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Tag: SOCAR

President appoints two new Vice-Presidents to SOCAR

Azerbaijani President Ilham Aliyev has issued an order on appointment of Kanan Tahmaz Najafov and Zaur Aydin Gurbanov as the Vice-Presidents of the State Oil…

Fired Vice Presidents of SOCAR are awarded Honorary Oil Worker Badge

A meeting with the vice-presidents of the company, who were dismissed on July 19 by the relevant orders of the President of Azerbaijan, took place…

Restructuring at the State Oil Company of Azerbaijan

On July 19, despite the holiday, President of Azerbaijan Ilham Aliyev signed orders on dismissal of anumber of high-ranking employees of SOCAR (State Oil Company of Azerbaijan) from their posts….

Azerbaijan began to profit from the gas pipelines

Net profit of Canub Qaz Dehlizi CJSC (CQD, South Gas Corridor, a managing company from Azerbaijan) at the end of 2020 amounted to $ 18.739 million against a…

SOCAR ends 2020 with a net loss of $ 1.02 billion

The revenues of the State Oil Company of Azerbaijan (SOCAR) in 2020 amounted to 49 billion 607 million manats, a net loss of 1 billion…

Erdogan: Turkey and Azerbaijan can jointly implement oil and gas projects in Libya

Turkey and Azerbaijan can jointly implement projects in the oil and gas sector in Libya, Turkish President Recep Tayyip Erdogan said. “Currently, we are connected…

Baku and Ankara discuss the possibility of joint investments in oil and gas projects in third countries

Azerbaijan and Turkey are discussing the possibility of joint investments in the implementation of oil and gas projects in third countries, Turkish President Recep Tayyip…

SOCAR: Azerbaijan intends to establish export of hydrogen and ammonium to consumers in Europe

The State Oil Company of Azerbaijan plans to establish ammonium production from associated petroleum gas and its supply to Europe, said Farid Jafarov, general director…

SOCAR, Gazprom discuss cooperation in gas sector

President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev has met with the head of the Russian oil and gas company Gazprom, Alexei Miller. Report informs, citing…

SOCAR, Rosneft tie-up on fuel supplies to Ukraine, other countries

Azerbaijan’s state energy company SOCAR and Russia’s oil and gas giant Rosneft (ROSN.MM) have signed a deal to supply oil products and liquefied petroleum gas…

Has Azerigaz ever worked profitably?

By May 1, 2021, the number of subscribers provided with natural gas in the country reached 2 million 358 thousand 910 units, announced the Azerigaz…

Azerbaijan sends high-ranking delegation to oil and gas forum in Ashgabat

The date of the international forum on attracting foreign investment in the oil and gas sector of Turkmenistan to be held on May 12-13, 2021 in Ashgabatcoincided with the 30th…

Ilham Aliyev approved changes in the activities of the State Oil Company of Azerbaijan

Changes were made to the Decree of the President of the Republic of Azerbaijan dated January 24, 2003 N 844 “On improving the structure of…

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…

First Meeting of SOCAR Supervisory Board Was for Informational Purposes

The first meeting of the Supervisory Board of the State Oil Company (SOCAR), created by the decree of the President of Azerbaijan dated January 23,…

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

The international rating agency S&P Global Ratings has confirmed the credit rating of SOCAR at ‘BB-‘, the agency reports At the same time, the agency…

President Decides to Overhaul State Oil Company of Azerbaijan

President of Azerbaijan Ilham Aliyev ordered the creation of a Supervisory Board for general management and control over the activities of the State Oil Company…

SOCAR: Azerbaijan Supplied 13.4 Bcm of Gas to Foreign Markets in 2020

By the end of 2020, Azerbaijan exported 13.396 billion cubic meters (bcm) of gas. The State Oil Company of Azerbaijan reports this on its website…

BP’s Caspian Sea project emerges as Russia’s rival for European gas market

(Bloomberg) –Azerbaijan started commercial natural gas exports to Europe via the U.S.-backed Southern Gas Corridor, helping the region to diversify supplies away from Russia Gas…

Georgia to Receive 200 Mcm of Gas from SOCAR at Preferential Price in 2021

Acting Prime Minister of Georgia Giorgi Gakharia met yesterday with President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev This was announced by…

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…

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