The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $73.75 per barrel at the Italian port of Augusta on Aug. 13, or $0.33 less than on Aug. 10, a source in Azerbaijan's oil and gas market told Trend Aug. 14.

Trans-Anatolian Natural Gas Pipeline (TANAP) will strengthen Turkey’s energy security and contribute to the diversification of energy sources, Minister of Energy and Natural Resources of Turkey Alparslan Bayraktar said, Turkish media reported.

Brent prices will significantly rise by late 2018. Fitch Solutions (part of Fitch Group) said in its report obtained by Trend.

The exclusion of the Southern Gas Corridor from the new anti-Iran sanctions once again demonstrates the importance of the project, Vugar Rahimzade, member of the Political Council of the New Azerbaijan Party, editor-in-chief of Iki Sahil newspaper told Trend.

OPEC countries have increased oil production by 40,700 barrels per day, to 32.32 million barrels in July 2018 thanks to the contributions of such countries as Kuwait, Nigeria, UAE and Iraq, the OPEC’s August report said.

According to secondary sources, total OPEC-15 crude oil production averaged 32.32 million barrels per day in July, an increase of 41,000 barrels per day over the previous month, the cartel said in its Oil Market Report.

Azerbaijan-Georgia-Romania Interconnector (AGRI) remains an important project for Romania and for the European Union (EU), a source in Romanian government told Trend.

SOCAR Trading, trading house of Azerbaijan’s state oil company SOCAR, intends to become one of the biggest suppliers of liquefied natural gas (LNG) to Pakistan in the future, SOCAR Trading told Trend.

Average price of AZERI LT CIF, extracted at Azerbaijan's Azeri-Chirag-Gunashli block of fields, was $74.24 per barrel on Aug. 6-10 or $0.76 less than the previous week.

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $74,08 per barrel at the Italian port of Augusta on Aug. 10, or $0.66 more than on Aug. 9, a source in Azerbaijan's oil and gas market told Trend Aug. 11.

The Southern Gas Corridor project, which envisages transportation of Azerbaijani gas to Europe, got sanctions waiver from the US as the latter is assessing it as a strategic project for its allies, Cyril Widdershoven, a Middle East geopolitical specialist and energy analyst, a partner at Dutch risk consultancy VEROCY and SVP MEA-Risk, told Trend.

Ministry of Foreign Affairs of Turkmenistan has held a meeting with the Secretary General of the Chamber of Commerce and Industry of the Economic Cooperation Organization (ECO) Adem Kula, the ministry said in a statement Aug. 11.

The consortium for construction of the Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, has secured temporary removal of 446 olive trees in Italy, Lisa Givert, TAP Head of Communications, told Trend.

Net profit of Petkim Petrochemical Holding AS, where the Azerbaijani state oil company SOCAR owns a controlling stake, amounted to 356 million Turkish liras in the second quarter of this year, the Turkish media wrote referring to a statement released by Petkim.

Compliance with the Vienna Agreement, envisaging oil output cuts has eased to 97 percent in July as output cuts were relaxed, the International Energy Agency (IEA) said in its August Oil Market Report.

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $73.42 per barrel at the Italian port of Augusta on Aug. 9, or $0.23 more than on Aug. 8, a source in Azerbaijan's oil and gas market told Trend Aug. 10.

Azerbaijan presented data on its daily oil production in July 2018 to the OPEC Joint Technical Committee as part of the Vienna Agreement, the Azerbaijani Energy Ministry told Trend on August 10.

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $73.19 per barrel at the Italian port of Augusta on Aug. 8, or $2.16 less than on Aug. 7, a source in Azerbaijan's oil and gas market told Trend.

The German giant EWE AG company is preparing to withdraw from the energy market of Turkey and to sell its share in gas distribution companies Bursagaz AS and Kayserigaz AS.

SOCAR Trading SA, a trading house of Azerbaijan's state oil company SOCAR, supplied more than 12 cargoes of liquefied natural gas (LNG) for a gas power plant in Malta, SOCAR Trading SA told Trend.

The trading arm of Azerbaijan’s state oil company SOCAR promoted Dario Striano to head its global physical crude trading, Reuters reported citing the sources familiar with the matter.

Oil prices kept rising on Tuesday as traders continued to assess the impacts of the United States' sanctions against Iran, Xinhua reported.

SOCAR-AQS started work on drilling the next well at Western Absheron field, the company told Trend.

The Southern Gas Corridor has received a waiver from US sanctions against Iran's energy customers, S&P Global Platts reported.

Oil prices rose on Tuesday with revived U.S. sanctions against major crude exporter Iran expected to tighten global supply, Reuters reports.