Four companies have signed a Memorandum on Understanding with the contractor for the Greece-Bulgarian Interconnector pipeline project.

The price of OPEC basket of fourteen crudes stood at $47.48 a barrel on July 20, compared with $46.85 the previous day, the cartel said in a message.

The Trans-Anatolian pipeline (TANAP) project, a natural gas pipeline from Azerbaijan to Europe, turned Turkey and Azerbaijan into the largest energy players in the region, according to Hakan Arydemir, Associate Professor of the International Relations Department of the Turkish University Dumlupınar.

The work for building the Trans Adriatic Pipeline (TAP) in Italy will continue in October and November 2017.

World oil prices are rising on July 21.

Azerbaijani state oil company SOCAR plans to implement a second petrochemical project in Turkey worth $3 billion until 2023.

The price of OPEC basket of fourteen crudes stood at $46.85 a barrel on July 19, compared with $46.45 the previous day, the cartel said in a message.

Two energy giants Azerbaijani state company SOCAR and Russian Gazprom are discussing the general directions of cooperation, which can also include natural gas supplies.

The price of OPEC basket of fourteen crudes stood at $46.45 a barrel on July 19, compared with $46.80 the previous day, the cartel said in a message.

On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil decreased $0.13 to stand at $45.97. Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) fell $0.13 to trade at $49.32.

The Trans-Caspian gas pipeline project is expected to be high on agenda during trilateral meeting of the leaders of Azerbaijan, Turkey and Turkmenistan due in Ashgabat before the end of the year.

Azerbaijani Cabinet of Minbisters exempted from the customs duty the import of gasoline 92 RON.

JSC Gazpromneft–Aero, the operator of aviation fuel business of Russia’s Gazprom Neft PJSC, and SOCAR Turkey Petrol Enerji Dagitim San Tic. A.S., which is one of the leaders on aviation fuel supplies in Turkey, have signed an agreement, the Russian company said in a message.

The price of OPEC basket of fourteen crudes stood at $46.80 a barrel on July 17, compared with $46.40 the previous Friday, the cartel said in a message.

World oil prices slightly decreased on July 18.

The Azerbaijani state company SOCAR has completed work on the reconstruction of platform #11 on the Gunashli field in the Caspian Sea.

Turkey has received $8 billion from such Azerbaijani projects as Baku-Tbilisi-Ceyhan (BTC) Pipeline, the Trans-Anatolian Natural Gas (TANAP) Pipeline and the Shah Deniz projects to date, said BP's Global Refining and Marketing CEO, Tufan Erginbilgic.

The quality of the gasoline output will improve significantly after the upgrade of oil refining industry of Azerbaijan.

The price of OPEC’s basket of 13 crudes stood at $46.40 per barrel on July 14, as compared to $45.66 per barrel on July 13, the cartel said in a message on its website.

On NYMEX (New York Mercantile Exchange) cost of the US Light crude oil increased $0.15 to stand at $46.07. Price of the Brent crude oil at the London ICE (Intercontinental Exchange Futures) rose $0.17 to trade at $49.39.

The implementation of the Trans Adriatic Pipeline (TAP) project will help Italy’s Puglia region to become one of the most advanced regions in Europe, said TAP Managing Director Luca Schieppati.

President of the Czech Senate Milan Stech has hailed Azerbaijan`s rich energy potential as he visited Azerbaijan`s pavilion at Astana EXPO-2017 exhibition.

The change in AI-92 gasoline prices will support Azerbaijan’s state oil company SOCAR in accelerating the modernization of the oil refining industry, SOCAR Vice President for Refining David Mammadov told AzTV channel.

Average price of AZERI LT CIF, extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields, was $48.22 per barrel on July 10-14 or $0.85 per barrel less than the previous week.

France's TOTAL company will perform first drilling in Azerbaijan's Absheron field soon, said France’s ambassador to Azerbaijan Aurelia Bouchez during the event dedicated to the French National Day, Bastille Day.