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Tag: SOCAR

SOCAR gets 6% increase in gas production

State Oil Company of Azerbaijan (SOCAR) produced more than 1.924 million tons of oil in the first quarter of 2021, showing a 0.2% increase in…

Fitch: Capital expenditures of SOCAR in three years will amount to $ 5.3 billion

The capital investments of the State Oil Company of Azerbaijan for 2021-2023 are estimated at 9 billion manats ($ 5.3 billion at the current exchange…

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…

SOCAR reveals oil export volume via Baku-Novorossiysk

The State Oil Company of Azerbaijan (SOCAR) exported 169,450 tons of oil via the Baku-Novorossiysk pipeline in the first quarter of 2021, reads the operational…

SOCAR to build LNG terminal in Sri Lanka

This week, the State Oil Company of Azerbaijan Republic (SOCAR) said the company expects to join Sri Lanka’s upcoming LNG development program by partnering with…

Azerbaijan produces 5.8 million tons of oil

In January-February this year, Azerbaijan produced 5.8 million tons of oil (including condensate). According to the Ministry of Energy, oil (including condensate) production was about 342,000 tons less than…

STAR – among the world’s most digitalized refineries

With the vision of becoming one of the world’s most digital refineries, STAR Refinery, which has invested more than $70 million in its technological equipment…

President of Azerbaijan on SOCAR, Other State-owned Companies

“Everyone knows why the Investment Holding was created. This was also mentioned in my decree – to improve the management system. The management system of…

Azerbaijan’s commercial gas production up by 8%

In January 2021, Azerbaijan produced over 3.08 million tons of crude oil and gas condensate, including 3.075 million tons fell on marketable crude oil, Report informs, referring to the country’s…

SOCAR Strategy until 2035 Presented to Government

The State Oil Company of Azerbaijan (SOCAR) operates within the framework of the Comprehensive Strategic Development Plan for SOCAR until 2025, developed in 2011 SOCAR…

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