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Tag: Azerbaijan

OPEC announces forecast on Azerbaijan’s oil production in 2022

Azerbaijan’s daily production of oil and another liquid hydrocarbon will make up 750,000 barrels this year, down 20,000 barrels from the previous forecast, Report informs, citing OPEC….

Delegation of Azerbaijani Energy Ministry visits Turkmenistan

On July 28, a delegation led by the Azerbaijani Energy Minister Parviz Shahbazov paid a visit to Turkmenistan within the framework of the third meeting…

Georgia increases electricity imports from Azerbaijan

From January through June 2021, Georgia imported 505 million kilowatt-hours of electricity from Azerbaijan, Report informs with reference to the Georgian Electricity Market Operator (ESCO). According to…

OPEC raises forecast on Azerbaijan’s oil production

The Organization of the Petroleum Exporting Countries (OPEC) has increased its forecast for the average daily production of oil and other liquid hydrocarbons in Azerbaijan…

BP has not changed data on Azerbaijan’s proven oil reserves for 19 years

The confirmed oil reserves in Azerbaijan at the end of 2020 are estimated at 1 billion tons (7 billion barrels), and Azerbaijan’s share in the…

Azerbaijan fulfills commitments under OPEC+ deal in June

Azerbaijan fulfilled its commitments under the OPEC+ deal in June 2021. The volume of oil production (including condensate) in the country amounted to 705,100 barrels, Report informs…

Gazprombank offers Azerbaijan “green” mechanisms

Minister of Energy Parviz Shahbazov met with the delegation led by Denis Shulakov, First Vice-President and Head of the Capital Markets block of Gazprombank in…

Turkmenistan’s President receives Rovnag Abdullayev

President of Turkmenistan Gurbanguly Berdimuhamedov has received President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev. Report informs that SOCAR President expressed gratitude to…

Qatari companies may participate in renewable energy auctions in Azerbaijan

Energy Minister Parviz Shahbazov has received the Ambassador of the State of Qatar to Azerbaijan Faisal bin Abdullah Al Hinzab, Report informs, citing the ministry. The meeting…

Azerbaijan reaching maximum volumes of gas pumping via Southern Gas Corridor to Europe

Gas supplies via the Southern Gas Corridor from Azerbaijan to Europe are going at almost maximum design capacity, Report informs referring to EADaily. On the one hand,…

IMF: SGC pipeline to boost exports of natural gas, mitigating decline in oil production

Risks to the outlook of the Azerbaijani economy are broadly balanced, although uncertainty about the future of the pandemic remains high, Report informs referring to a report…

Iran starts electricity import from Azerbaijan

In order to reduce restrictions on electricity supply, electricity imports from Azerbaijan began on Thursday, said Iranian Energy Ministry’s Spokesman for Electricity Industry Mostafa Rajabi…

EIA downgrades forecast for Azerbaijan’s oil production in Q2

The US Energy Information Agency (EIA) has cut its forecast on Azerbaijan’s daily oil production for the second quarter, Report informs, citing “Short-Term Energy Outlook – June…

Energy Ministry, BP start cooperation on solar energy project in Zangilan/Jabrayil region

The Ministry of Energy of the Republic of Azerbaijan and BP signed an Implementation Agreement on cooperation in the evaluation and implementation of a project…

Celebrating 50th anniversary of joint operation of Aras and Mil-Mugan dams

On the occasion of the 50th anniversary of the joint operation of Aras and Mil-Mugan dams built along the Aras River, an anniversary ceremony was…

Natural gas export from Azerbaijan to Turkey increases by 16%

In March Azerbaijan exported 1,072,000,000 cubic meters of gas to Turkey, up 16% from the previous year, Report informs, citing Energy Market Regulatory Authority (EMRA). Thus, Azerbaijan…

Kazakhstan studying Azerbaijan’s experience in gasification

Director-General of SOCAR’s Azerigaz PU Ruslan Aliyev met with a delegation led by Kulov Ruslan, Deputy Chairman of the Kazakhstan Center for Modernization and Development…

94.1% of British investments in Azerbaijan are spent on the oil and gas sector

In 2019, the trade turnover between Azerbaijan and the UK increased by 34% and amounted to USD 704.6 million, stated at the Fourth meeting of the Azerbaijani-British Intergovernmental…

Azerbaijan becomes main supplier of petroleum bitumen to Georgia

In April this year, Georgia imported 7,800 tons of oil bitumen, the local Bureau of Report informs, citing Georgia’s Union of Petroleum Products Importers. Of this, 7,300…

EIA changes Azerbaijan’s Q2 oil production volume forecast

The US Energy Information Administration (EIA) has changed its forecast for Azerbaijan’s average daily oil production for the second quarter of 2021, Report informs, referring to Short-Term…

Azerbaijan becomes only oil supplier to Ukraine

From January through April this year, Ukraine reduced imports of oil and oil crude by 16.2 percent (by 72,740 tons) compared to the same period…

Azerbaijan, Indonesia sign MoU on energy cooperation

The Ministry of Energy of the Republic of Azerbaijan and the Ministry of Energy and Mineral Resources of the Republic of Indonesia have inked the…

Azerbaijan increases gas transportation to Italy via TAP

The Trans-Adriatic Pipeline (TAP), a segment of the Southern Gas Corridor, has increased the natural gas transportation from Azerbaijan by 77% since April 17. Report informs…

Azerbaijan boosts gas sales abroad by 40%

In January-March this year, Azerbaijan’s gas sales abroad amounted to about 5 billion cubic meters, which is 39.5% higher than a year earlier, Report mentions, citing the Energy Ministry….

Azerbaijan supplies 4 tankers of oil to Belarus

Azerbaijan supplied 360,100 tons of oil to Belarus in the first quarter of 2021, said Ibrahim Ahmadov, Deputy Head of the Department for Organization of Events and…

Georgia increases electricity imports from Azerbaijan

In the first quarter of 2021, Georgia imported 463.1 million kilowatt-hours of electricity from Azerbaijan, Report informs referring to the Georgian Energy Market Operator (ESCO). According to the ESCO,…

The visit of the President of Azerbaijan to Uzbekistan is being prepared

President of Azerbaijan Ilham Aliyev plans to make an official visit to Uzbekistan, said the Ambassador Extraordinary and Plenipotentiary of Uzbekistan to Baku Bahrom Ashrafkhanov….

OPEC raises forecast on Azerbaijan’s liquid hydrocarbons

Liquids supply is forecast to grow by 30,000 b/d to average 760,000 b/d in 2021, Report informs, citing OPEC. Azerbaijan’s liquids supply in February declined slightly m-o-m…

Azerbaijan fulfills its commitment under OPEC+ deal

In March 2021, daily oil production (including condensate) in Azerbaijan amounted to 734,800 barrels, with crude oil accounting for 592,100 and condensate responsible for 142,700…

Russia to transport 150 mcm of gas to Georgia through Azerbaijan

SOCAR and Gazprom Export signed a one-month agreement on transit of Russian gas to Georgia, SOCAR’s Deputy Head of Public Relations Ibrahim Ahmadov told Report. “According…

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