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Found 1938 news

In January-February 2024, the income of the Azerbaijan Oil Fund from oil and gas projects decreased by 50%

caspianbarrel.org - 12:41 Mar 06, 2024

Revenues to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Guneshli block (ACG) and profitable gas and condensate from the “Shah Deniz” field in January-February 2024 amounted to $940.5 million. Based on the data of the Oil Fund, revenues from the ACG and “Shah Deniz” projects decreased by […]

Tags: January-February
Natural gas production from ACG will begin in the first quarter of 2025

caspianbarrel.org - 10:42 Mar 04, 2024

Natural gas production from deep-lying formations (deep-gas) at the Azeri-Chirag-Guneshli (ACG) field block will begin in the first quarter of 2025, Azerbaijani President Ilham Aliyev said. “The extraction of natural gas from ACG is a very promising project,” Aliyev said in his speech last Friday at the 10th ministerial meeting within the framework of the […]

Tags: Natural
LUKOIL has started construction of a solar power plant in Kazakhstan

caspianbarrel.org - 10:38 Mar 04, 2024

LUKOIL has started the construction of a solar power plant in Kazakhstan, laying a commemorative capsule in the Almaty region. The project will provide energy supply to the production facilities of LUKOIL Lubricants Central Asia LLP (a 100% subsidiary of PJSC LUKOIL) with environmentally friendly solar energy, the company reports. The design capacity of the […]

Tags: Lukoil Kazakhstan
Russia Developing 8 Oil Fields in Iran: Minister

caspianbarrel.org - 10:30 Mar 04, 2024

Speaking at a press conference after the 17th meeting of Iran-Russia Joint Economic Commission, held in Tehran on Wednesday, Owji said the contract with the Russian companies on the development of Iranian oil fields has helped the country increase its daily crude production by 200,000 barrels. The National Iranian Oil Company (NIOC) has been holding […]
Iran wants to become a regional energy hub

caspianbarrel.org - 10:20 Mar 04, 2024

Expressing Iran’s readiness to become a regional energy hub, President Ebrahim Raisi said the country could turn into a safe route for the transfer and distribution of natural gas among suppliers and consumers. Addressing the 7th summit of the Gas Exporting Countries Forum (GECF) in Algeria on Saturday, Raisi highlighted Iran’s huge reserves of natural […]

Tags: Iran
Azerbaijan plans to make maximum use of renewable energy in 10 years

caspianbarrel.org - 10:14 Mar 04, 2024

Azerbaijani President Ilham Aliyev said that Azerbaijan plans to use renewable energy sources to the maximum extent in ten years and reduce the consumption of natural gas inside the country. “I think this is part of our common green agenda and our sense of responsibility, because a country rich in fossil fuels should be at […]

Tags: Azerbaijan
Azerbaijani gas exports to exceed 24 bcm in 2024 – Minister

caspianbarrel.org - 10:07 Mar 04, 2024

Gas production in Azerbaijan in 2024 is planned at the level of 49 bcm, exports will exceed 24 bcm, Azerbaijani Energy Minister Parviz Shahbazov said on March 2 in Algeria at the summit of the Gas Exporting Countries Forum (GECF). Azerbaijan has had observer status in the Gas Exporting Countries Forum since November 2015. By […]
In 2023, Kazakhstan produced about 6.7 billion kWh of “green” energy

caspianbarrel.org - 09:55 Feb 28, 2024

Turkestan region is the leader in Kazakhstan in terms of the capacity of renewable energy sources, Vice Minister of Energy Alibek Zhamauov said at a meeting with residents of the region. According to him, there are 21 renewable energy facilities in the region with a total capacity of 278 MW, including 8 solar power plants […]

Tags: Kazakhstan
Shah Deniz 2 starts production from East North flank

caspianbarrel.org - 08:15 Feb 27, 2024

Shah Deniz 2 has safely achieved another major milestone by starting up production from the East North flank of the Shah Deniz field. Production from the East-North flank commenced on 13 February 2024 following the successful completion of all related offshore construction and commissioning works. The newly-started East North flank consists of five wells, two […]

