Azerbaijan | News

• Azerbaijan opens facilities for new Akinci drone

  Defense News - 16:55 Feb 12, 2024
  

  Azerbaijan has opened a training facility and hanger for a new Akinci drone, confirming the country bought the Turkish-made combat system.

  Tags: Azerbaijan Akinci

• Gas consumption decreased in Azerbaijan in 2023

  caspianbarrel.org - 19:32 Feb 11, 2024
  

  The State Oil Company of Azerbaijan (SOCAR) has announced the volumes of gas consumption in the country based on the results of last year. According to SOCAR, in 2023, gas consumption in Azerbaijan amounted to 13 billion 439 million 700.969 thousand cubic meters. It should be noted that in 2022, Azerbaijan consumed 13 billion 533 […]

  Tags: Azerbaijan

• Equinor expects to close the deal to sell assets to SOCAR in Azerbaijan in 2024

  caspianbarrel.org - 10:38 Feb 07, 2024
  

  Norwegian Equinor plans to close the deal to sell SOCAR (State Oil Company of Azerbaijan) its assets in Azerbaijan in 2024. “The transaction is expected to close during 2024,” Equinor said in its fourth-quarter 2023 report. In the fourth quarter, Equinor recognised net impairments of USD 328 million, mainly related to the announced sale of […]

  Tags: Azerbaijan Equinor SOCAR

• In January, Azerbaijan’s profit from the ACG project decreased by 38%

  caspianbarrel.org - 07:15 Feb 07, 2024
  

  In January 2024, revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli block (ACG)  amounted to $387 million 645 thousand. According to SOFAZ, this is $237 million 429 thousand, or  by 38% lower than in January ($625 million 74 thousand) last year. The Oil Fund of […]

  Tags: Azerbaijan January

• Condensate production increased in Azerbaijan in 2023

  caspianbarrel.org - 22:39 Feb 06, 2024
  

  Condensate accounted for 17.3% of the total oil production in the country, the remaining 82.7% or 24 million 892.89 thousand tons was crude oil (a decline of 10%), the State Committee on Statistics of the Republic of Azerbaijan. By the end of 2023, oil production with gas condensate in Azerbaijan amounted to 30 million 189.59 […]

  Tags: Azerbaijan Condensate

• Azerbaijan buoys up citizens to benefit from renewable energy sources

  caspianbarrel.org - 17:08 Feb 04, 2024
  

  Azerbaijan’s legal framework for the development of renewable energy sources (RES) has created incentives for the country’s citizens to independently use solar panels or other RES sources to generate “green” energy, the surplus of which can go to the power grid and provide income to the producer of such electricity, the head of the project […]

  Tags: Azerbaijan

• Swap deliveries of Turkmen gas to Azerbaijan have stopped

  caspianbarrel.org - 12:15 Jan 08, 2024
  

  Turkmenistan has suspended gas supplies to Azerbaijan via Iran under the swap scheme since January 1, 2024. According to the pro-government Trend news agency, Azerbaijan...

  Tags: Azerbaijan

• Equinor exits Azerbaijan, divesting all its remaining assets to SOCAR

  CEENERGYNEWS - 13:05 Jan 02, 2024
  

  Petroleum refining company Equinor and Azerbaijan's state oil company SOCAR have signed an agreement whereby Equinor will divest all its remaining assets in Azerbaijan to SOCAR.

  Tags: Azerbaijan Equinor SOCAR

• In November, the volume of commercial gas in Azerbaijan increased by 21%

  caspianbarrel.org - 11:05 Dec 18, 2023
  

  In January-November 2023, oil production with gas condensate in Azerbaijan  amounted to 27 million 695.4 thousand tons, by 7.4% lower than in the same period...

  Tags: Azerbaijan

• Azerbaijan sends third batch of energy aid to Ukraine

  ukrinform.net - 17:00 Dec 12, 2023
  

  Azerbaijan sent 20 trucks of humanitarian aid aimed at restoring Ukraine’s power system after Russian strikes, which is the third batch of such assistance.

  Tags: Azerbaijan Ukraine

• In 4 years, Azerbaijan plans to put into operation green energy with a capacity of 1.6 GW

  caspianbarrel.org - 11:33 Dec 06, 2023
  

  Azerbaijan, together with international energy companies, plans to create about 19 GW of capacity for the production and export of “green” energy, hydrogen, and “green”...

  Tags: Azerbaijan

• Zelensky thanks Azerbaijan for support to Ukrainian energy system

  ukrinform.net - 19:00 Nov 09, 2023
  

  President of Ukraine Volodymyr Zelensky thanked Azerbaijan for the assistance provided to the Ukrainian energy system.

  Tags: Azerbaijan Ukrainian

• Azerbaijan’s strategic foreign exchange reserves have reached $66.4 billion

  caspianbarrel.org - 06:46 Nov 03, 2023
  

  Azerbaijan’s strategic foreign exchange reserves are estimated at $66.4 billion, Chairman of the Central Bank (CBA) Taleh Kazimov said. “Strategic foreign exchange reserves for 10...

  Tags: Azerbaijan

• The EU has increased gas imports from Azerbaijan by 5.9% in 8 months

  caspianbarrel.org - 11:22 Nov 01, 2023
  

  In January-August 2023,  the countries of the European Union (EU) increased gas imports from Azerbaijan by 5.9% compared to the same period last year, to...

  Tags: Azerbaijan

• Azerbaijan sends new batch of humanitarian aid to Ukraine

  ukrinform.net - 00:23 Oct 31, 2023
  

  On Monday, the first batch of electrical equipment provided by Azerbaijan to provide humanitarian aid to the people of Ukraine was shipped from the territory of the Sumgait Technologies Park.

  Tags: Azerbaijan Ukraine

• Kazakhstan is considering the possibility of supplying clean electricity to Azerbaijan

  caspianbarrel.org - 09:48 Oct 30, 2023
  

  Kazakhstan is considering the possibility of supplying clean electricity from the Caspian region to Azerbaijan, the country’s Energy minister Almasadam Satkaliyev said. This project involves...

  Tags: Azerbaijan Kazakhstan

• Oil Fund of Azerbaijan assets will reach almost $59 billion by 2028

  caspianbarrel.org - 09:55 Oct 20, 2023
  

  The assets of the State Oil Fund of Azerbaijan (SOFAZ) may amount to $58.6 billion by 2028 with an average oil price in 2023-2027 at...

  Tags: Azerbaijan

• The Ministry of Energy of Azerbaijan has announced a tender for the Black Sea Energy project

  caspianbarrel.org - 09:34 Oct 17, 2023
  

  The Ministry of Energy of Azerbaijan has announced a tender for the development of a feasibility study within the framework of the project to create...

  Tags: Azerbaijan Energy The Ministry

• Over nine months of 2023, the assets of the Oil Fund of Azerbaijan increased by $6.5 billion

  caspianbarrel.org - 10:32 Oct 16, 2023
  

  The assets of the State Oil Fund of Azerbaijan (SOFAZ) increased by 13% to $55 billion 524 million in January-September 2023. According to the information...

  Tags: Azerbaijan

• Azerbaijan exported 19 million tons of oil in January-September

  caspianbarrel.org - 10:11 Oct 16, 2023
  

  Exports of oil and condensate from Azerbaijan in January-September 2023, according to operational data from the country’s Ministry of Energy, amounted to 19 million tons....

  Tags: Azerbaijan January-September

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