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Lukoil Reduced Oil Production by 6.8% in H1 of 2017

Lukoil reduced oil production by 6.8% in the first half of 2017 compared to the same period last year, to 43.59 million tons. According to…

Revenues of SOCAR Trading Increased by 14% in 2016

The revenues of SOCAR Trading SA (the “daughter” of SOCAR) in 2016 amounted to $ 25.9 billion, which is 14.1% higher than in 2015, the…

Work on Building TAP in Sea to Start in 2018

The work on the construction of the Trans Adriatic Pipeline (TAP) in the sea is scheduled to begin in 2018 and will continue for few…

Transportation of Goods through Georgia Decreases in 2017

Sea ports and terminals of Georgia processed 8.3 million tons of cargo in January-June of 2017, which is 1.2% less than in the first half…

SOCAR Invests $12.6 Bn in Turkish Projects So Far

The main goal of the State Oil Company of Azerbaijan by the 100th anniversary of the Turkish Republic is to transform these territories into one…

World Gas Production and Demand will Go Shoulder to Shoulder

In the next five years, gas demand will grow by 1.6% per year – faster than other hydrocarbons. The production will grow at the same…

Uzbekneftegaz to Sack 12,000 Employees

By the decision of the President of Uzbekistan Shavkat Mirziyoyev, a set of measures to improve the management system of the oil and gas industry…

Societe Generale Reduces Forecast of Oil Prices for Second Time

Analysts predict a decline in oil prices in the second half of 2017 Analysts of Societe Generale for the second time since the beginning of…

Gas Prices in Uzbekistan Increase by 7%

In Uzbekistan, since July 15, the tariffs on natural gas for the population will increase by 7%. In particular, the cost of 10 cubic meters…

TAP Announces New Management Team

Trans Adriatic Pipeline AG (TAP) announced the appointment of Luca Schieppati as Managing Director and Walter Peeraer as President, both starting on 27th June 2017….

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