Oil & Gas

Montenegro updates on co-op with SOCAR on IAP

Montenegro is in permanent communication with the officials of Azerbaijan and the representatives of the state oil company SOCAR on the implementation of the Ionian-Adriatic Pipeline (IAP) project, Economy Minister of Montenegro Dragica Sekulic said in an interview with Trend.
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EBRD approves major loan for TAP project

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a loan of 500 million euros for the Trans Adriatic Pipeline (TAP) project, which envisages transportation of gas from Azerbaijan to the EU countries, the EBRD said in a message.
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Azerbaijani oil prices down on July 3

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, amounted to $78.44 per barrel at the Italian port of Augusta on July 3, that is $0.79 less than on July 2, a source in Azerbaijan’s oil and gas market told Trend July 4.
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Crude prices up

World oil prices rise on July 3, investors are playing out news that the Libyan oil company NOC has declared force majeure in loading oil in two ports.
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Azerbaijani oil prices down on July 2

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, amounted to $79.23 per barrel at the Italian port of Augusta on July 2, that is $1.3 less than on June 29, a source in Azerbaijan’s oil and gas market told Trend July 3.
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What are optimal routes for Iranian gas export?

The main routes available for Iran’s gas export are either via Turkey (well connected to the European market and infrastructure) or via Azerbaijan through the Southern Gas Corridor, Cyril Widdershoven, a Middle East geopolitical specialist and energy analyst, a partner at Dutch risk consultancy VEROCY and SVP MEA-Risk, told Trend.
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Azerbaijani oil prices up on June 29

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Guneshli block of oil and gas fields, amounted to $80.53 per barrel at the Italian port of Augusta on June 29, that is $1.92 more than on June 28, a source in Azerbaijan’s oil and gas market told Trend June 30.
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