Azerbaijan

SOCAR Turkiye Enerji plans to acquire a network of 600-700 filling stations in Turkey - head of the company

SOCAR Turkiye Enerji (the Turkish subsidiary of SOCAR) plans to acquire a company in Turkey with a network of 600-700  filling stations, the head of the company Zaur Gakhramanov said.

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Fitch makes forecast on SOCAR’s capital investments and confirms its rating at BB+

Capital investments of SOCAR for 2018-2021 are estimated at 13 billion manats ($7.6 billion at the current rate), the Fitch agency notes.

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SOCAR Turkiye Enerji estimates construction of new petrochemical complex in Turkey at $1.8 bln

SOCAR Turkiye Enerji (Turkish subsidiary of SOCAR) has estimated cost of construction of a new petrochemical complex in Turkey at $1.8 billion, said head of the company Zaur Gakhramanov.

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Drilling of first production well at Absheron field in Caspian Sea to be completed in Q3 2019 - SOCAR head

Drilling of the first production well ABD-001 at the Absheron field in the Azerbaijani sector of the Caspian Sea will be completed in the third quarter of 2019, Rovnag Abdullayev, president of SOCA

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SOCAR expects production of first products at Karabakh filed in Caspian Sea in 2020-2021

Extraction of the first hydrocarbon raw materials from the Karabakh field in the Azerbaijani sector of the Caspian Sea is expected in 2020-2021, president of SOCAR Rovnag Abdullayev reports.

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From 2019, SOCAR ceases exporting propylene and reduces export of ethylene

In 2019, SOCAR doesn’t plan to export propylene, the company reports.

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Azerbaijan and Romania to develop projects for joint participation in geological exploration and production of gas

Azerbaijani state-owned company SOCAR has expressed its interest in cooperation with Romanian company Romgaz in the field of gas geological exploration and production.

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BP to drill 6 exploration wells in Azerbaijan in 2019-2020

In 2019-2020, BP plans to drill six new exploration wells in Azerbaijan. Four wells will be drilled in 2019, two – in 2020.

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In January 2019, oil exports from Russia to far abroad grew by 3.4%

In January 2019, Russian oil exports to the non-CIS countries amounted to 20.49 million tons, which is by 3.4% more than in 2018, this is reported in the operational summary of the Central Dispatch

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SOCAR increases oil exports via Baku-Novorossiysk by 7% to 84.96 thousand tons in January.

In January 2019 SOCAR exported 84.96 thousand tons of oil through the Baku-Novorossiysk pipeline. The company increased exports by 7%.

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