News

Recoverable reserves within major oil project in Azerbaijan significantly increase

Volumes of recoverable oil reserves at the "Azeri-Chirag-Guneshli" oil and gas fields' block in the Azerbaijani sector of the Caspian Sea have increased by 76 percent.

Oklahoma State Senate recognizes Khojaly massacre

The Senate of the State of Oklahoma has adopted a resolution recognizing the Khojaly massacre at its first session.

Fitch Assigns SOCAR's USD Notes Expected Senior Unsecured "BBB-(EXP)" Rating

Fitch Ratings has assigned State Oil Company of the Azerbaijan Republic's (SOCAR) proposed USD denominated senior unsecured notes an expected foreign currency senior unsecured rating of 'BBB-(EXP)', the agency's press release says on Monday.

Azerbaijani oil prices for February 11-15

On February 11-15, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $120.67 per barrel or $0.87 per barrel more than the previous week.

Azerbaijani legislation to be adapted according to European Convention on Cybercrime's requirements

Azerbaijani legislation is being adapted in accordance with the requirements of the European Convention on Cybercrime, chairman of the Public Association "Azerbaijani legal reform center", member of the Bar Anar Baghirov told media.

Azerkosmos to oversee transfer of Azerspace satellite

By February 15 the first Azerbaijani satellite Azerspace/Africasat-1 will reach its orbit, president of Azerkosmos Rashad Nabiyev said at a news conference on Tuesday

Oil prices descend in world market

Khazar Islands commences construction of first connecting bridge

Avesta concern has today held a ground-breaking ceremony for a first connecting bridge as part of construction of the Khazar Islands residential complex.

US Azerbaijanis launch petition on White House website

Azerbaijanis living in US have launched a petition for recognition the war crime of the Khojaly Massacre and its victims by President Barack Obama administration on the White House website.

Azerbaijani oil prices for January 28 - February 1

On Jan.28-Feb.1, the average price on AZERI LT, exported from Azerbaijan via the Ceyhan, Batumi and Supsa ports to Italian Augusta port, was $118 per barrel or $2.1 per barrel more than the previous week.

SOCAR, WB sign agreement on associated gas flaring reduction

State Oil Company of Azerbaijan (SOCAR) and the World Bank (WB) signed an administrative agreement on the fourth phase of cooperation between the company and the Global Gas Flaring Reduction Partnership (GGFR).

SOCAR VP elucidates final investment decision on Shah Deniz Stage 2

A final investment decision on the Shah Deniz Stage 2 project is expected to be made by October, 2013, Vice-President of the State Oil Company of Azerbaijan (SOCAR) on marketing and investments Elshad Nasirov said in interview to New Europe.

Shahdag welcomes its first tourists

The Shahdag winter and summer tourism complex already attracts foreign tourists wishing to enjoy the winter days in Azerbaijan.

SOFAZ brings ton of gold to Baku

Additional 1 ton of gold (32 150 troy ounces) purchased by the State Oil Fund of the Republic of Azerbaijan (SOFAZ) in compliance with the rules set forth by the LBMA was imported to Azerbaijan by the UK's Brinks Global Services on February 1, 2013 and temporarily stored in the vaults of the Central Bank of the Republic of Azerbaijan, SOFAZ said today.

Caspian countries important oil and gas events for week