Edition:
United Kingdom

Nailia Bagirova

Azerbaijan targets petrochemicals in push to reduce reliance on oil and gas

06 Aug 2019

* Expects $2 bln in 2019 non-oil exports, up from $1.7 bln in 2018

UPDATE 1-Azeri SOCAR says net profit fell to $706 million in 2018

04 Jun 2019

BAKU, June 4 Azeri state energy company SOCAR said on Tuesday its net profit fell to 1.2 billion manats ($706 million) in 2018 from 2.1 billion manats a year earlier, while operating profit rose to 3.6 billion manats from 2.5 billion.

Azerbaijan's SOCAR plans IPO of Turkish subsidiary in 2021 - official

31 May 2019

BAKU Azerbaijan's state energy company SOCAR plans to list its Turkish subsidiary on the London, Hong Kong and Istanbul stock exchanges in 2021, a SOCAR official said.

Azerbaijan to import 110,000 T of petrol in Oct due to refinery maintenance

23 May 2019

BAKU, May 23 Azerbaijan's only oil refinery plans to import 110,000 tonnes of A-92 petrol in October while it halts production for a month for routine maintenance, state energy company SOCAR's vice president told Reuters on Thursday.

BP, SOCAR sign deal to build new Azeri oil exploration platform

19 Apr 2019

BAKU Oil major BP and Azerbaijan's state energy company SOCAR signed an agreement on Friday to build a new exploration platform for the South Caucasus nation's three major oilfields, BP-Azerbaijan said in a statement.

Fitch sees Brent crude at $62.5/bbl in 2020 as economic woes bite

05 Apr 2019

* Fitch sees oil prices falling in 2020 to $62.5 from $65 in 2019

Venezuela suspends oil exports to India: Azeri energy ministry

19 Mar 2019

BAKU Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela's oil minister.

UPDATE 1-Venezuela suspends oil exports to India - Azeri energy ministry

19 Mar 2019

BAKU, March 19 Venezuela has suspended its oil exports to India and views Russia and China as its main export destinations, the Azeri energy ministry said on Tuesday, citing Venezuela's oil minister.

OPEC scraps April meeting but keeps oil cuts in place

18 Mar 2019

BAKU Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. | Video

Saudi signals OPEC may need to extend oil cuts until end-2019

17 Mar 2019

BAKU Saudi Arabia said on Sunday OPEC's job in rebalancing the oil market was far from done as global inventories were still rising despite harsh U.S. sanctions on Iran and Venezuela, signalling it may need to expand output cuts into the second half of 2019.

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