Turkish Petroleum Corporation (TPAO) will increase its stake in the project on development of Azerbaijan's giant Shah Deniz field in the Caspian Sea to 19 percent, Azernews reported on May 30.
The Petkim Petrochemical Complex and SOCAR Turkey Enerji A.S. have signed a contract for a period of 20 years on purchase of raw materials from the Star refinery of Azerbaijan's state energy company SOCAR, Azernews reported on May 28.
The budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the period of January-March, 2014 reached 3,005.0 million manats, while budget expenditures constituted 2,443.3 million manats, according to a message from the SOFAZ, Trend reported on May 20.
Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of ONGC, for the year ended 31st March 2014 were considered and approved by the Board in its meeting held on May 20, ONGC Videsh’s press office has said.
The implementation of the Trans-Caspian gas pipeline will be a good opportunity to diversify the energy supply to EU countries, Malena Mard, head of EU Delegation to Azerbaijan told journalists on May 19, Trend has reported.
TANAP has awarded WorleyParsons a significant five year contract for the supply of Engineering, Procurement and Construction Management (EPCM) services for the 1,841km Trans Anatolian Natural Gas Pipeline Project which has an estimated total project cost of USD 11.7 bill
Azerbaijan's state energy company SOCAR has started exploratory drilling at the Agburun-Deniz offshore structure in the Azerbaijani sector of the Caspian Sea, Azernews reported on May 16.
Kazakhstan may have to look for new ways to export oil to Europe if sanctions were introduced against Russia, Kazakh Oil and Gas Minister Uzakbay Karabalin has said. Kazakhstan would be affected by sanctions against Russia, he said.
The Trans-Adriatic (TAP) and Trans-Anatolian (TANAP) gas pipeline projects fall into the low-risk category, SOCAR Rovnag Abdullayev has said in his recent interview with The Business Year magazine, Azernews reported on May 16.
Once the oil production at Kazakhstan's Kashagan offshore field increases, some portion of this oil will be transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline, Azerbaijan's Energy Minister, Natig Aliyev said, Trend reported on May 15.