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Category: Azerbaijan

Azerbaijan Increased Oil Production by 5.5% in August

Oil production in Azerbaijan in August 2020 amounted to 584.6 thousand b / d against the July figure of 554.1 thousand b / d. According…

Azerbaijan Supplied Oil to Belarus below Market Prices

The cost of oil imports to Belarus in January-June 2020 amounted to $ 1.24 billion, which is 61.9% less than in January-June 2019, according to…

Government Calculated State Budget Revenues for 2021 Based on Negative Scenario

The government of Azerbaijan calculated state budget revenues for 2021 based on the average export oil price of $ 35 per barrel. This was reported…

BP Releases New Data on SWAP Exploration Project

BP has published a draft document on environmental and social impact assessment within the framework of the project for the development of shallow waters of…

39% of Azerbaijan’s Export Oil Went to Italy in H1, 2020

Azerbaijan in the first half of 2020 exported 5 million 959 thousand 479.7 tons of oil to Italy, which is 5.2% higher than the same…

Azerbaijan Leader in Gas Supplies to Turkey for Fourth Month in Row

Azerbaijan exported 5 billion 444.99 million cubic meters of gas to Turkey in January-June 2020, which is 23.5% higher than the same period last year….

SOCAR Sends another Shipment of Oil to Belarus

SOCAR (State Oil Company of Azerbaijan) plans to send a new batch of Azerbaijani oil to Belarus on August 26-27. “Several weeks ago, the sale…

Azerbaijan’s President Calls For Privatization Of State Oil Company SOCAR: A Hope For Petrostates?

Like other commodity export dependent nations around the world, Azerbaijan has seen its economy suffer from the lockdown effects of the global coronavirus pandemic, particularly…

Long Way to Modernize Baku Refinery

The State Oil Company of Azerbaijan plans to start production of automotive fuel in accordance with Euro-5 standards at the Baku refinery in 2022, SOCAR…

Only 20% of Produced Associated Gas from ACG Converted into Marketable Gas in 2020

172 bcm of associated gas were produced from the Azeri-Chirag-Gunashli (ACG) oil block from the start of development until August 1, 2020. This was announced…

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