New floating drilling rig to be commissioned by the end of 2016
Azerbaijan State Oil Company (SOCAR) will commission a new floating drilling rig by the end of 2016. This will be one of the most modern facilities in the world, president of SOCAR Rovnag Abdullayev said ...

SOCAR president speaks at session of Atlantic Council Energy & Economic Summit

25.11.2014 [11:38]
As earlier reported, on 20-21 November the Atlantic Council Energy & Economic Summit took place in Istanbul. The event entitled “Energy and Economy” was attended by US Vice President Joe Biden and Prime Minister of Turkey Ahmet Davutoglu. SOCAR’s President Rovnag ...

SOCAR chief: Greece is a valuable partner for Azerbaijan

21.11.2014 [14:55]
President of Azerbaijan`s state oil firm, SOCAR, Rovnag Abdullayev has praised the importance of Greece to Azerbaijan as he was interviewed by Greek Imerissia newspaper. ...
SOFAZ Executive Director attends 6th meeting of International Forum of Sovereign Wealth Funds

SOFAZ Executive Director attends 6th meeting of International Forum of Sovereign Wealth Funds

21.11.2014 [14:03]
Executive Director of Azerbaijan`s State Oil Fund (SOFAZ), Shahmar Movsumov, has participated in the 6th annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF) in the Qatari capital of Doha. Hosted by the Qatar Investment Authority, the meeting convened senior officials of Sovereign Wealth Funds from more than 24 ...
UK crisis brings Azerbaijan’s role in ensuring EU energy security centre-stage

UK crisis brings Azerbaijan’s role in ensuring EU energy security centre-stage

20.11.2014 [13:39]
On 18 November, The European Azerbaijan Society (TEAS) organized a timely debate in Parliament to discuss the future of the UK’s energy supply and how this may be secured in the future. The debate came at an important time, as the past year has seen the signing of the $45bn final investment decision (FID) between the ...
2nd Azerbaijan and Caspian Sea Oil and Gas Week 2014 kicks off

2nd Azerbaijan and Caspian Sea Oil and Gas Week 2014 kicks off

20.11.2014 [13:09]
The 2nd Azerbaijan and Caspian Sea Oil and Gas Week 2014 kicked off in Baku, capital of Azerbaijan. Speaking at the forum, the head of department of marketing and logistics of the Oil and Gas Processing and Petrochemical Complex (NOC) ...
Azeri Light oil price increases in world markets

Azeri Light oil price increases in world markets

20.11.2014 [12:19]
The price of a barrel of Azeri Light crude oil has increased $0,18 to stand at $80,14 in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange), cost of the US Light crude oil decreased $ 0,03 to trade at ...
New contracts awarded for Shah Deniz Stage 2

New contracts awarded for Shah Deniz Stage 2

19.11.2014 [11:28]
The Shah Deniz consortium has announced the recent award of a further two contracts key to the progress of the Shah Deniz Stage 2 development project. The two contracts have a combined value of $226 million and have been awarded to ShawCor Nederland B.V. (Bredero), part of ...
Turkish Ambassador to Romania: I am ready to cooperate with SOCAR during my diplomatic tenure

Turkish Ambassador to Romania: I am ready to cooperate with SOCAR during my diplomatic tenure

14.11.2014 [12:51]
Newly appointed Turkish Ambassador to Romania Osman Koray Ertas has expressed his keenness to cooperate with Azerbaijan`s state oil firm, SOCAR, as he visited the company`s office in Bucharest. Mr. Ertas praised SOCAR’s achievements in Romanian market. The Ambassador was informed of the company`s activities and major projects. He was told ...
Oil price changes in world markets

Oil price changes in world markets

13.11.2014 [12:29]
The price of a barrel of Azeri Light crude oil has decreased $0.76 to stand at $77.18 in the world markets. On the New York Stock Exchange, cost of the US Light crude oil decreased $0.55 to trade at ...

Romania hosts conference on Azerbaijan`s geopolitical importance

13.11.2014 [11:24]
A conference titled “Geopolitical importance of Azerbaijan in new international context” has been held at the Romanian-American University in Bucharest. The event supported by the Heydar Aliyev Foundation, brought together staff of the University, employees of Azerbaijani Embassy in Romania, representatives of Romania ...
Turkish Minister says BOTAS and TPAO will continue projects in Azerbaijan

Turkish Minister says BOTAS and TPAO will continue projects in Azerbaijan

11.11.2014 [17:13]
“The events that happened in the past year have increased the importance of TANAP project. Both BOTAS and TPAO will continue to implement important projects in Azerbaijan and the Caspian Sea,” Turkish minister of energy and natural resources Taner Yildiz said at an event marking the 2nd year of the Caspian Strategy Institute (HASEN) program. ...
Iranian Minister: Hassan Rouhani`s visit will contribute significantly to the deepening of our relations with Azerbaijan

Iranian Minister: Hassan Rouhani`s visit will contribute significantly to the deepening of our relations with Azerbaijan

09.11.2014 [14:18]
The Iranian Minister of Communications and Information Technology has expressed confidence that the forthcoming visit of President Hassan Rouhani to Azerbaijan will be an ...
SOCAR to construct 6 news gas stations in 2015

SOCAR to construct 6 news gas stations in 2015

06.11.2014 [13:32]
The Azerbaijani state oil firm (SOCAR) will construct six gas stations (CNG) in Baku and suburban areas next year, the company`s President Rovnag Abdullayev has said at the OGPC Forum. “In future such stations will be built every 180 km, which is ecologically and economically ...
Oil prices fall in world markets

Oil prices fall in world markets

05.11.2014 [14:55]
The price of oil has continued to fall in the world markets. On the New York Stock Exchange NYMEX (New York Mercantile Exchange) cost of the US Light crude oil has fallen $1.59 to stand at $77.19. Price of British Brent crude oil at the London ICE (InterContinental Exchange Futures) has ...
Hungarian delegation visits SOFAZ

Hungarian delegation visits SOFAZ

03.11.2014 [21:59]
Executive director of the State Oil Fund of the Azerbaijan Republic (SOFAZ) Shahmar Movsumov has today met a delegation led by Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto. ...
European Gas Conference stresses importance of Azerbaijan`s energy projects

European Gas Conference stresses importance of Azerbaijan`s energy projects

01.11.2014 [18:20]
Director of SOCAR`s Representative Office in the United Kingdom Rufat Afandiyev has highlighted the Southern Gas Corridor project that will transport Azerbaijani gas to the European market as he attended the European Gas Conference in London ...
$11.4 bn spent on Shah Deniz-1 project

$11.4 bn spent on Shah Deniz-1 project

31.10.2014 [15:33]
BP Regional President for Azerbaijan, Georgia and Turkey Gordon Birrell has said $11.4 billion has been spent on the Shah Deniz-1 project so ...
Azeri Light oil price increases in world markets

Azeri Light oil price increases in world markets

30.10.2014 [13:53]
The price of a barrel of Azeri Light crude oil has increased $1.17 to stand at $90.52 in the world markets. On the New York Stock Exchange, cost of the US Light crude oil raised $0.78 to trade at $82.20. Price of British Brent crude oil at the London ICE (InterContinental Exchange ...