Tags: Shah Deniz East North
Global EV sales up 69% y/y in Jan, down 26% vs Dec

caspianbarrel.org - 13:32 Feb 26, 2024

Global electric vehicle sales jumped 69% in January from a year earlier but were down 26% from December, reflecting subsidy cuts or tighter rules in Germany and France and seasonally weaker sales in China, market research firm Rho Motion said on Wednesday. Sales of fully-electric cars, or battery electric vehicles (BEVs), and plug-in hybrids […]

Tags: Global
Kazakh-Chinese Pipeline repaid loan ahead of schedule

caspianbarrel.org - 11:57 Feb 26, 2024

Kazakh-Chinese Pipeline LLP (50% participation of KazTransOil JSC and 50% participation of China National Oil and Gas Exploration and Development Corporation) repaid the loan of Industrial and Commercial Bank of China (ICBC) in the amount of $540 million ahead of schedule, the KazTransOil press service reports. In 2004-2008, to finance the construction of the Atasu-Alashankou […]
In 2023, Azerbaijan increased the volume of natural gas imports by 2.29 times

caspianbarrel.org - 11:46 Feb 26, 2024

By the end of 2023, Azerbaijan imported 2 332 254 040 cubic meters of gas (in 2022 – 1 016 423 600 cubic meters), special bulletin of the State Statistics Committee of the Republic of Azerbaijan. According to the report, Azerbaijan paid $361 997 490 for the import of this volume of natural gas (in […]

Tags: Azerbaijan
In 2023, Azerbaijan exported energy resources worth more than €18.8 billion to EU markets (EuroStat)

caspianbarrel.org - 21:03 Feb 20, 2024
Turkmenistan to Showcase Energy Potential at Paris Investment Forum

caspianbarrel.org - 20:56 Feb 20, 2024

Organized by “Türkmengaz” (Turkmen Gas) and “Türkmennebit” (Turkmen Oil) state corporations in collaboration with Turkmen Forum and British company GaffneyCline, the forum aims to present Turkmenistan’s resource potential and investment opportunities in the global energy transition. Turkmenistan, home to the vast Galkynysh gas field and favorable conditions for solar and wind energy, actively embraces the […]

Tags: Turkmenistan
In 2023, the EU paid 6.2 billion euros for the import of Azerbaijani gas

caspianbarrel.org - 20:34 Feb 16, 2024

In 2023, the countries of the European Union (EU) imported record volumes of natural gas from Azerbaijan – about 492.9 thousand terajoules, the monthly report of the statistical office of the European Union (Eurostat). According to Eurostat data, Azerbaijani gas supplies to the EU increased by 2.5% compared to 2022. The cost of gas imported […]

Tags: Azerbaijani
Aliyev: Azerbaijan will continue to expand the geography of gas exports

caspianbarrel.org - 20:27 Feb 16, 2024

Azerbaijani President Ilham Aliyev said that the country will continue to expand the geography of gas exports, including to Europe. “We currently have a gas supply contract with eight countries. But the need for our gas is great, especially in the EU area. In the future, our export geography will expand, naturally, in the European […]
Transportation of transit oil via BTC (million tons)

caspianbarrel.org - 19:13 Feb 15, 2024
Commercial gas production in Azerbaijan (bcm)

caspianbarrel.org - 19:12 Feb 15, 2024
Oil production in Azerbaijan (million tons)

caspianbarrel.org - 19:12 Feb 15, 2024
In 2023, condensate production at “Shah Deniz” field decreased by 2.8%

caspianbarrel.org - 11:57 Feb 14, 2024

BP-Azerbaijan produced 26 bcm of gas from the “Shah Deniz” field in the Azerbaijani sector of the Caspian Sea in 2023, by 4% higher than in 2022. About 35 million barrels of condensate (over 4 million tons) were also produced from the “Shah Deniz” field in 2023, by 2.8% lower than in 2022, a report […]

Tags: Shah Deniz

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