Category: Energy

The State Oil Company of Azerbaijan (SOCAR) and Maire Technimont Group have signed two Engineering, Procurement and Construction (EPC) contracts for new generation refining units, “QİA.AZ” informs, referring to SOCAR‘s website. SOCAR subsidiary Heydar Aliyev Oil Refinery has inked the contracts with Tecnimont S.p.A. and KT-Kinetics Technology S.p.A., the subsidiaries of Maire Tecnimont S.p.A., as part of the… Continue reading SOCAR, Maire Technimont Group ink 2 agreements

The Ministry of Energy held a meeting through video conferencing with the Japanese company TEPSCO to exchange views on developing a green energy concept for the liberated territories. According to QİA.AZ, the meeting focused on Japan’s experience in creating green energy zones and “smart cities”. The company made presentations on the “smart city” experience based on… Continue reading Ministry of Energy eyes creating green energy zones and “smart cities” in Karabakh

Greece’s Parliament ratified a bill authorizing the Gas Interconnector Greece-Bulgaria (IGB) natural gas pipeline and ratifying the foundation treaty of the EastMed Gas Forum (EMGF), “QİA.AZ” informs, referring to Xinhua. The bill was supported by the ruling conservative New Democracy party and two opposition parties, the Greek national news agency AMNA reported. Bulgaria has already ratified the bilateral… Continue reading Greek Parliament okays IGB construction

Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased by $0.45 (+0.80%), settling at $56.84 per barrel. The lowest price for Azeri Light was recorded on April 21, 2020 ($15.81), and the all-time high of $149.66 was fixed in July 2008. Oil prices fell on Thursday after data showed U.S. crude stocks… Continue reading Azeri Light crude nears $57

Motor Fuel Group (MFG), India’s largest gas station operator, has signed an agreement to buy seven existing stations and nine new industry sites (NTI) from energy giant BP, “QİA.AZ” states, citing petrolplaza. Six operating stations are located in Scotland and one in Surrey. The acquisition is part of a broader agreement that includes the supply of fuel… Continue reading BP sells part of its gas stations in UK

In 2020, the State Oil Company of Azerbaijan (SOCAR) exported 17.9 million tons of crude oil to foreign markets. The company also exports the profit share of the oil produced by consortiums of international companies operating in the country, which belongs to the state of Azerbaijan and SOCAR. A total of 12 billion cubic meters… Continue reading SOCAR exports 17.9 million tons of crude oil

Last year, the State Oil Company of Azerbaijan (SOCAR) produced 7.4 million tons of oil and 7.3 BCM of gas in the fields operated independently or as a major shareholder. “QİA.AZ” informs referring to SOCAR. It is noted that the upward trend in total gas production continued in Azerbaijan. Compared to 2019, gas production rose by about… Continue reading Azerbaijan increases gas production 4 %

Armenian invaders destroyed small hydropower plants in Azerbaijan’s liberated territories, particularly in Kalbajar, Lachin, and other regions, dismantled their sound equipment, burned or blew up what they could not carry. At present, none of these power plants is in good condition and they are all damaged, QİA.AZ states, citing Azerenergy OJSC. However, to achieve the goals set… Continue reading Lachin hydroelectric power station reconstructed