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Tag Archives: SOCAR

Azerbaijan’s SOCAR, Romania’s Romgaz ink MoU on cooperation


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 …

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Official: SOCAR to double gas exports via SGC by 2027

Rovshan Najaf

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. …

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Kazakhstan to sell crude oil through Azerbaijani pipeline


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 …

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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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