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Category: Azerbaijan

Tax Deductions by SOCAR Significantly Increased in Azerbaijan’s State Budget

Tax deductions by the State Oil Company of Azerbaijan to the state budget amounted to 128 million 187 thousand manat in January 2017, which is…

Asia Infrastructure Investment Bank signs loan allocation for TANAP

The Government of Azerbaijan, “Southern Gas Corridor” (SGC) CJSC and Asia Infrastructure Investment Bank (AIIB) have signed a contract on a loan allocation to support…

Azerbaijan Produced 445 Million Tons of Oil over Ten Years

According to statistics, over the past ten years Azerbaijan has produced almost 445 million tons of oil. In Azerbaijan, in 2007-2016, 444.9 million tons of…

The French Almost Found Lender for Gas Project Absheron

The European Investment Bank (EIB) is interested in the project to develop a large gas condensate field Absheron in the Caspian Sea, said General Vice…

Oil Fund in January sold through auctions $ 285 million

The State Oil Fund of Azerbaijan (SOFAZ) in January 2017 sold foreign currency totalling $ 285 million from foreign exchange auctions, according to SOFAZ. “In…

Despite Decline in Oil Shipment Volumes via Ceyhan, SOCAR Increased Its Revenue by 58%

SOCAR shipped 1 million 398.44 thousand tons of Azeri oil via Ceyhan, Turkey in January 2017, the press service of SOCAR reported. In January 2016…

SOCAR Plans to Annually Produce 300 Mcm of Gas from New Bulla Deniz Well

SOCAR will produce about 300 mcm of gas and about 55 thousand tons of condensate per year due to commissioning a new well that is…

SOCAR to Drill Ten Production Wells on Oil Rocks

SOCAR will produce 73 thousand tons of oil and 16.5 mcm of gas annually by drilling 10 new production wells at the old Caspian offshore…

Azerbaijan Begins to Consume Less Gasoline

Oil production in Azerbaijan in 2016 decreased compared to 2015 by 9.1% to 2 billion 772.7 million manat. This is evidenced by the State Statistics…

AZERBAIJAN EYES MORE GAS, LESS OIL IN 2017: MINISTER

Azerbaijan is planning to produce more gas and less oil this year, energy minister Natiq Aliyev has toldNGW. The country plans to increase gross gas…

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