“Once construction work on the Albanian sector of the Trans Adriatic Pipeline (TAP) is completed, the pipeline will be buried underground,” the Trans Adriatic Pipeline (TAP) AG company said in its Twitter account ...

Energy research firm Wood Mackenzie: Production cut will cause Brent to rise back above $70 a barrel

11.12.2018 [13:33]
The output cut will cause Brent to rise back above $70 a barrel, CNBC quoted vice president of macro oils at Wood Mackenzie energy research firm Ann-Louise Hittle as saying. According to Ann-Louise Hittle, Energy research firm Wood ...

Azerbaijani oil sells for $62.73

11.12.2018 [10:33]
The price of Azerbaijani oil has decreased on the world markets. The price of a barrel of Azeri Light crude oil fell $1.81 to stand at $62.73 ...

Oil prices increase on world markets

11.12.2018 [10:26]
On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil increased $0.03 to trade at $60, while the price of Light crude at the NYMEX (New York Mercantile Exchange) rose $0.01 to stand at $51.01 on ...

Oil prices on world markets

10.12.2018 [11:55]
On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil increased $0.30 to trade at $61.97, while the price of Light crude at the NYMEX (New York Mercantile Exchange) decreased $0.12 to stand at $52.49 on world markets ...

OPEC elects Venezuelan Petroleum Minister as its next president

08.12.2018 [21:33]
People's Minister of Petroleum of the Bolivarian Republic of Venezuela Manuel Salvador Quevedo Fernandez has been elected as a next President of the OPEC Conference for one year, with effect from 01 January 2019, while Mustapha Guitouni ...

Iran, Libya and Venezuela secure OPEC production cut exemptions

08.12.2018 [16:54]
Iran, Libya, and Venezuela have all secured the cutting oil production under the newest OPEC agreement signed on Friday, during the 5th OPEC and non-OPEC Ministerial Meeting in Vienna, Austria, OPEC’s President, Minister of Energy & Industry of the ...

OPEC and non-OPEC producers agree to cut crude output for 6 months of 2019

08.12.2018 [11:25]
The Organization of the Petroleum Exporting Countries has agreed with Russia and other non-OPEC allies to cut crude oil production by 1.2 million barrels per day for the first 6 months of 2019, OPEC said in a statement ...

OPEC agrees to cut output by 1.2m barrels a day

07.12.2018 [21:21]
OPEC and its oil producing allies reached an agreement to cut production by 1.2m barrels a day. The deal was hammered out at the OPEC secretariat in Vienna. The 1.2m b/d cut will be split 800,000 b/d for OPEC members and 400,000 b/d for countries outside the cartel ...

Oil prices fall on world markets

07.12.2018 [11:42]
On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil decreased $0.49 to trade at $59.57, while the price of Light crude at the NYMEX (New York Mercantile Exchange) fell $0.39 to stand at $51.10 on world markets ...

Azerbaijani oil sells for $60.24

07.12.2018 [10:48]
The price of Azerbaijani oil has decreased on the world markets. The price of a barrel of Azeri Light crude oil fell $3.81 to stand at $60.24 ...

SOCAR selects Honeywell for modernization program

06.12.2018 [16:21]
Honeywell (NYSE: HON) announced today that the State Oil Company of Azerbaijan Republic (SOCAR) will use Honeywell UOP’s Pressure Swing Adsorption (PSA) technology to supply high-quality hydrogen as part of the modernization of the Heydar Aliyev Oil Refinery (HAOR) in Baku, Azerbaijan ...

Azerbaijani, Saudi Energy Ministers share ideas on continuation of cooperation between OPEC and non-OPEC countries

06.12.2018 [12:11]
Azerbaijani and Saudi Energy Ministers adhere the continuation of cooperation between OPEC and non-OPEC countries in 2019 in terms of oil market regulation, as Energy Minister Parviz Shahbazov met Saudi Arabia’s Minister of Energy, Industry and Mineral ...

Azerbaijani oil sells for $64.05

06.12.2018 [11:15]
The price of Azerbaijani oil has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $0.19 to stand at $64.05 ...

Oil prices fall on world markets

06.12.2018 [10:56]
On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil decreased $0.47 to trade at $61.09, while the price of Light crude at the NYMEX (New York Mercantile Exchange) fell $0.50 to stand at $52.39 on world ...

About 98% of TAP route in Greece, Albania lowered into trench

05.12.2018 [18:20]
About 98% of the Trans Adriatic Pipeline (TAP) route in Greece and Albania has been lowered into the trench, according to the TAP AG consortium. “750 km out of 765 km in total now lowered into the trench. TAP will help integrate and diversify Europe’s energy supply ...

Iran stresses probe into Qatar OPEC withdrawal

05.12.2018 [16:48]
Iranian Petroleum Minister Bijan Zangeneh has underscored the importance of probing into the reasons behind Qatar withdrawal from the Organization of the Petroleum Exporting Countries (OPEC), according to IRNA news agency ...

BP Azerbaijan Vice President Aslanbayli: We believe that Chevron`s decision is a completely business decision

05.12.2018 [16:46]
“We believe that Chevron`s decision is a completely business decision,” said BP Azerbaijan`s Vice President for Communications, External Affairs, Strategy and Region Bakhtiyar Aslanbayli as he commented on media reports saying that Chevron is seeking to ...

Oil prices decrease on world markets

05.12.2018 [11:18]
On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil decreased $1.12 to trade at $60.96, while the price of Light crude at the NYMEX (New York Mercantile Exchange) fell $0.88 to stand at $52.37 on world markets ...