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Tag: SOCAR

Processing Volumes in Azerbaijan Slightly Decreased

In January-October this year, Azerbaijan processed 4.8 million tons of oil. This was reported by the Ministry of Energy of the Republic of Azerbaijan According…

SOCAR Is Azerbaijan’s Leader in Export of Non-oil Products

The total volume of exports of non-oil products from Azerbaijan by 20 large state and private companies in January-September 2020 amounted to $ 737.991 million,…

S&P: Only 10% of SOCAR’s Debt Guaranteed by Government

The international rating agency S&P Global Ratings has confirmed the long-term credit rating of SOCAR at BB- The forecast on SOCAR ratings has been revised…

SOCAR: in 2020 Oil Production in Azerbaijan to Fall by 3 Million Tons

SOCAR (State Oil Company of Azerbaijan) plans to produce 7.2 million tons of oil with condensate in 2020, taking into account OPEC + obligations to…

SOCAR to create globally integrated oil products division

Diesel demand in Europe is unlikely to recover until well into 2021, and struggling refiners in the region will come under further pressure, Switzerland-based Socar…

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…

Ilham Aliyev Not Happy with Management of State-owned Companies in Azerbaijan: They Pull Our Economy Down

President of Azerbaijan Ilham Aliyev instructed the government to prepare a new management system for state-owned companies. “State-owned companies are pulling our economy down. If…

Azerbaijan Exported 85,000 Tons of Oil through Russia in July

The State Oil Company of Azerbaijan pumped about 85 thousand tons of oil through the Baku-Novorossiysk oil pipeline in July. This was announced by the…

SOCAR: Baku Oil Refinery Started Processing Turkmen Oil

The Trans-Adriatic Gas Pipeline (TAP), built to transport Azerbaijani gas to Europe, will be ready for launch in October-November this year. This was stated by…

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