Azerbaijan`s Minister of Energy Parviz Shahbazov is attending the Belt and Road Energy Ministerial Conference in China. Shahbazov will address the conference, which is for the first time held within the “One Belt, One Road” initiative ...

SOCAR, Gazprom discuss cooperation prospects

13.10.2018 [12:39]
President of SOCAR Rovnag Abdullayev and chairman of the Management Committee of Russian energy giant Gazprom Alexey Miller have discussed prospects for cooperation between the two companies ...

SOCAR president meets with Turkish energy and natural resources minister

12.10.2018 [18:46]
SOCAR’s President Rovnaq Abdullayev has met with the Turkish Minister of Energy and Natural Resources Fatih Donmez. Abdullayev provided an insight into SOCAR’s investments in Turkey. He highlighted the forthcoming launch of Star refinery next week ...

September world oil output surpasses record high in August

12.10.2018 [18:01]
Global oil supply of 100.3 million barrels per day (mb/d) in September has surpassed the 100 million barrel-per-day milestone recorded in August, according to the International Energy Agency's (IEA) report on Friday, according to Anadolu Agency. Crude production from the Organization of the ...

SOFAZ included to top 100 most impactful public investors

11.10.2018 [16:26]
State Oil Fund of the Republic of Azerbaijan (SOFAZ) has been included to the list of 100 most significant, resilient, and impactful asset owner and public executives of 2018. In this globally recognized list, SOFAZ has been ranked 10th amongst hundred most ...

President of Azerbaijan: Modernization of Baku oil refinery will bring us big economic profit

10.10.2018 [17:50]
“Modernization of Baku oil refinery will bring us big economic profit,” President Ilham Aliyev has told a meeting of the Cabinet of Ministers. “The process of reconstruction and modernization of Baku oil refinery is underway. It is a very important industrial project. It will allow us to produce better quality oil products ...

President: Successful completion of Southern Gas Corridor project will open up new opportunities, new horizons for Azerbaijan

10.10.2018 [15:40]
“The successful completion of the Southern Gas Corridor project will open up new opportunities, new horizons for Azerbaijan,” said President Ilham Aliyev as he chaired a meeting of the Cabinet of Ministers ...

US official hails Azerbaijan`s role in diversifying energy sources and routes

10.10.2018 [12:54]
“Azerbaijan plays an important role in diversifying energy sources and routes,” said the newly appointed US Deputy Assistant Secretary of Bureau of European and Eurasian Affairs George Kent as he met with Azerbaijan’s Minister of Energy Parviz ...

Georgian deputy minister: Azerbaijan plays an important role in ensuring energy security of the region

04.10.2018 [17:48]
“Azerbaijan plays an important role in ensuring energy security of the region,” Georgian Deputy Minister of Economy and Sustainable Development Natia Turnava has told journalists. She emphasized that Azerbaijan is the main supplier of natural gas to Georgia ...

FM: Hungary is keen on participating in Southern Gas Corridor project

04.10.2018 [16:21]
“Hungary is keen on participating in the Southern Gas Corridor project,” said Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó as he met with Azerbaijan`s Minister of Energy Parviz Shahbazov on the sidelines of the Russian Energy Week ...

Iran’s oil minister: The best way to prevent oil prices from going up is not to apply sanctions to Iran

04.10.2018 [10:38]
The best way to prevent oil prices from going up is not to apply sanctions to Iran, said Iranian Oil Minister Bijan Namdar Zangeneh. "The best way to prevent prices from going up and for the market to be tension-free is to suspend the sanctions," the minister ...

Zaur Gahramanov: STAR oil refinery to be put into operation in November

03.10.2018 [12:41]
Turkey`s STAR oil refinery, owned by the State Oil Company of Azerbaijan (SOCAR), will be put into operation in November, 2018, CEO of SOCAR Turkey Energy Zaur Gahramanov said ...

SOCAR, Chinese corporation BGP create joint venture

03.10.2018 [10:16]
Azerbaijan State Oil Company (SOCAR) and the Chinese company BGP Inc, an affiliate company of the China National Petroleum Corporation (CNPC), signed an agreement on the establishment of a joint venture, SOCAR said ...

Mongolian President visits SOFAZ

25.09.2018 [20:03]
Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) Shahmar Movsumov has met with a delegation led by President of Mongolia Khaltmaagiin Battulga. Shahmar Movsumov made a presentation on the Fund’s history, mission ...

OPEC: Global energy demand to reach 364.7 million barrels per day in 2040

24.09.2018 [17:47]
Total primary energy demand is expected to increase by 91 million barrels oil equivalent per day (mboe/d) and reach 364,7 mboe/d in 2040, according to OPEC's World Oil Outlook for 2018. ...

Next OPEC and OPEC+ JMMC meetings due in Abu Dhabi on November 11

24.09.2018 [13:25]
The next meeting of the Joint Organization of the Petroleum Exporting Countries (OPEC)-non-OPEC Ministerial Monitoring Committee (JMMC) is scheduled to take place on 11 November 2018 in Abu Dhabi, UAE, according to organization`s official ...

Azerbaijan to chair Energy Charter Conference in 2020

21.09.2018 [14:23]
Azerbaijan will be chairing Energy Charter Conference in 2020, the press service of the Ministry of Energy told AZERTAC. Azerbaijan launched is bid to chair Energy Charter Conference since the Southern Gas Corridor will be fully commissioned ...

Azerbaijan`s energy minister to attend 10th meeting of OPEC+ Joint Ministerial Monitoring Committee

21.09.2018 [11:37]
Azerbaijan`s Minister of Energy Parviz Shahbazov will participate in the 10th meeting of the OPEC + Joint Ministerial Monitoring Commitee ( JMMC) in Algeria. The event will focus oil market development trends ...

7th Caspian Energy Forum held in Baku

21.09.2018 [11:31]
The 7th Caspian Energy Forum was held in Baku. Opening the forum, the first deputy chairman and the chief executive officer of Caspian European Club Telman Aliyev said that the Forum is being held by support of the Azerbaijani Government and the Caspian European Club ...