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Category: Materials

Work Plan for ACG Block for 2018 to Be Approved in December

In December, the meeting of the committee on managing the Azeri-Chirag-Gunashli (ACG) field block will be held, at which the work plan and budget for…

Aliyev: Azerbaijani Gas Will Significantly Change Energy Map of Europe

Azerbaijani President Ilham Aliyev believes the gas that will be produced in the country’s fields will significantly change the energy map of the European continent….

Gazprom resuming gas deliveries to Azerbaijan

Gazprom Export and the State Oil Company of the Azerbaijan Republic (SOCAR) reached an agreement to resume natural gas supplies to Azerbaijan. A contract to that effect was signed in Moscow on November 21,…

BTK Railroad to Open New Opportunities for Export of Oil Products…

…from Azerbaijan to World Market Today, in the village of Alyat (75 km south of Baku), the opening ceremony of the Baku-Tbilisi-Kars railway (BTK) will…

Transfers from Oil Fund to State Budget to Be Reduced

The Government of Azerbaijan plans in 2019-2021 to reduce transfers from the State Oil Fund (SOFAZ) to the state budget by 28.8% – up to…

Government Assesses Risks Associated with Oil Prices

The Azerbaijani government notes the existence of a number of internal and external fiscal risks that may have a direct and indirect impact on the…

Government of Azerbaijan Forecasts Growth of Gas Production by 4.9% in 2018

Growth in gas production is expected in Azerbaijan next year for the first time since 2015. The government of Azerbaijan predicts for 2018 that gas…

Assets of State Oil Fund Increased by 0.55%

As of October 1, 2017, the assets of the State Oil Fund of Azerbaijan (SOFAZ) increased by $ 2.873 billion, or 8.7%, to $ 36.02…

Unreported Export Volumes of Azerbaijani Oil Sharply Increased

For January-September of this year, Azerbaijan exported 15,381,800 tons of crude oil. According to the State Customs Committee of Azerbaijan, during the reporting period the…

What Does Oil Mean for Azerbaijani Economy?

The revenues to the state budget for 9 months of this year exceeded the indicator of the same period of last year by AZN 1.9…

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