Total’s gas find raises hopes for Nabucco pipeline: Oil Price

Total’s gas find raises hopes for Nabucco pipeline: Oil Price The recent discovery by French energy giant Total of a major gas field in Azerbaijan’s sector of the Caspian Sea may soon allow the Nabucco natural gas pipeline, previously “relegated to the sphere of necromancy”, to become a reality, oil market news website Oil Price reported.   The Absheron structure, announced by Total last Friday, holds projected reserves of 350 billion cubic meters of gas and 45... Read More

Decline in Oil Sector in Azerbaijan

Decline in Oil Sector in Azerbaijan Oil production dropped 7,6 %, oil export decreased 27,1 % Azerbaijan’s oil production decreased 7.6 %  in the first eight months of 2011 compared to the same period of last year CESD sources at the State Statistic Committee mentioned. In January-August 2010, the resource-rich South Caucasus republic produced 34.3 million tons of oil and 11.3 billion cubic meters of gas. Meanwhile, sources in the State Oil Company (SOCAR) said that the company... Read More