Oil & Gas

Country fulfils commitments under OPEC+ deal

The new OPEC+ deal, in which the countries of the cartel cut production by 800,000 barrels per day and non-OPEC countries by 400,000 per day, was reached on December 7, 2018. Following the meeting of the ministers of OPEC and non-OPEC in Vienna on July 2, the agreement on limiting oil production was extended until the end of the first quarter of 2020.
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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 $65.78 per barrel at Italian port of Augusta on July 9, which is $0.77 less than on July 8, a source in Azerbaijan's oil and gas market told Trend.
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Italian companies invited to local business

Italy is a reliable partner of Azerbaijan in Europe with whom bilateral beneficial cooperation exists in all areas. High-level reciprocal visits and intensive political dialogue contribute to the development of strategic partnership ties between the two countries.
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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 $65.46 per barrel at Italian port of Augusta on July 4, which is $0.39 more than on July 3, a source in Azerbaijan's oil and gas market told Trend.
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Commercial gas production increases markedly

Azerbaijan gradually takes an advantage in the world gas market against a background of rising demand for this raw material. Since the beginning of the 2000s, the prospects of natural gas production in Europe are declining and this creates great opportunities for Azerbaijani gas to expand presence in the European market.
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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 $64.72 per barrel at Italian port of Augusta on July 2, which is $2.95 less than on June 28, a source in Azerbaijan's oil and gas market told Trend.
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BP reveals investment volumes

BP, a British oil and gas company, has revealed the total volume of its and partners’ investments in the projects for the development of the Azeri-Chirag-Guneshli (ACG) and Shah-Deniz fields, the construction of the Baku-Tbilisi-Ceyhan oil pipeline (BTC) and the South Caucasus pipeline in 2014-2018.
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Deloitte: TAP to facilitate Albania’s objective of becoming gas hub in Western Balkans

The Trans Adriatic Pipeline (TAP), which envisages transportation of Azerbaijani gas to Europe, will facilitate Albania’s objective of becoming gas hub in Western Balkans, Deloitte, a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax, and related services, headquartered in the UK, said in its Global oil & gas tax newsletter, Trend reports.
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BP eyes to enter TANAP operating company

UK’s BP company, the operator of big energy projects in Azerbaijan, has made an application for participation in the operating company of the gas pipeline for the operation of the Trans-Anatolian Natural Gas Pipeline (TANAP), Trendreports referring to Turkish media.
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