Oil & Gas

Oil prices decline

World oil prices fell on Monday within 2.5 percent, continuing to win back news of a possible softening of the terms of the OPEC + deal and U.S. statistics on drilling rigs.
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Over 90% of SOCAR's revenues generated by business outside country

More than 90 percent of the revenues of the Azerbaijani state-owned SOCAR company are brought in by business outside the country, the Deputy Chief of Public Relations and Events Department of SOCAR Company Ibrahim Ahmadov said at a press-conference, dedicated to the 25th Anniversary International Caspian Oil & Gas Exhibition and Conference in Baku May 24.
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Azerbaijani oil prices up

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, amounted to $81.32 per barrel at the Italian port of Augusta on May 22, that is $1.42 more than on May 21, a source on Azerbaijan’s oil and gas market told Trend May 23.
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