Azerbaijan

In January-November, incomes of Azerbaijani State Oil Fund from sale of profitable oil from Azeri-Chirag-Gunashli grew by 26%

In January-November 2017, revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli block amounted to $5 780 million, the Fund informed.

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In January-November, petrol production in Azerbaijan grew by 5%

In January-November 2017, production of oil products in Azerbaijan decreased by 9% compared to the same period in 2016 to 2 469.2 million manats, the State Statistics Committee reports.

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SOCAR is seriously considering buying the Sicilian asset of LUKOIL – Isab.

SOCAR is considering buying Isab, the oil refinery, currently owned by LUKOIL, the Vice President of the Azerbaijani company for investment and marketing E. Nasirov stated on December 14, 2017.

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Azerbaijan financed over 70% of its stake in the Southern Gas Corridor

CJSC Southern Gas Corridor invested $8.4 billion in financing its equity participation in the project. This is reported by the company.

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In January-November, oil production in Azerbaijan fell by 6%, gas – by 2%

In January-November 2017, oil production in Azerbaijan decreased compared to the same period last year by 6.2%, the volume of commodity gas production - by 2.2%.

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Azneft introduces a new format for the implementation of projects

The production association Azneft of the Azerbaijani state company SOCAR is starting to implement projects in a new format, Dashgin Iskenderov, the general director of the production associaion, sa

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In 2016, Azerbaijan earned over $5.5 bln from export of oil

In 2016, 127.38 million barrels of oil attributable to the Azerbaijani state-owned company SOCAR and to the state to the total amount of $5.53 billion were sold on world markets, the final report o

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SOCAR to supply oil to Vietnamese refinery

SOCAR Trading (a subsidiary of SOCAR) has signed an agreement with Vietnamese state-owned company Binh Son Refining and Petrochemical Co (BSR) and state-owned oil trader PV Oil to supply oil.

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Erdogan: TANAP turns Turkey into energy hub in the region

Due to TANAP, Turkey has become an energy hub in the region. This was reported by the President of the country Recep Tayyip Erdogan, who was visiting Greece.

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Baku and Astana create working groups for transportation of Kazakhstani oil and gas through Azerbaijan

Baku and Astana are creating two working groups on issues of transportation of Kazakh oil and gas through Azerbaijan to world markets, Energy Minister Kanat Bozumbayev told journalists in Baku on T

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