"SOCAR does not depend on any foreign partners in developing oil and gas resources in the country. In fact, the government has already allocated funds for the development of the Umid natural gas field. But as a state-owned company, we prefer to ...

Oil prices increase on world markets

17.02.2018 [18:00]
Oil prices have increased on the world markets. On London ICE (Intercontinental Exchange Futures) cost of the Brent crude oil rose $0.51 to stand at $64.84. The price of the US Light crude oil at the NYMEX (New York Mercantile Exchange) increased ...

American ExxonMobil becomes shareholder of BTC project

17.02.2018 [16:39]
US oil company ExxonMobil has become a shareholder of Baku-Tbilisi-Ceyhan (BTC) main export pipeline, BP-Azerbaijan company reported. The ExxonMobil acquired 2.5 percent of BTC shares from CIECO. The report reads that the transaction has already taken place. BTC ...

Azeri Light crude sells for more than $66

17.02.2018 [16:29]
Azerbaijani oil price has risen on the world markets. The price of a barrel of Azeri Light crude oil increased $0.94 to stand at $66.21 ...

Azerbaijan produced 170 thousand tons of diesel fuel in January

16.02.2018 [20:21]
According to the State Statistical Committee, 167,800 tons of diesel fuel was produced in Azerbaijan in January, 2018. During this period, 109,100 tons of motor gasoline, 18,100 tons of gasoline for petrochemical industry, as well 4,5100 tons of ...

TAP Managing Director: “Trans Adriatic Pipeline is 2/3 completed”

16.02.2018 [20:05]
The Trans Adriatic Pipeline (TAP) is now two thirds completed. This includes all engineering, procurement and construction scope, announced TAP Managing Director Luca Schieppati at the 4th Southern Gas Corridor (SGC) Advisory Council in Baku, Azerbaijan ...

Azeri-Chirag-Gunashli produces 215 million barrels of oil in 2017

16.02.2018 [19:34]
Total Azeri-Chirag-Gunashli (ACG) production for the year was on average 588,000 barrels per day (b/d) (about 215 million barrels or 29 million tonnes in total) from the Chirag (51,000 b/d), Central Azeri (137,000 b/d), West Azeri (124,000 b/d), East Azeri (82,000 b/d), Deepwater Gunashli (117,000 b/d) and West Chirag ...

Caspian European Club tourism committee holds session

16.02.2018 [17:02]
Baku has hosted the closed session of the tourism committee operating within the Caspian European Club. In the course of the session held under the chairmanship of the head of the tourism committee Elshan Rahimov, the executives ...

Bakcell selects projects to be developed under the “Applab” program

16.02.2018 [15:53]
Bakcell, the First Mobile Operator and Leading Mobile Internet Provider of Azerbaijan, has finished the selection of the next projects, to be hosted and developed at the company’s “Applab” Center ...

President of TAP: Southern Gas Corridor is very important for region countries

16.02.2018 [13:22]
“The Southern Gas Corridor project is of great importance not only for Azerbaijan, but also for the region as a whole”, said President of TAP Walter Peeraer in his interview. He emphasized that great efforts being made to transport natural gas to ...

Results achieved in January of this year show that non-oil sector is the main developing area of Azerbaijan’s economy, President

16.02.2018 [13:20]
“The results of January 2018 demonstrate that the main developing area of Azerbaijan’s economy is the non-oil sector. Our economy grew by 4 per cent. Our economic growth for January in the non-energy sector of the industry is 8.7 percent,” said ...

President Ilham Aliyev: Southern Gas Corridor is a project of energy security

16.02.2018 [11:08]
“The Southern Gas Corridor is a project of energy security. While we are talking about national security, of course, today, energy security is one of the most important elements,” said Azerbaijan’s President Ilham Aliyev at the 4th Ministerial Meeting ...

Works on implementation of Shah Deniz-2 project almost completed

16.02.2018 [11:03]
The works on the implementation of the Shah Deniz-2 project, operated by BP, is almost complete. The project is now over 99 percent complete for first gas, in terms of engineering, procurement, construction and commissioning and remains on target for ...

Azerbaijani oil price exceeds $65

16.02.2018 [10:41]
Oil prices continues to increase on the world markets. Price of a barrel of Azeri Light crude oil increased $0.57 to stand at $65.27. On London ICE (Intercontinental Exchange Futures) cost of the Brent crude oil rose $0.39 to stand at $64.72. The price of the ...

Georgia, Azerbaijan to deepen economic relations

16.02.2018 [10:26]
Trade turnover between Azerbaijan and Georgia amounted to USD 244.58 million in January-September 2016, It was stated at the meeting of the Azerbaijani Minister of Economy Shahin Mustafayev and his counterpart, the First Vice ...

Joint Declaration on outcome of 4th Ministerial Meeting of SGC Advisory Council signed

15.02.2018 [21:53]
A Joint Declaration on the outcome of the 4th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council has been signed. Addressing a press conference on the results of the meeting, Azerbaijan`s Minister of Energy Parviz Shahbazov said that ...

SOCAR Balkans, Albgaz sign letter of intent

15.02.2018 [20:05]
Azerbaijan`s SOCAR Balkans and Albanian Albgaz have today signed a letter of intent. The document was signed on the sidelines of the 4th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council in Baku ...

European company to pass through hub in Azerbaijan

15.02.2018 [13:13]
Hupac has launched a new service connecting Europe and Central Asia, as well as Turkey and Iran. Intermodal Express in cooperation with Azerbaijan's ADY Container and Hupac Intermodal connects networks between Europe ...

Azerbaijan, Great Britain discuss cooperation in civil aviation

15.02.2018 [11:00]
A delegation led by UK Prime Minister’s Trade Envoy Baroness Emma Nicholson has held negotiations at the Azerbaijan Airlines CJSC (AZAL). The sides expressed satisfaction with cooperation of the two countries in the political and economic spheres. Azerbaijan’s civil ...