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Category: Azerbaijan

Azerbaijan’s Revenues from ACG and Shah Deniz Decrease by Two Times

Proceeds to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil and gas from the Azeri-Chirag-Gunashli (ACG) block and the Shah…

Ilham Aliyev Not Happy with Management of State-owned Companies in Azerbaijan: They Pull Our Economy Down

President of Azerbaijan Ilham Aliyev instructed the government to prepare a new management system for state-owned companies. “State-owned companies are pulling our economy down. If…

Azerbaijani President Claims Advantages of Liberal Economy

“There is another problem – the liberalization of the economy. We have to go with this. The recent discussions in this area give grounds to…

SOCAR May Take Part in Construction of Oil Pipeline in Belarus

SOCAR Construction LLC (a subsidiary of SOCAR) plans to take part in the construction project of the Gomel-Gorki main pipeline, which will connect two branches…

Government Decides to Reduce Forecast Oil Prices in Budget by 36.4%

The Azerbaijani government decided, given low oil prices, to revise the parameters of both the state budget and the budget of the State Oil Fund…

Azerbaijan Plans to Upgrade Cooling Systems of Thermal Power Plants for Economical Water Consumption

The Ministry of Energy of Azerbaijan, together with Azerenerji JSC, will prepare proposals for the efficient use of water for cooling power plants by 2021….

Government Assures Quarantine Had Almost No Effect on Fuel Consumption in Azerbaijan

Following the results of January-June 2020, fuel (gasoline and diesel fuel) was sold to consumers in Azerbaijan through the retail network for a total of…

Azerbaijan to Resume Oil Export through Russia Today

The State Oil Company of Azerbaijan plans to resume oil export via the Baku-Novorossiysk oil pipeline from July 17, 2020. SOCAR spokesman Ibrahim Ahmedov said repair…

SOCAR Petrofac JV secures payroll support and training services contract with BP Azerbaijan

Petrofac, in a joint venture (JV) with the State Oil Company of the Republic of Azerbaijan (SOCAR), has secured a contract to provide BP Azerbaijan…

Azerbaijan Delivered $ 171 Million Worth of Oil to Ukraine in H1

In January-June 2020 Ukraine increased oil imports by 2.4 times compared to the same period in 2019 – up to 773.515 thousand tons. According to…

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