The Contract of the Century has bolstered global energy security immeasurably, said Mark W. Menezes, Under Secretary of Energy, United States Department of Energy, Trend reports.

The Contract of the Century will be a basis for future agreements moving Azerbaijan’s energy resources to the West, said former US Ambassador to Azerbaijan Robert Cekuta, Trend reports.

Southern Gas Corridor will help Europe to diversify its gas supplies, said Mark W. Menezes, Under Secretary of Energy, United States Department of Energy, Trend reports.

Azerbaijan’s State Oil Company (SOCAR) and Uzbekneftegaz JSC will create a joint venture to carry out trading operations in Europe and other countries, Uzbekneftegaz informed on its website.

Oil prices retreated on Thursday after gaining more than 2% in the previous session on bullish U.S. crude inventory data, as a fresh spat over Hong Kong fueled concerns of a further delay in any U.S.-China trade deal, Trend reports citing Reuters.

Azerbaijan’s State Oil Company (SOCAR) and Norway's Equinor will start drilling an appraisal well in the Karabakh field with estimated oil reserves of 100 million tons.

Gas export from Azerbaijan’s Shah Deniz field, one of the largest gas developments in the world, amounted to 8 billion 376.9 million cubic meters in January-October 2019, which is 26.4 percent higher than that in the same period of 2018, the State Statistical Committee told local media.

Zaur Jalilov has been appointed as the new director of LUKOIL Azerbaijan closed joint-stock company, Russia’s LUKOIL company told Trend.

Joining the Trans-Caspian gas pipeline project will significantly increase Azerbaijan's influence in the region, a leading Russian analyst at the Center for Political Information Ivan Pyatibratov told Trend.

Excavation work has started in the first two kilometers of the Interconnector Greece-Bulgaria (IGB) route, Azerbaijan’s ambassador to Bulgaria Nargiz Gurbanova told Trend.

U.S. oil prices fell for the second straight day on Tuesday amid market jitters over limited progress between China and the United States on rolling back trade tariffs, while rising U.S. inventories also jangled nerves, Trend with reference to Reuters reports.

Trans Caspian Pipeline project, which envisages transportation of gas from Turkmenistan to Europe through Azerbaijan, would benefit both of these countries, Richard Taylor, oil and gas analyst at Fitch Solutions Macro Research (a unit of Fitch Group), told Trend.

All participants are very interested in the Trans-Caspian Gas Pipeline project, which provides for the transportation of Turkmen gas to Europe through Azerbaijan, despite that the project has been under discussion for many years, well-known Russian expert, economist Stanislav Pritchin told Trend.

State Oil Company of Azerbaijan (SOCAR) expects 19 billion cubic meters of gas from the Shah Deniz field in 2019, while production will increase to 24 billion cubic meters in 2021, SOCAR’s Vice President for field development Yashar Latifov has said.

It is planned to open the Trans Anatolian Natural Gas Pipeline (TANAP) on Nov.30, said Turkey’s Minister of Energy and Natural Resources Fatih Donmez.

Average price of AZERI LT CIF extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields was $67.81 per barrel on Nov. 11-15, or 3 cents more than the previous week, Trend reports.

Netherlands sees the completion of Southern Gas Corridor in 2020 as an important milestone, Netherlands Ministry of Foreign Affairs told Trend.

Azerbaijan’s declared oil exports amounted to 26.85 million tons worth $12.96 billion in January-October 2019, the State Customs Committee has told local media.

Thirteen employees of Azerbaijan’s Ustay company appealed to the management in connection with dizziness and nausea, Ibrahim Ahmadov, deputy head of the Public Relations and Event Management Department of the Azerbaijani state oil company SOCAR, told Trend on November 16.

The Trans Caspian Pipeline project, which envisages transportation of Turkmenistan’s gas to Europe, is very easily done technically, Ariel Cohen, senior fellow at the Atlantic Council and founder of the International Market Analysis LLC, told Trend.

Trans Caspian Pipeline is key a route for Turkmen gas to reach Europe, Francis Perrin, Senior Fellow at the Policy Center for the New South (PCNS, Rabat) and at the French Institute for International and Strategic Affairs (IRIS, Paris), told Trend.

The Trans Adriatic Pipeline (TAP) project, which envisages transportation of Azerbaijani gas to Europe, is 90.5 percent complete as of late October 2019, Trend reports citing TAP AG consortium.

Oil prices rose on Friday as OPEC’s outlook for oil demand next year fueled hopes that the producer group and its associates will keep a lid on supply when they meet to discuss policy on output next month, Trend with reference to Reuters reports.

Interconnector Greece-Bulgaria will deliver Azerbaijani gas to the European markets starting from 2020.

According to secondary sources, total OPEC-14 preliminary crude oil production averaged 29.65 million barrels per day (mb/d) in October, higher by 943,000 barrels per day month-on-month, Trend reports citing OPEC’s Oil Market Report.