, President of the State Oil Company of Azerbaijan Republic (SOCAR), Rovnag Abdullayev told the reporters. Mr.Abdullayev said, at present experts are working in this issue, and after the completion, the deal will be signed: «ACG […]

SOCAR, Gazprom to start gas swaps soon
Azerbaijan Azerbaijan Materials

SOCAR, Gazprom to start gas swaps soon

The State Oil Company of Azerbaijan (SOCAR) and Russia’s Gazprom company will start implementing swap transactions on Russian gas supply to Azerbaijan soon, SOCAR President Rovnag Abdullayev told reporters Sept.17. “Gazprom has an excess of natural gas and therefore we have decided to store these volumes in our gas storage facilities,” said Abdullayev. “We have held such talks with Iran […]

President Aliyev: Azerbaijan fully sure in realization of Southern Gas Corridor
Azerbaijan Azerbaijan Materials

President Aliyev: Azerbaijan fully sure in realization of Southern Gas Corridor

Azerbaijan is fully convinced that the project for the Southern Gas Corridor will get realized and thus the construction of a new gas pipeline from Azerbaijan to Europe will be ensured, said Azerbaijan’s President Ilham Aliyev. He made the remarks addressing a press conference held with the Czech Republic’s President Milos Zeman on Sept. 15. The president noted that the […]