SOCAR Oil Production Fall by 2.5%

SOCAR Oil Production Fall by 2.5% The State Oil Company of Azerbaijan produced 5,5 million ton oil in the first 8 months in 2012. The statement came from sources in SOCAR. Production made 706,6 thousand ton in January, 660,9 thousand ton in February, 660,9 thousand tin in March, 684,3 thousand ton in April, 700,9 thousand ton in May, 678,5 thousand ton in June, 700,9 thousand ton in July, 701,8 thousand ton in August. Oil production has dropped by... Read More

Significant Decline in Azeri Oil Export

Significant Decline in Azeri Oil Export SOCAR oil export dropped 11,4 % in the firth four months in 2012 The State Oil Company of Azerbaijan (SOCAR) exported 7,016,000 tonnes of oil via the Baku-Tbillisi-Ceyhan (BTC) pipeline in January-April 2012.  SOCAR reports that the export made 1,909,000 tonnes in January, 1,359,000 tonnes in February, 1,901,000 tonnes in March, 1,847,000 tonnes in April. Compared to the same period of the last year, the... Read More

Fitch Ratings assesses SOCAR’s ratings

Fitch Ratings assesses SOCAR’s ratings Fitch Ratings has affirmed State Oil Company of the Azerbaijan Republic’s (SOCAR) Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB-‘ and Short-term foreign currency IDR at ‘F3’ and senior unsecured rating at ‘BBB-‘. The Outlook on the Long-term IDR is Stable, Fitch press release says. SOCAR’s ratings incorporate state support as it is wholly... Read More

Will TANAP replace Nabucco project?

Will TANAP replace Nabucco project? Azerbaijan-Turkish Trans Anatolian Pipeline (TANAP) with initial capacity of 16 billion cubic meters, can be expanded and replace the Nabucco project to transport natural gas only to the EU, Anadolu agency quotes the European Commission’s report sent to member countries’ partners on the energy sector. The European Commission said the EU needs a pipeline to transport Azerbaijani gas to Europe through... Read More