Oil & Gas

SOCAR may begin construction of new oil refining unit in 2020

Next year, a decision will be made on the construction of a new unit for the primary processing of oil (ELOU-AVT) at the Heydar Aliyev Baku Oil Refinery, David Mammadov, SOCAR vice-president for refining, told reporters on the sidelines of a conference on “Oil Refining and Petrochemistry of the Caspian Sea and Central Asia - Conjuncture, Projects Implementation, Technical Solutions” in Baku, Trend reports.
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Azerbaijani oil prices up

The price of the AZERI LT CIF oil produced at Azeri-Chirag-Gunashli block of oil and gas fields amounted to $76.94 per barrel at Italian port of Augusta on April 23, which is $2.44 more than on April 18, a source in Azerbaijan's oil and gas market told Trend on April 24.
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Azerbaijan exports about 8,000 tons of LPG over 3 months

Azerbaijan exported about 8,000 tons of liquefied petroleum gas (LPG) and about 200,000 tons of diesel produced at the Heydar Aliyev Baku Oil Refinery during the first quarter of 2019, David Mammadov, Vice President for Oil and Gas Transportation and Gas Facilities of the Azerbaijani Sate Oil Company SOCAR, told reporters at the “Oil Refining and Petrochemistry of the Caspian Sea and Central Asia -
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Gasoline consumption up in Azerbaijan [UPDATE]

In the 1Q2019, about 350,000 tons of gasoline were produced in Azerbaijan, David Mammadov, SOCAR vice-president for refining, told reporters on the sidelines of a conference on “Oil Refining and Petrochemistry of the Caspian Sea and Central Asia - Conjuncture, Projects Implementation, Technical Solutions” in Baku, Trend reports.
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Bitumen plant at Heydar Aliyev Baku Oil Refinery to reach full production capacity soon

The new bitumen plant at the Heydar Aliyev Baku Oil Refinery will reach its full production capacity during the second quarter of 2019, Baladadash Zeynalov, Head of Process-Engineering Division at the Heydar Aliyev Baku Oil Refinery, told during a conference on “Oil Refining and Petrochemistry of the Caspian Sea and Central Asia - Conjuncture, Projects Implementation, Technical Solutions” in Baku, Trend reports.
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TAP project completed by 87 pct

The $40 billion worth Southern Gas Corridor project envisages the transportation of 10 billion cubic meters of Azerbaijani gas to Turkey and Europe. The pipeline consists of four segments: Shah Deniz 2, Expansion of South Caucasus Pipeline (Baku-Tbilisi-Erzurum), the Trans-Anatolian Pipeline (TANAP) and Trans Adriatic Pipeline (TAP).
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LNG prices to go down in 2019

The first quarter of 2019 will mark the 2019 nadir for liquefied natural gas (LNG) prices, but an ongoing ramp up of supply in Russia and the US should constrain future price gains, Trend reports citing UK-based Capital Economics Consulting company.
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Gas processing plant to be built in Azerbaijan

The 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals is underway in Baku. Over 300 participants, including representatives of the biggest oil and gas companies, refineries, trading companies, ports, terminals, banks and analytical agencies attend the event annually.
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Expert: Azerbaijan can bring gas production to 50 bcm a year

Approximately by 2025 gas production in Azerbaijan can reach 50 billion cubic meters per year, Gulmira Rzayeva, Research Associate at the Oxford Institute for Energy Studies (OIES), director of Eurasia Analytics, said at the 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals in Baku, Trend reports.
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