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Tag Archives: oil

SOCAR’s revenue up by 56.3 pct in 2021


The revenue of the Azerbaijani State Oil Company for 2021 increased by 56.3 percent and amounted to AZN77.5 billion ($45.5bn), Azernews reports. “As a result of the implemented optimization and technological transformation measures, SOCAR was able to improve its operational efficiency in 2021 significantly. SOCAR’s revenue growth was due to …

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Azerbaijan boosts production in non oil, gas sector

oil, gas

Azerbaijan increased the volume of production in the non-oil and gas sector by 16.5 percent in January-April 2021, the State Statistics Committee has reported. During the reported period, industrial products worth AZN 14.9 billion ($8.7bn) were produced, which is by 3.8 percent less compared to the same months of last year. …

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Azerbaijan Georgia’s main bitumen supplier in 2020

Azerbaijan Georgia

Azerbaijan was Georgia’s main bitumen supplier in 2020, accounting for 63.8 percent of this country’s total imports of bitumen, Azertag has reported. In 2020, Azerbaijan exported 82,100 tons of oil bitumen to Georgia. Overall, Georgia imported 128,700 tons of oil bitumen in 2020, which is by 24.3 percent or 41,300 …

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Oil prices increase on world markets


On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil increased $0.68 to trade at $61.77, while the price of Light crude at the NYMEX (New York Mercantile Exchange) rose $0.65 to stand at $53.78 on world markets.

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