Ankara will host an energy and transportation cooperation forum between Turkey, Russia and Azerbaijan on Aug. 21, which will be held at the initiative of the Turkish Institute for Russian Studies (RUSEN), Trend reports citing Turkish media.

Azerbaijan has increased the volume of oil, gas and oil products exports to Georgia in the first seven months of this year.

The gas to be extracted from Absheron gas field, located in the Azerbaijani sector of the Caspian Sea, is expected to be supplied to local consumers in the near future.

Canada’s Zenith Energy company, which is the operator for development of Muradkhanli-Jafarli-Zardab block of onshore oil fields in Azerbaijan, successfully continues its operations in the country.

Crude oil prices held mostly steady on Tuesday on optimism that U.S.-China trade tensions would ease and on hopes that major economies would enact stimulus measures to counter a possible global economic slowdown that could affect oil demand, reports Trend referring to Reuters.

Shah Deniz 2, one of the largest gas developments in the world, will help increase European energy security by bringing Caspian gas resources to markets in Europe for the very first time.

The global GDP growth for 2019 is now forecast at 3.1 percent, Trend reports citing OPEC’s Monthly Oil Market Report for August 2019.

Average price of AZERI LT CIF extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields was $61.72 per barrel on August 12-16, or $0.83 more than the previous week, Trend reports on Aug. 17.

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $61.91 per barrel at Italian port of Augusta on Aug. 16, which is $0.47 more than on Aug. 15, a source in Azerbaijan's oil and gas market told Trend on Aug. 17.

OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply, reports Trend referring to Reuters.

According to secondary sources, total OPEC-14 preliminary crude oil production averaged 29.61 million barrels per day in July, lower by 246,000 barrels per day month-on-month, Trend reports citing OPEC Monthly Oil Market Report – August 2019.

The natural gas that is going to be transported by Trans-Adriatic gas pipeline (TAP), will contribute to decarbonisation, its effects will be felt in South-East Europe, and Western Balkans primarily, said representative of TAP for Greece, Katerina Papaleksandri.

Crude oil prices rose on Friday following two days of declines, buoyed after data showing an increase in retail sales in the U.S. helped dampen concerns about a recession in the world’s biggest economy, reports Trend referring to Reuters.

SOCAR Energy Ukraine has commissioned a new gas filling station in the country. Thus, the state oil company of Azerbaijan SOCAR has increased the number of its gas stations in Ukraine to 60.

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $61.81 per barrel at Italian port of Augusta on Aug. 14, which is $1.65 more than on Aug. 13, a source in Azerbaijan's oil and gas market told Trend on Aug. 15.

Azerbaijan’s state oil company SOCAR has opened a new gas filling station in Kyiv, Ukraine, SOCAR Energy Ukraine told Trend.

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

Oil prices steadied on Thursday, following sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed, reports Trend referring to Reuters.

The volume of shipment at SOCAR Terminal stood at 280,276.634 TEU (twenty-foot equivalent unit) in 2018, Trend reports citing Azerbaijan’s state oil company SOCAR.

Azerbaijan’s Azerenergy OJSC repairs the Mingachevir Hydroelectric Power station along with the Azerbaijan Thermal Power Plant within the Rehabilitation Program, Trend reports referring to Azerenergy.

Last year, the new OPEC+ deal was concluded, in which the countries of the cartel cut production by 800,000 barrels per day, and non-OPEC countries - by 400,000 per day. Following the meeting of the ministers of OPEC and non-OPEC in Vienna this July, the agreement on limiting oil production was extended until the end of the first quarter of 2020.

Chernomortransneft JSC has received a positive conclusion from the state environmental review of the Federal Service for Supervision of Natural Resources in the North Caucasus Federal District (Russian Federation) for the reconstruction of the Grozny-Baku main oil pipeline in Dagestan, Trend reports referring to the company.

Oil prices rose on Monday despite worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as crude, Trend reports citing Reuters.

The Turkish Stream project in the future may be connected to the Trans Adriatic Pipeline (TAP), Senior Analyst for the oil and gas sector at Russia’s Sberbank Andrei Gromadin told Trend.

Average price of AZERI LT CIF extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields was $60.89 per barrel on August 5-9, or $0.14 more than the previous week, Trend reports on Aug. 12.