SOCAR hosts Samsung delegation
SOCAR President Rovnag Abdullayev has received a delegation led by President and CEO of Samsung Engineering Co., Ltd. Choong-Heum Park. The meeting focused on the discussions on the Carbamide Plant project and touched issues of mutual i ...
Over 15.5 million tons of Azerbaijani oil exported from Ceyhan port in 2016

Over 15.5 million tons of Azerbaijani oil exported from Ceyhan port in 2016

03.12.2016 [18:52]
SOCAR exported 159,712 tons of crude oil from the Novorossiysk Port, 91,616 tons of crude oil from the Supsa Port, and 1,501,807 tons of crude oil from the Ceyhan Port in November, 2016. In general, 1,137,953 tons of crude oil was exported from the ...
SOCAR exports 83,012 tons of diesel fuel in November

SOCAR exports 83,012 tons of diesel fuel in November

03.12.2016 [18:44]
In November 2016, SOCAR Marketing and Economic Operations Department exported 83,012 tons of diesel fuel, 2,843 tons of aircraft gasoline, 8,104 tons of high-pressure polyethylene, 6,190 tons of pyrolytic oil tar, 3,402 tons propylene, and 3,600 tons of butylene-butadiene fraction. ...
Oil prices rice on world markets

Oil prices rice on world markets

03.12.2016 [17:04]
Oil prices continue to rise on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.62 to stand at $51.68. Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) rose $0.52 to trade at $54.46. ...
Azeri Light crude sells for $55.04

Azeri Light crude sells for $55.04

03.12.2016 [15:24]
Azeri Light crude oil price has fallen on the world markets. The price of a barrel of Azeri Light crude oil decreased $0.07 to stand at $55.04 ...
OPEC reaches a deal to cut production

OPEC reaches a deal to cut production

02.12.2016 [16:52]
Exactly two years after Saudi Arabia coaxed its fellow OPEC members into letting market forces set the oil price, it has performed a nifty half-pirouette. On November 30th it led members of the oil producers’ cartel in a pledge to remove 1.2m barrels a day (b/d) ...
Azeri Light crude sells for $55.11

Azeri Light crude sells for $55.11

02.12.2016 [11:16]
The price of a barrel of Azeri Light crude oil increased $3.47 to stand at $55.11 on the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange), the cost of the US Light crude oil decreased $ 0.41 to stand at ...
Azerbaijan to back any decision aimed at stabilization of oil price

Azerbaijan to back any decision aimed at stabilization of oil price

02.12.2016 [10:26]
Azerbaijan supports any decision for stabilization of oil price in the world market. This was stated by Minister of Energy of the Republic of Azerbaijan Natig Aliyev who highly appreciated the decision on reduction of ...
Privatization of Greek gas grid operator DESFA fails

Privatization of Greek gas grid operator DESFA fails

01.12.2016 [18:58]
Greece said that talks to sell a 66% stake in gas grid operator DESFA to Azerbaijan’s state-owned oil company, SOCAR, were not successful, according to EurActiv. The Greek energy ministry said SOCAR’s proposal to reduce the price of the €400 million ...

Honeywell system selected for TANAP project

Honeywell system selected for TANAP project

01.12.2016 [17:50]
Honeywell Process Solutions (HPS) has recently announced that it will provide an integrated control and safety system for the Trans Anatolian natural gas pipeline (TANAP) in Turkey, according to World Pipelines. The control and safety system will ensure that compressor station operations are conducted ...
Oil prices keep a grip on rally after OPEC deal; Brent atop $52 a barrel

Oil prices keep a grip on rally after OPEC deal; Brent atop $52 a barrel

01.12.2016 [17:39]
Oil prices on Thursday held on to gains made after OPEC struck a long-sought agreement to reduce production by 1.2 million barrels a day, according to MarketWatch. Brent crude LCOG7, +1.58% , the global oil benchmark, rose 72 cents, or 1.4%, to $52.56 a barrel on London's ICE Futures exchange ...
Russia Welcomes OPEC's Agreement on Oil Production Cuts, Alexander Novak

Russia Welcomes OPEC's Agreement on Oil Production Cuts, Alexander Novak

01.12.2016 [12:32]
Russia welcomes the agreement reached at a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Energy Minister Alexander Novak said Wednesday, according to the Sputnik ...
Azeri Light crude sells for $51.64

Azeri Light crude sells for $51.64

01.12.2016 [11:12]
Oil prices continue to rise on the world markets. On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $4.21 to stand at $49.44. Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) rose $4.09 to trade at $50.47. ...
UNEC forecasts price for Azeri Light oil

UNEC forecasts price for Azeri Light oil

30.11.2016 [18:27]
Azerbaijan State University of Economics (UNEC) forecasted the world markets price of “Azeri Light” oil for 2016-2020. Factors made impact to the price of oil in econometric modeling were taken into account. It was said that these factors are scientific and technical progress, the discovery ...
Socar Trading expands crude team to target Chinese refiners

Socar Trading expands crude team to target Chinese refiners

30.11.2016 [16:01]
Nov 30 Azeri state oil company Socar's trading division has hired three new crude traders who will be based in London with a view to targeting the Chinese market, said its chief executive Arzu Azimov, according to Reuters ...
Oil price falls on world markets

Oil price falls on world markets

30.11.2016 [10:48]
Oil prices continue to fall on the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange), the cost of the US Light crude oil decreased $ 1.85 to ...
Azerbaijan, UK mull cooperation of oil-gas companies

Azerbaijan, UK mull cooperation of oil-gas companies

30.11.2016 [09:57]
An official opening ceremony of the visit program of delegation consisting of representatives of more than 25 companies operating in various sectors of oil and gas industry led by UK special trade envoy for Azerbaijan Baroness Nicholson was held in the ...
Azerbaijan, Czech Republic to sign MoU on energy cooperation

Azerbaijan, Czech Republic to sign MoU on energy cooperation

29.11.2016 [17:43]
Azerbaijan and the Czech Republic will sign a Memorandum of Understanding on energy cooperation. Director of the Department of Foreign Economic Policy of the Ministry of Industry and Trade of the Czech Republic Martin Pospisil said his country regards ...
Alexander Lukashenko: There is great interest in Belarus to petrochemical products of Azerbaijan

Alexander Lukashenko: There is great interest in Belarus to petrochemical products of Azerbaijan

29.11.2016 [13:15]
There is a great interest in the products of the petrochemical enterprises of Azerbaijan in Belarus, said President of the Republic of Belarus Alexander Lukashenko, speaking at the joint press conference with the President of Azerbaijan Ilham Aliyev. ...