Tag Archives: SOCAR

Azerbaijan’s State Oil Company (SOCAR) and Romanian Romgaz have signed a memorandum of understanding on cooperation, Azernews reports. The document was signed by SOCAR Vice President Elshad Nasirov and Romgaz S.N.G.N Deputy Chief Officer Aristotel Jude during the visit of Economy Minister Mikayil Jabbarov, Energy Minister Parviz Shahbazov and SOCAR …

Azerbaijan’s State Oil Company (SOCAR) is supposed to at least double gas exports via the Southern Gas Corridor (SGC) by 2027, the company’s President Rovshan Najaf said during the 2nd Azerbaijan-Turkiye Energy Forum, Azernews reports per Trend. “Therefore, we are discussing plans on expanding the TAP and TANAP pipeline capacities. …

Uzbekneftegaz specialists have paid a visit to Azerbaijan’s State Oil Company (SOCAR) to exchange experience on the application of new technologies for wells’ workover and study the company’s experience in the implementation of projects on increasing hydrocarbon production under risk service conditions, Azernews reports per Uzbek media sources. The visit …

The State Oil Company of Azerbaijan Republic (SOCAR) is going to conduct oil exploration activities in Batman, Turkiye, Yeni Shafak newspaper reports. The exploration will be carried out under a deal agreed at the Petroleum Reserve Summit in Istanbul, which marks a major step forward for Turkish-Azerbaijani cooperation in the …

Kazakhstan is expected to sell some of its crude oil through Azerbaijan’s biggest oil pipeline from September, Azernrews reports. According to a direct source, Kazakhstan’s state oil firm Kazmunaigaz (KMG) was in advanced discussions with the trading arm of Azerbaijan’s state firm SOCAR to allow 1.5 million tonnes per year …

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 …

“The trade between Turkmenistan and Azerbaijan has increased five times since 2020,” said Vice President of the State Oil Company of Azerbaijan (SOCAR) Elshad Nasirov at the International Oil and Gas Forum, held in Ashgabat. Nasirov noted that Azerbaijan is interested in cooperation with the Caspian region countries. He said …

Romanian Energy Minister Virgil Popescu has said that his country supports underwater electricity cable project with Azerbaijan and Georgia. “We are open to possible collaboration between Romania, Azerbaijan and Georgia to build together an underwater cable for the transportation of electricity underneath the Black Sea,” he wrote on his official …

“Azerbaijan’s state energy firm SOCAR aims to achieve net zero carbon emissions in early 2022 in extracting oil and gas at its own sites,” SOCAR Vice President on environmental affairs Rafiga Huseynzade told Reuters. “We have been working on that from 2010 within the framework of the World Bank’s Global …