In Old Field of Caspian Sea Oil Production Brought up to 1 Million Tons
The Oil and Gas Extracting Department (OGED) Oil Rocks (the structure of Production Association Azneft SOCAR) for the first time in 2016 brought the annual…
BP Starts 2017 On An Optimistic Note – ACG
Despite the turbulence in the commodity markets in 2016, the year ended on a high note for the London-based integrated company, BP Plc. While the energy…
Turkey’s first FSRU opened, ready to boost energy supply security by 20M cbm daily
Turkey’s first floating natural gas storage and regasification unit (FSRU), which will compress an additional 20 million cubic meters of gas per day, opened on…
SOCAR to increase oil transportation through Russia in 2017
Azerbaijan’s State Oil Company SOCAR and Russia’s Transneft have agreed on volumes of oil transportation via the Baku-Novorossiysk pipeline for 2017, a source in SOCAR…
Azerbaijani companies may develop oil fields in Cuba
There are undiscovered oil fields in the Cuban part of a shelf in the Gulf of Mexico, and Azerbaijani companies could show interest for participation…
SOCAR commissions new well in Caspian Sea
Azerbaijan’s state oil company SOCAR will additionally produce over 5,100 tons of oil annually due to the commissioning of a new horizontal well at the…
SOCAR grows overseas
The State Oil Company of Azerbaijan Republic (SOCAR) plans to continue to expand abroad. The company has invested 4.487 bln USD in foreign projects in…
TPAO’s investments in Azerbaijan exceed $10 billion
The total volume of investments of the Turkish Petroleum Corporation (TPAO) in Azerbaijan exceeded $10 billion, the TPAO CEO Besim Sisman said in an interview…
World Bank approves allocation of loan for TANAP
The World Bank’s Board of Executive Directors today approved a $400 million loan for Turkey and a $400 million loan for Azerbaijan for the Trans-Anatolian…
WB to render technical assistance to Azerbaijani State Oil Fund
The meeting of the Multi-stakeholder Group (MSG) on implementation of the Extractive Industries Transparency Initiative (EITI) in Azerbaijan was held on December 20, 2016 at…
Why So Many Oilmen Killed in Narimanov Oil and Gas Extracting Department?
Yesterday at 5 a.m. as a result of an accident at the oil gathering station №3 of the Oil and Gas Extracting Department (OGED) named…
Accident in Caspian Sea: 10 people missing
Ten people went missing as a result of an accident at the oil-gathering station #3 of the department on oil and gas output of AzNeft…
SOCAR attends 21st Turkmenistan International Oil & Gas Conference
SOCAR attended the annual 21st Turkmenistan International Oil & Gas Conference- Exhibition OGT 2016. According to the press service of SOCAR, the delegation led by…
If ExxonMobil were a country, it would be the world’s 41st largest economy
Exxon Mobil Chairman and CEO Rex Tillerson is said to be Donald Trump’s likely nominee for secretary of state. (Eric Piermont/AFP) Among the names being…
Azerbaijan to cut oil production by 35.000 barrels per day
Azerbaijan to cut oil production by 35.000 barrels per day, Azerbaijan’s Energy Ministry told Trend. OPEC has persuaded 11 non-member countries to cut their oil…
Georgia Announced Imports of Electricity from Azerbaijan in 2017
The Ministry of Energy of Georgia has approved the balance of power in the country in 2017, according to which it is planned to increase…
Azerbaijan Expects US Support to Overcome Problems in Construction of TAP
Azerbaijan is counting on US political support for the Southern Gas Corridor (SGC) project to avoid political difficulties with the construction of the Trans-Adriatic Pipeline…
ADB Approves Loan of $ 1 Billion for Southern Gas Corridor
The Board of Directors of the Asian Development Bank (ADB) has approved a loan of Azerbaijan CJSC Southern Gas Corridor (SGC). This was reported in…
American Company Closes Office in Baku
The company Champion Technologies Russia & Caspian BV, an affiliate of the American petrochemical company Champion Technologies, has announced the elimination of its representative office…
Azerenergy Drowning in Debt – Fitch
The international rating agency Fitch has affirmed long-term issuer default rating (IDR) of Azerenergy at the level of «BB +», short-term IDR – at «B»,…
What Azerbaijan Plans To Do When The Oil Runs Out
Wade Shepard , Contributor I travel to emerging markets around Asia and report on what I find Azerbaijan has read the writing on the wall:…
Azerbaijan, Spain – important in European energy security
Azerbaijan and Spain will play an important role in ensuring energy security of Europe, Jose Luis Diez Juarez, Charge d’Affaires of Spain to Azerbaijan told…
Socar Trading expands crude team to target Chinese refiners -CEO
Nov 30 Azeri state oil company Socar’s trading division has hired three new crude traders who will be based in London with a view to…
Azerbaijan, Czech Republic to sign memorandum on energy
Azerbaijan and the Czech Republic will sign a memorandum on mutual understanding in the energy sector in January 2017, the Azerbaijani Energy Ministry said in…
Azerbaijan, EU mull Central Asia’s joining SGC
Azerbaijan’s Energy Minister Natig Abbasov met with representatives of EU Working Party on Eastern Europe and Central Asia, the Energy Ministry said in a message….
Azerbaijan cuts gas losses
Azerbaijan’s state statistical committee reports that in Jan-Sep 2016 the amount of gas lost in onshore pipes was 3.3% (525mn m³), down from 4.4% (735mn…
SOCAR received a share in the LNG project in West Africa
The CI-GNL (Ivory Coast LNG) consortium has been awarded rights to build and operate a LNG regasification terminal in Cote d’Ivoire with a capacity of…
Southern Gas Corridor one of key factors of Azerbaijan’s future
The Southern Gas Corridor is a very important factor of Azerbaijani economy’s development, it is a huge project with huge investments, Italian Ambassador to Azerbaijan…
Azerbaijan cuts gas losses
Azerbaijan’s state statistical committee reports that in Jan-Sep 2016 the amount of gas lost in onshore pipes was 3.3% (525mn m³), down from 4.4% (735mn…
Canada’s Zenith gets first revenue from Azerbaijani oilfield
Canada’s Zenith Energy Ltd has received the first two payments for invoices generated for producing Ural crude oil from the Muradkhanli-Zardab-Jafarli field in Azerbaijan during…