Azerbaijan | Oil & Gas Feed

As Azerbaijan now prepares to host COP29, several challenges lie ahead. We had a look at country's current energy mix, the renewable energy potential and the main obstacles to remove for a successful green transition.

The European Bank for Reconstruction and Development (EBRD) is extending a loan of up to US$ 7.5 million (€6.9 million) in local currency to Bank Respublika, one of Azerbaijan’s leading commercial banks. The partner bank will on-lend the proceeds to small and medium-sized enterprises (SMEs). The loan aims to boost the competitiveness and green transition of […]

GL Group, the first privately owned group of energy companies in Azerbaijan, is making its first international strategic move, with its entry into the upstream natural gas business in Türkiye. This makes GL Group an international energy player, aligning with its strategy to become a regional mid-sized energy company. GL Group has acquired a 25% […]

European Union (EU) countries increased their gas imports from Azerbaijan by 5.5% in the period from January to July 2024, totaling 297,765 terajoules (TJ) compared to the same period last year. According to Eurostat, the value of gas supplied from Azerbaijan to EU countries during this period was €2.484 billion, a decrease of 35.5%. In […]

Currently, the internal market of Azerbaijan is still supplied with Euro-2 standard diesel fuel, the October report of the international agency “Argus”, which specializes in oil and petroleum product market analysis. It is noteworthy that in early June, at the Baku Oil Week exhibition, the State Oil Company of Azerbaijan (SOCAR) showcased that it had […]

    Minimum 5 years related field experience.  At least  5-8 years in equivalent  or level down management role.  Degree qualified/ University degree in technical disciplines   Production System Geonit manager for Azerbaijan, Kazakstand and  Turkmenistan: It is senior management position.   With recent changes in organization structure of SLB operations globally,   existing product lines […]

Gas from Azerbaijan could significantly enhance Europe’s energy security and by extension, Slovakia’s as well, said Minister Sakova.

Serbia's Minister of Mining and Energy announced that the country will have secure access to about one million cubic metres of gas from Azerbaijan this winter, enhancing Serbia's energy security.

Romania pledges continued support for Kazakhstan and Azerbaijan in their contributions to the EU’s energy security, Ana Cristina Tinca, State Secretary of the Ministry of Foreign Affairs of Romania, said in an exclusive interview with Trend. Kazakhstan and Azerbaijan as garants of EU energy security “With a trade volume of around $42 billion in 2023 and […]

Russia and Azerbaijan will jointly build oil tankers, Russian President Vladimir Putin announced on August 19 following talks with Azerbaijani president Ilham Aliyev in Baku. “The Russian United Shipbuilding Corporation, together with the Baku Shipyard, will begin producing modern river-sea class tankers for the transportation of oil products,” said the Russian leader. The use of […]

According to operational data for January - July 2024, Azerbaijan exported 7.5 billion cubic metres (bcm) of gas to Europe.

Energy cooperation between Serbia and Azerbaijan is essential for ensuring long-term natural gas supply security, stated Stefan Srbljanović, Serbia's State Secretary of the Ministry of Mining and Energy.

In January-June 2024, the reserves of commercial natural gas in Azerbaijan amounted to 21 billion 870.9 mcm, taking into account the remaining reserves at the beginning of the year, the report of the State Statistics Committee of the Republic of Azerbaijan. According to the data, in the first half of the year, 27.5% of commercial […]

In January-June of this year, 2 million 726.68 thousand tons of gas condensate were produced in Azerbaijan, by 7.4% more than in the first half of last year. According to the State Statistics Committee of the Republic of Azerbaijan, 2 million 722.79 thousand tons accounted for the share of commercial condensate volumes, which means an […]

Slovenia and Azerbaijan can sign a contract for gas supplies in coming weeks, Minister of Environment, Climate, and Energy of Slovenia Bojan Kumer said in an exclusive interview with Trend, as he visited Baku. He noted that the purpose and the focus of the visit is twofold. “Firstly, it is about continuing a very promising dialogue […]

The first voyage of the tanker “Zangilan”, built at Baku Shipyard by order of Azerbaijan Caspian Shipping Company CJSC (ASCO), took place to the Turkmen port of Aladzha, Trend reports via ASCO. According to information, the new tanker delivered a batch of Turkmen crude oil to the Sangachal seaport of Azerbaijan for further transit (via the Baku-Tbilisi-Ceyhan […]

 The State Oil Company of Azerbaijan (SOCAR) and Slovenia’s largest natural gas supply company, Geoplin, have signed a memorandum of understanding to expand cooperation in the field of gas supplies, Trend reports via SOCAR. The document was signed following negotiations between SOCAR President Rovshan Najaf and Slovenian Minister of Environment, Climate, and Energy Bojan Kumer. The meeting […]

Bulgaria and Azerbaijan will enhance their energy cooperation to ensure security and diversification of natural gas supplies. Bulgaria confirmed its interest in receiving additional quantities of gas from Azerbaijan based on long-term contracts at the sixth meeting of the Intergovernmental Commission for Economic Cooperation in Baku. Bulgaria reiterated its support of the future expansion of […]

Moody’s International rating agency has confirmed the rating of senior unsecured ratings in foreign currency of Southern Gas Corridor CJSC (SGC) at Ba1 and changed the outlook from stable to positive. According to Moody’s, Azerbaijan benefits from higher EU demand for its gas, reflecting the bloc’s efforts to diversify sources and supply routes in order […]

A consortium led by the Canadian company Brookfield Asset Management Ltd., which also includes the State Oil Fund of Azerbaijan (SOFAZ), is investing in the international educational company GEMS Education with headquarters in Dubai. Prior to that, it became known that Brookfield Asset Management plans to invest about $ 2 billion in an educational company. […]