Shahmar Movsumov: Azerbaijan has a strong base to withstand shocks
Azerbaijan has a strong base to withstand shocks, Shahmar Movsumov, Executive Director of the State Oil Fund of Azerbaijan Republic (SOFAZ), wrote in his letter published in Financial Times. Movsumov agrees that most of the hydrocarbon-exporting countries, including Azerbaijan are ...
Azerbaijani Ministry of Energy, EC Energy Union to sign protocol

Azerbaijani Ministry of Energy, EC Energy Union to sign protocol

06.02.2016 [13:39]
Azerbaijani Ministry of Energy and European Commission Energy Union will sign a protocol. This was decided during a meeting between Minister Natig Aliyev and director of the Energy Community Secretariat Janez Kopac. ...
Oil price on world markets

Oil price on world markets

06.02.2016 [10:39]
The price of oil has fallen on the world markets. On the New York Stock Exchange NYMEX cost of the US Light crude oil decreased $0.75 to stand at $30.97. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) fell $0.22 to trade at $34.12. ...
European Investment Bank pledges 1 billion euros for TANAP

European Investment Bank pledges 1 billion euros for TANAP

05.02.2016 [19:22]
The European Investment Bank (EIB) has pledged one billion euros in a loan for the construction of Trans-Anatolian gas pipeline project (TANAP). EIB Vice-President Pim van Ballekom said their aim was to support the project through Botas company. He said the World Bank ...
SOCAR, Maire Tecnimont sign contract to build polyethylene plant

SOCAR, Maire Tecnimont sign contract to build polyethylene plant

05.02.2016 [13:28]
The State Oil Company of Azerbaijan (SOCAR) and Italian Maire Tecnimont have signed a contract on the construction of a polyethylene plant. The document was signed by SOCAR President Rovnag Abdullayev and Maire Tecnimont ...
2.8 million tons of oil delivered from Ceyhan Port to world market in January 2016

2.8 million tons of oil delivered from Ceyhan Port to world market in January 2016

05.02.2016 [11:42]
2 million 848 thousand 91 tons of Azerbaijani oil were delivered from Ceyhan Port to the world market in January 2016. According to the press service of SOCAR, 1 million 510 thousand 914 tons of this volume was the oil of the State Oil Fund of Azerbaijan Republic ...
Oil price on world markets

Oil price on world markets

05.02.2016 [11:07]
The price of oil changed in different directions in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil decreased $0.11 to stand at $31.72. Price of the Brent crude oil at the London ICE ...
BP to do seismic research in shallow waters of Absheron Peninsula

BP to do seismic research in shallow waters of Absheron Peninsula

05.02.2016 [10:43]
BP Azerbaijan will start three-dimensional seismic studies on the potentially prospective structures located in the shallow waters of the country’s Absheron Peninsula from March 1, BP Azerbaijan said. It was stated at the public hearings on the Environmental Impact Assessment (EIA) report, which took ...
Azerbaijan, Georgia discuss gas supply problems

Azerbaijan, Georgia discuss gas supply problems

04.02.2016 [22:00]
President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev has today met with Georgian Deputy Premier, Minister of Energy Kakha Kaladze to discuss how to solve problems related to the supply of Azerbaijani gas to Georgia. According to SOCAR, they discussed bilateral ...
Astana to host International Conference Tank Farms and Oil Terminals of Caspian Region

Astana to host International Conference Tank Farms and Oil Terminals of Caspian Region

04.02.2016 [13:00]
The 2nd International Conference Tank Farms and Oil Terminals of Caspian Region will take place in Astana, Kazakhstan on 16-17th May 2016. AZERTAC is a media partner of the conference. More than 150 delegates will represent leading oil transportation and storage companies, national operators, regulators, experts and ...
Oil price on world markets

Oil price on world markets

04.02.2016 [11:23]
The price of oil rose on the world markets. On the New York Stock Exchange NYMEX cost of the US Light crude oil increased $2.17 to stand at $31.83. Price of the Brent crude oil at ...
Azerbaijan`s Minister of Energy meets Greek FM

Azerbaijan`s Minister of Energy meets Greek FM

03.02.2016 [20:46]
Azerbaijan`s Minister of Energy Natig Aliyev has met Minister of Foreign Affairs of Greece Nikos Kotzias. Mr. Aliyev highlighted successfully developing economic relations between Azerbaijan and Greece, saying friendship and mutual respect ...
Oil prices could jump 50% by the end of 2016

Oil prices could jump 50% by the end of 2016

03.02.2016 [18:37]
Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for a bigger and longer rebound by the end of the year, according to Bloomberg. Analysts are projecting prices will climb more than $15 by the end of 2016. New York crude will reach $46 a barrel ...
Oil price on world markets

Oil price on world markets

03.02.2016 [16:12]
The price of oil has continued to fall in the world markets. On the New York Stock Exchange NYMEX cost of the US Light crude oil decreased $1.25 to stand at $29.66. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) fell $1.09 to trade at $32.39 ...
Latvian President: We highly value Azerbaijan’s role in implementation of Southern Gas Corridor

Latvian President: We highly value Azerbaijan’s role in implementation of Southern Gas Corridor

02.02.2016 [21:43]
“We highly value the role of Azerbaijan in the implementation of the Southern Gas Corridor and the ongoing work on the expansion of the South Caucasus Pipeline, the Trans-Anatolian Natural Gas Pipeline (TANAP), and the Trans-Adriatic Pipeline (TAP),” Latvian President ...
Kulevi Oil Terminal transshipped 20 mln tons of oil and gas products so far

Kulevi Oil Terminal transshipped 20 mln tons of oil and gas products so far

02.02.2016 [19:58]
Kulevi Oil Terminal has transshipped 20 mln tons of oil and gas products since its operations began in 2008. Meeting international safety standards Kulevi Oil Terminal provides the most efficient operations and satisfies all customer needs ...
Ambassador to US: Russia-OPEC talks to stabilize oil prices to benefit Azerbaijan

Ambassador to US: Russia-OPEC talks to stabilize oil prices to benefit Azerbaijan

02.02.2016 [15:23]
Azerbaijan would welcome a Russia-Organization of Petroleum Exporting Countries agreement to cut production and stabilize oil prices, Azerbaijani Ambassador to the United States Elin Suleymanov told Sputnik. "We would like to see the prices of oil to go up. That is in our interest. If the ...
Oil price on world markets

Oil price on world markets

02.02.2016 [14:48]
The price of oil has again fallen on the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil decreased $2.18 to stand at $30.91. Price of the Brent crude oil at the London ICE (InterContinental Exchange Futures) fell $2.25 to trade at $33.48 ...
SOCAR ‘does not need’ to buy gas from any country

SOCAR ‘does not need’ to buy gas from any country

01.02.2016 [19:45]
“Currently, there is no need for SOCAR to purchase gas from any country,” the company`s vice-president Elshad Nasirov has told journalists. He underlined that in case AzMeCO, Azerenerji or other companies ...