Tag Archives: oil

This week, the average prices of Azeri LT CIF, Azeri Light FOB Ceyhan, and Dated Brent crude oil increased, while the average price of Urals (EX NOVO) crude oil saw a decline, Azernews reports. The average price of Azeri Light crude oil, based on CIF from Azerbaijan’s Azeri-Chirag-Gunashli field, rose by $0.1 …

The total production of Azerbaijan’s Azeri-Chirag-Guneshli (ACG) block of fields has amounted to 114 million barrels during the three quarters of 2022, bp Azerbaijan told Azernews. From January to September, the total production from the block of fields amounted to 418,000 barrels per day. Of this, the Chirag field accounted …

Bulgaria will receive about 440 million cubic meters of gas from Azerbaijan in July-December 2022, Azerbaijani Ambassador to Bulgaria Huseyn Huseynov said in an interview with fakti.bg, Azernews reports. He recalled that there is a signed contract for the annual supply of 1 billion cubic meters of natural gas to Bulgaria …

Turkiye intends to extend the contracts on the purchase of natural gas from Russia, Azerbaijan, and Iran, Energy Minister Fatih Donmez has said, Azernews reports, citing TASS. “Our main suppliers are Russia, Azerbaijan, and Iran. We intend to extend our contracts with them for a new term. We are seeking …

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 …

Taiwan’s state refiner CPC Corp has received the country’s first crude cargo with certified carbon offset from Azerbaijan’s SOCAR Trading, Azernews reports, citing Reuters. “The cargo of about 1.05 million barrels of Azeri Light crude oil arrived in Taiwan on Sunday morning with cradle-to-gate greenhouse gas (GHG) emissions being offset …

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. …

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 …

Iran has no plans to leave the Organization of the Petroleum Exporting Countries despite being treated like an enemy by some fellow members, Oil Minister Bijan Zanganeh said in an interview published on Saturday, APA reports citing Reuters. “Iran has no plans to leave OPEC…and regrets that some members of OPEC have …

Canada’s Zenith Energy, which is the operator for development of Muradkhanli-Jafarli-Zardab block of onshore oil fields in Azerbaijan, has completed one offering in the United Kingdom and plans to complete another financing in Canada, Trend reports with reference to the company. The financings have been negotiated with a consortium of private and …