Oil & Gas

OPEC oil price up

OPEC oil basket’s price stood at $59.98 per barrel on November 16, which is $0.19 more than on Nov. 15, the cartel told Trend on November 17.
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BP hopes to sign new contract with SOCAR before end-2017

BP hopes to sign a contract with Azerbaijan’s state oil company SOCAR to explore prospective sites of the block D230 in the North Absheron Basin in the Azerbaijani sector of the Caspian Sea until the end of 2017, Gary Jones, BP regional president for Azerbaijan, Georgia and Turkey (AGT), told reporters in Baku on November 15.
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SGC to strengthen EU-Azerbaijan co-op, says minister

Implementation of the Southern Gas Corridor (SGC) project that can help the European Union increase its energy security and diversification of supplies, will ensure the strengthening of cooperation not only between Azerbaijan and the EU, but also multilateral cooperation in a broader geography, said Azerbaijani Energy Minister Parviz Shahbazov.
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SOCAR Trading closes Canada office

Azerbaijani state oil company SOCAR’s North American trading division will close its Calgary office in Canada and move all commercial and support functions to Houston in the next three to four months, Reuters reported citing a letter from the company.
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