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Tag: 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…

Azerbaijan to Resume Oil Export through Russia Today

The State Oil Company of Azerbaijan plans to resume oil export via the Baku-Novorossiysk oil pipeline from July 17, 2020. SOCAR spokesman Ibrahim Ahmedov said repair…

As Part of Modernization of Baku Refinery,Azfen Receives Subcontract of $ 237 Million

Spanish company Tecnicas Reunidas attracted the Azerbaijani-Turkish joint venture Azfen as a subcontractor to modernize the facilities of the Baku Oil Refinery named after H….

German Companies Interested in SOCAR Gas Processing Complex Project

On July 17, SOCAR President Rovnag Abdullayev received German Ambassador to Azerbaijan Wolfgang Manig. The head of the State Oil Company told about the progress…

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,…

Oil Price at $ 23 / Barrel Considered Profitable for SOCAR

The Fitch Ratings international rating agency affirmed the State Oil Company of Azerbaijan (SOCAR) long-term issuer default rating of “BB +”, the agency’s press release…

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