SOCAR is a partner of the Formula 1 races, which will once again be held in Baku on April 26-28, 2019, Trend reports.

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.

The 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals is underway in Baku on April 22, 2019, Trend reports.

Until today, Azerbaijan has supplied 506 million tons of oil to foreign markets, Khoshbakht Yusifzadeh, First Vice-President of SOCAR, said at the 4th SOCAR International Caspian and Central Asia Downstream Forum on Trading, Logistics, Refining and Petrochemicals in Baku, Trendreports.

Presently, the oil prices are at a satisfactory level, while the level of compliance with the December OPEC deal + is increasing monthly, Azerbaijani Minister of Energy Parviz Shahbazov says, Trend reports on April 22.

As of today, 104.2 billion cubic meters of gas and 25.1 million tons of condensate were produced at the Shah Deniz field in Azerbaijan, Energy Minister of Azerbaijan Parviz Shahbazov said, Trend reports April 22.

Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Guneshli (ACG) field in the Azerbaijani sector of the Caspian Sea, has been sanctioned.

Turan Drilling & Engineering Company LLC, which is a joint venture of Azerbaijan’s SOCAR AQS and KCA Deutag international oilfield services company, will commence drilling operations in early May.

Azerbaijan expects to fully prepare the Trans-Anatolian Natural Gas Pipeline (TANAP) in June 2019 for the start of test gas supplies to Europe, Trend reports with reference to Azerbaijan’s state oil company SOCAR.

On the sidelines of his official visit to Poland, Foreign Minister Elmar Mammadyarov met with the President of the Polish Oil & Gas Company (PGNIG) Piotr Woźniak, Trend reports April 16 referring to Azerbaijani Foreign Ministry.