The Turkish Competition Council has given permission to SOCAR and BP to establish a joint venture that will operate in the petrochemical sector, local media reported on July 22.

Azerbaijan will develop strategy for the development of small hydropower plants, taking into account the needs of power generation, water potential and water shortages in the country, Energy Minister said addressing a meeting held on July 7.

BP has increased its estimates of Azerbaijan’s confirmed gas reserves for the end of 2019 in its recent statistical review of world energy reports.

With the COVID-19 pandemic having continued during the second quarter of 2020, BP now sees the prospect of the pandemic having an enduring impact on the global economy, with the potential for weaker demand for energy for a sustained period,Trend reports citing the company.

Azerbaijan’s state oil Company SOCAR wills set up a petrochemical enterprise in Turkey, Turkish media reported on April 30.

The State Oil Company of Azerbaijan Republic (SOCAR) and the British company BP have postponed the final investment decision on the construction of the Mercury petrochemical complex in the Aliaga district of Izmir (Western city of Turkey) until the end of 2021, local media reported on April 10.

BP today announced that, following an in-depth review examining the alignment of the climate-related policies and activities of trade associations with BP’s positions, it will leave three US-based organisations – American Fuel and Petrochemical Manufacturers (AFPM), the Western States Petroleum Association (WSPA) and the Western Energy Alliance (WEA), Trend reports citing BP.

BP Azerbaijan will spend nine months on drilling work in the Shafag-Asiman offshore block, the company said in its annual report published recently.

BP plans to ramp up production at Azerbaijan’s Shah Deniz gas field and maintain stable output at the Azeri-Chirag-Guneshli (ACG) oilfields this year, a senior regional official at the British oil major said on Monday, Trend with reference to Reuters reports.

Azerbaijan’s State Oil Company (SOCAR) and British BP may sign a Production Sharing Agreement (PSA) for investment blocks in Uzbekistan.