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Category: Azerbaijan

Azerbaijani President Praises WB Role in Implementation of Southern Gas Corridor

Azerbaijan will complete the Southern Gas Corridor (SGC) project within a few months, which provides for the creation of pipeline infrastructure for the supply of…

Low Oil Prices, Capital Outflows Lead to Formation of Payment Balance Deficit in Azerbaijan

The Central Bank of Azerbaijan announced the balance of payments for the first quarter of 2020. After a three-year hiatus, the country’s balance of payments…

Barkindo Expresses Desire to See Azerbaijan as Member of OPEC

The world owes a lot to Azerbaijan for promoting international energy cooperation and for being at the forefront of efforts to ensure sustainable stability of…

Azerbaijani Energy Ministry announces oil production volumes for May 2020

The daily oil production in the country amounted to 557,200 barrels in May 2020, Trend reports referring to the Azerbaijani Ministry of Energy. The daily oil production…

SOCAR Becomes Technical Operator of South Caucasus Gas Pipeline

SOCAR Midstream Operations LLC has become a technical operator of the South Caucasus Gas Pipeline (SCP), BP-Azerbaijan said in a statement. “Since March 20, 2020,…

Azerbaijani oil price rises 23%

Azerbaijan’s Azeri LT CIF crude oil price traded in the financial markets has gone up $5.43 or 22.52%, settling at $29.54 per barrel. Azeri LT…

SOCAR discloses production and export volumes in 1Q2020

Azerbaijan’s State Oil Company SOCAR produced 1.9 million tons of oil and 1.8 billion cubic meters of gas on the fields operated by the company…

OPEC+ ministerial meeting postponed to April 9

The meeting of ministers of OPEC+ countries has been postponed to April 9, 2020, Advisor to the Minister of Energy of Azerbaijan Zamina Aliyeva told Trend….

SOCAR, Equinor confirm discovery of Karabagh Oil Field in Azerbaijan

SOCAR and Norway’s Equinor have confirmed a discovery of Karabagh field located 120 kilometers offshore, east of Baku, in the Azerbaijan sector of the Caspian…

Azerbaijan’s Share in Oil Imports of Ukraine Following Results of 2019 Amounted to 76%

Ukraine in 2019 increased the import of oil and crude oil by 3.1% compared to the indicator of 2018 – up to 790.628 thousand tons….

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