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Category: Azerbaijan

These are the most innovative countries in the world

Switzerland has once again topped the table as the world’s most innovative economy, in the latest World Economic Forum Global Competitiveness Report. It is the…

Azerbaijan keeps Azeri Light production at 2015 level

Total production at the Azeri-Chirag-Deepwater Gunashli (ACG) was on average 644,000 barrels per day (b/d) (over 176 million barrels or 24 million tons in total)…

SOCAR commissions new oil well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce over 5,470 tons of oil per year as it has put into operation a new horizontal well…

Azerbaijan to supply oil products to Burkina Faso

SOCAR Trading of Azerbaijan’s State Oil Company will supply oil products to Burkina Faso as it has agreed with that country’s state oil company SONABHY,…

Azerbaijan more than important in ensuring energy efficiency – EU

Azerbaijan is more than important in ensuring energy efficiency, Erik Somelar, Councellor for Energy at the Delegation of the European Union to Azerbaijan said. He…

Azerbaijan to increase share of renewable energy up to 20%

Azerbaijan plans to increase the share of alternative and renewable energy sources in the country’s energy balance from the current 16 percent to 20 percent…

SOCAR commissions prolific well in Caspian Sea

Azerbaijan’s state oil company SOCAR will additionally produce 102.2 million cubic meters of gas and 29,200 tons of condensate per year as it has put…

Oil Fund of the fifth month from Shah Deniz is not earning

In January-October 2016, the State Oil Fund of Azerbaijan Republic (SOFAZ) has received 64 million USD from the sale of profit oil from profitable gas…

SOFAZ earned about $4 billion from Azeri-Chirag-Guneshli

The State Oil Fund of Azerbaijan (SOFAZ) announced that from 2001 to November 1, 2016, 121,30 bln USD entered to SOFAZ from Azeri-Chirag-Guneshli (ACG) field….

Azerbaijan, Asian Development Bank discuss cooperation prospects

Azerbaijan and the Asian Development Bank (ADB) have discussed cooperation prospects as Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ)…

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