Azerbaijani State Oil Company SOCAR’s is collaborating with German energy provider Uniper to improve the efficiency of oil and gas production in Azerbaijan.

The Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, is 89.8 percent complete, Trend reports citing TAP AG consortium.

Holders of SOCAR Bonds, having been issued in 2016 and offering new investment opportunities for our citizens, made an income of $1,250,000 once again during the 12th interest payment for SOCAR Bonds organized on October 17, 2019, and total revenue of the bond holders raised up to $15 million.

The State Customs Committee of Azerbaijan has disclosed statistics on oil, gas and electricity exports.

Some 1.1 billion tons of oil and 713 billion cubic meters of gas have been produced from the offshore fields located in the Azerbaijani sector of the Caspian Sea, SOCAR’s Vice President for Field Development Yashar Latifov said on October 16.

Oil prices declined on Tuesday as the market continued to be concerned about weak global demand, Trend reports citing Xinhua.

The Annual Caspian Technical Conference held by the Society of Petroleum Engineers (SPE) has kicked off in Baku, Trend reports from the event.

Oil prices declined on Tuesday as the market continued to be concerned about weak global demand, Trend reports citing Xinhua.

Uzbekistan wants to increase export of oil and gas and chemical products through SOCAR Trading, which is among major world trading companies for oil and oil products.

From Oct. 15, production on the West Chirag platform has been suspended for about 15 days, Trend reports.

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $62.25 per barrel at Italian port of Augusta on Oct. 14, which is $1.67 less than the previous price, a source in Azerbaijan's oil and gas market told Trend on Oct. 15.

Oil prices fell on Tuesday, after heavy losses in the previous session, as two days of weak Chinese data added to worries about the top crude oil importer’s energy demand growth, Trend with reference to Reuters reports.

Average price of AZERI LT CIF extracted at Azerbaijan's Azeri-Chirag-Gunashli block of fields was $62.05 per barrel on October 7-11, or $0.5 more than the previous week, Trend reports on Oct. 12.

Over the past nine months, Azerbaijan has fulfilled its oil production obligations under OPEC+ agreement by 145 percent, the Ministry of Energy said in a statement published in its official website.

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $61.58 per barrel at Italian port of Augusta on Oct. 10, which is $0.44 less than the previous price, a source in Azerbaijan's oil and gas market told Trend on Oct. 11.

According to secondary sources, total OPEC-14 preliminary crude oil production averaged 28.49 mb/d in September, lower by 1,318 tb/d m-o-m, Trend reports citing the October Oil Market Report of the cartel.

Key agreements have been signed for full mobilization for construction of the Interconnector Greece-Bulgaria (IGB), which envisages transportation of Azerbaijani gas to Bulgaria, Trend reports citing ICGB AD, project company.

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $62.02 per barrel at Italian port of Augusta on Oct. 9, which is $1.38 more than the previous price, a source in Azerbaijan's oil and gas market told Trend on Oct. 10.

At energy exchanges, the price per barrel of Brent crude oil will increase over the next two trading days (including today) and may reach $62, according to the weekly summary of the Azerbaijani investment company InvestAZ, Trend reports.

Since its opening in June 2018, Trans-Anatolian Gas Pipeline (TANAP) has become an important route for the delivery of the Azerbaijani gas to Turkish and EU gas markets.

Oil prices jumped on Monday as supply issues took center stage following a week of sharp losses, while stocks and the dollar were little changed with eyes on the upcoming Sino-U.S. trade talks, Trend reports citing Reuters.

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $61.25 per barrel at Italian port of Augusta on Oct. 4, which is $1.09 more than the previous price, a source in Azerbaijan's oil and gas market told Trend on Oct. 7.

Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the U.S.-China trade war, reports Trend referring to Reuters.

The construction of the platform for the development of the Karabakh field in the Azerbaijani sector of the Caspian Sea is coming to an end.

Average price of AZERI LT CIF extracted at Azerbaijan's Azeri-Chirag-Gunashli block of fields was $61.55 per barrel on September 30-October 4, or $4.39 less than the previous week, Trend reports.