Oil & Gas

Azerbaijani oil prices down

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $64.32 per barrel at Italian port of Augusta on June 3, which is $2.77 less than on May 31, a source in Azerbaijan's oil and gas market told Trend.
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SOCAR, Tekfen to build new carbamide plant

The state oil company SOCAR made decisive steps by establishment of new plants for the production of polymer products and carbamide fertilizers in Azerbaijan, thus opening up a very good prospect for Azerbaijan to increase the inflow of foreign currency into the country.
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STAR refinery to purchase Siberian, Iraqi oil

STAR oil refinery of Azerbaijan’s state oil company SOCAR in Turkey has reached its full processing capacity of 10 million tonnes of oil per year in May and is expected to process 7 million tonnes of crude by the end of 2019, Zaur Gahramanov, head of SOCAR Turkey Energy, told Reuters, Trend reports.
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SOCAR increases drilling volume

In 2018, Azerbaijan’s state oil company SOCAR increased the volume of drilling works, and the total footage drilled exceeded 160,000 meters, said Yashar Latifov, vice-president for field development of Azerbaijan’s state oil company SOCAR, Trend reports.
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