Azerbaijan’s Caspian Drilling Company Ltd and Kazakhstan’s KMG Drilling & Services have signed an agreement on trust management of a self-elevating floating drilling rig (SEFDR), Trend reports with reference to KazMunayGas Feb. 16.

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $66.16 per barrel at the Italian port of Augusta on Feb. 14, or $0.31 more than on Feb. 13, a source in Azerbaijan's oil and gas market told Trend on Feb. 15.

Russia proposes to consider intensifying the activity of Azerbaijan in the Gas Exporting Countries Forum (GECF) by raising the latter’s status to that of a member state, Anatoly Yanovsky, Russian Deputy Energy Minister, said in an exclusive interview with Trend.

Albanian Energy Regulatory Authority has approved the final certification of the Trans Adriatic Pipeline as an independent natural gas transmission operator, Trend reports citing Albanian media.

First shipments of BD-260 drilling rig, purchased by Canada’s Zenith Energy company for operations onshore Azerbaijan have entered the country, Trend reports citing a message from the company, which is the operator for development of Muradkhanli-Jafarli-Zardab block of oil fields.

Oil prices rallied on Friday, with Brent crude futures hitting fresh 2019 highs amid US sanctions against Venezuela and Iran and supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC), Trend reports citing Reuters.

The Convention on the Legal Status of the Caspian Sea will allow the energy cooperation of the Caspian states to reach a new, higher level, Deputy Energy Minister of Russia Anatoly Yanovsky said in an exclusive interview with Trend.

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $65.85 per barrel at the Italian port of Augusta on Feb. 13, or $1.11 more than on Feb. 12, a source in Azerbaijan's oil and gas market told Trend on Feb. 14.

Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, Trend reports citing the US Energy Information Administration (EIA).

The future of OPEC+ deal will become clear in April after the situation with sanctions against Iran is clarified, Lukoil President Vagit Alekperov told TASS on the sidelines of the Russian Investment Forum in Sochi, Trend reports referring to TASS.

The cooperation between Azerbaijan and France’s TOTAL company in the sphere of renewable energy will not compete with the company’s gas projects, a source in the country’s oil and gas market told Trend.

The Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, has received Project Finance International (PFI) award, Trend reports citing the Southern Gas Corridor CJSC.

The net impact – on energy use and on oil demand – of disruptive change in transport will come from a combination of automation, electrification, and shared mobility (ride-hailing, ride sharing, and car-sharing), Anupama Sen, Senior Research Fellow at Oxford Institute for Energy Studies, told Trend.

The Southern Gas Corridor, which envisages transportation of Azerbaijani gas to Europe, can also transport gas from Turkmenistan and Kazakhstan, Elshad Nasirov, vice president for marketing and investment at Azerbaijan’s state oil company SOCAR, told Italian journalists, Trend reports citing aboutenergy.com.

In 2018, about 34 million tonnes (255 million barrels) of crude oil were exported via the Baku-Tbilisi-Ceyhan main export oil pipeline, which was loaded into 327 tankers at the port of Ceyhan, Trend reports citing BP Azerbaijan.

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $64.74 per barrel at the Italian port of Augusta on Feb. 12, or $1.39 more than on Feb. 11, a source in Azerbaijan's oil and gas market told Trend on Feb. 13.

OPEC crude output was 930,000 barrels per day (b/d) lower in January at 30.83 million barrels per day (mb/d), a near four-year low, Trend reports citing the Oil Market Report released by the International Energy Agency (IEA).

The Greek Minister of Environment and Energy Giorgos Stathakis granted the Interconnector Greece-Bulgaria (IGB Project) Installation Permit on the territory of the Hellenic Republic, ICGB AD (project company) told Trend.

Ensuring transparency in Azerbaijan’s extractive industry is very important, Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov said, Trend reports Feb. 13.

SOCAR Absheron, a joint venture of Azerbaijan’s state oil company SOCAR and French Total hasn’t been liquidated, Public Relations Head at Azerbaijan’s state oil company SOCAR Ibrahim Ahmadov told Trend.

Oil prices climbed on Tuesday as latest data showed the Organization of the Petroleum Exporting Countries (OPEC) significantly curbed its crude oil production in January, indicating a tightening global supply, Trend reports citing Xinhua.

The overall impact of the US anti-OPEC bill can be huge, and is politically and not economically motivated, Cyril Widdershoven, a Middle East geopolitical specialist and energy analyst, a partner at Dutch risk consultancy VEROCY and SVP MEA-Risk, told Trend.

In order to strengthen the reliability and safety of Azerenerji OJSC, the energy operator of Azerbaijan, the second stage of the reconstruction of the SCADA Center for Dispatch Control of the Energy System, envisaging the creation of a digital control system, has started, the company told Trend.

SOCAR Absheron, a joint venture of Azerbaijan’s state oil company SOCAR and Total, has announced about its liquidation, Trend reports with reference to the newspaper of the Ministry of Taxes.

Azerbaijan’s Southern Gas Corridor closed joint stock company (CJSC) plans to invest around $900 million in the relevant segments of the Southern Gas Corridor in 2019, Azerbaijan’s state oil company SOCAR told Trend.