News Archive

29 November 2017

SOCAR President receives Deputy Oil Minister of Iran

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On November 29, SOCAR President Rovnag Abdullayev held a meeting with Iranian delegation led by Amir Hossein Zamaninia, Deputy Oil Minister for International Affairs. SOCAR President Mr. Abdullayev mentioned that Azerbaijan and Iran had recently extended relations in various spheres of economy. According to him, Azerbaijan and Iran succeeded in intensifying dialogue in the development of cooperation between the oil and gas companies of the two countries, and reciprocal visits played an important role in this process. Touching upon SOCAR's relations with Iranian companies, Mr. Abdullayev spoke about existing partnership relations and noted their expansion opportunities.

Deputy Oil Minister of Iran Mr. Zamaninia spoke about the great potential for deepening relations between the two countries in the economic sphere, including the energy sector and expressed confidence that cooperation in the oil and gas industry would contribute to the development of neighboring countries. According to him, planned cooperation projects will boost oil and gas production in Iran in the near future. Mr. Zamaninia stressed that they were interested in SOCAR's participation in these joint projects as an international company with extensive experience in global projects. During the meeting, the sides discussed the expansion of cooperation between Azerbaijan and Iran in the oil and gas sector, including the Persian Gulf and the Caspian Sea. The sides emphasised that there were vast opportunities for expanding cooperation.

Iran's NICO currently participates in the Shah Deniz (10%) and South Caucasus Pipeline (10%) projects. At the same time, a trilateral cooperation protocol was signed between the Department of Nanotechnologies of SOCAR, Research Institute of Petroleum Industry of the National Iranian Oil Company and the Iranian Offshore Oil Company in 2015.

17 November 2017

SOCAR hosts Uzbek Deputy Prime Minister and Chairman of Uzbekneftegaz Board of Directors Alisher Sultanov

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On November 17, a meeting was held between SOCAR President Rovnag Abdullayev and Uzbek Deputy Prime Minister, Chairman of Uzbekneftegaz Board of Directors Alisher Sultanov. Welcoming the guest, Mr. Abdullayev congratulated him on his appointment as Deputy Prime Minister of Uzbekistan and wished him greater success in his new position.

In turn, Uzbek Deputy Prime Minister and Chairman of Uzbekneftegaz Board of Directors Alisher Sultanov expressed satisfaction with his visit to Azerbaijan again and noted that Uzbekistan was interested in full use of existing opportunities for development of bilateral relations with fraternal Azerbaijan in all spheres. He spoke about the meeting with Azerbaijani President Ilham Aliyev and said that the Azerbaijani head of state underlined importance of increasing efforts to boost cooperation with Uzbekistan in the fields of energy, transport, trade, and other spheres. Stressing that SOCAR is a native company for Uzbekneftegaz, A. Sultanov described the ongoing successful cooperation between the two companies as an example of genuine brotherhood.

Mentioning that Azerbaijan plays a leading role in the projects of regional and global importance, SOCAR President said that the experience and achievements gained within these projects would be useful for the development of cooperation with Uzbekneftegaz and consist a solid foundation for future projects. He noted that great prospects were available for further deepening of cooperation with Uzbekneftegaz, implementation of joint oil and gas projects, as well as that experts of the two companies had thoroughly studied these prospects. R. Abdullayev expressed confidence that specific activities in the directions focused within the framework of the Memorandum between the companies would be launched soon.

The Chairman of Uzbekneftegaz Board of Directors said that establishment of working groups on the mentioned directions was a significant progress in deepening cooperation and stressed that future joint projects would serve the wellbeing of the people of Azerbaijan and Uzbekistan.

A detailed discussion and exchange of views on the issues of mutual interest were held at the meeting.

13 November 2017

BTC transported 2.2 mln tons of Azerbaijani oil in October

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2 mln 268 thousand 672 tons of Azerbaijani oil were transported via BTC main export pipeline in October 2017. 22 mln 595 thousand 463 tons of oil were transported via this pipeline in January-October. In general, 344 mln 133 thousand 525 tons of oil have been pumped to BTC since the start of pipeline exploitation until November 1, 2017.

In addition, overall 545 thousand 988 tons of Turkmen oil were pumped via BTC in October 2017.

13 November 2017

Above 1.9 mln tons of Azerbaijani oil delivered from Ceyhan Port to world market in October 2017

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1 mln 895 thousand 356 tons of Azerbaijani oil were delivered from Ceyhan Port to the world market in October 2017. (1 mln 201 thousand 814 tons of this volume were the oil of the State Oil Fund of the Republic of Azerbaijan). 21 mln 036 thousand 310 tons of oil were exported from Ceyhan in January-October this year. In general, 340 mln 870 thousand 909 tons of Azerbaijani oil have been exported from Ceyhan Port to the world market since the start of BTC exploitation until November 1, 2017.

13 November 2017

SOCAR top executives attend Abu Dhabi CEO Roundtable

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Rovnag Abdullayev: “Our joining the world’s leading companies here today indicates that SOCAR has become an international high-profile company.” The world’s leading energy chief executives attended the CEO Roundtable in Abu Dhabi on November 12, 2017 hosted by Abu Dhabi National Oil Company to discuss the global issues such as the new energy landscape and supply and demand dynamics.

Among the top executives of the world’s 26 leading oil and gas companies, SOCAR’s delegation led by the Company’s President Rovnag Abdullayev joined the roundtable, which focused on topical issues such as impact of modern technologies, new energy resources in the world. They assessed the effect of these processes on the global energy markets and supply and demand dynamics and exchanged opinions on deeper realisation of global challenges.

After the roundtable, SOCAR President held bilateral and extensive meetings with the top executives of BP, Total, Statoil, Petronas, Saudi Aramco to discuss the issues of current cooperation and search for new opportunities for its further expansion.

SOCAR President Rovnag Abdullayev later commented on the organisation of the “CEO Roundtable” as the following: “Exchange of views among the leading companies is of vital importance for better managing the fast-paced processes in the global energy sector. Therefore, we highly appreciate the organisation of such discussions.

The processes we are discussing here have an effect on all countries, including Azerbaijan. By virtue of emerging technologies, the role of alternative energy sources is increasing. Oil and gas products will continue to play an important role not only as a source of fuel but also in the production of various plastic products, fertilisers, and food products in the future. Hence, the strategy of SOCAR to invest in more oil and gas refining projects in the past years proves its value when it comes to the reality of the present and the future.

Our joining the world’s leading companies here today indicates that SOCAR has become an international high-profile company. Under the instruction of President Ilham Aliyev, SOCAR plays an important role both in Azerbaijan and at a global scale and using this position will continue to contribute to the country's revenues and coordination of global issues.”

It should be noted that a special event titled “CEO Roundtable” was organised within the world's most influential Oil and Gas exhibition and conference (ADIPEC) held in Abu Dhabi. The event, held on November 13-16, hosts more than 2,000 exhibiting companies from 135 countries around the world.

10 November 2017

SOCAR’s budget payments for October 2017

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SOCAR paid AZN 136 million 952 thousand to the State Budget for October of the current year (AZN 11 million 607 thousand or 9,3% more than the same period of 2016). In general, for January-October 2017, SOCAR transferred AZN 1 billion 302 million 630 thousand (AZN 152 million 440 thousand or 13,3% more than the same period of 2016) to the State Budget.

Besides, the Company’s payment to the State Social Protection Fund amounted AZN 13 million 070 thousand in October, which is AZN 863 thousand or 7,1% more than the same period of 2016. As a whole, the January-October payments to State Social Protection Fund totalled AZN 125 million 496 thousand (AZN 6 million 126 thousand or 5,1% more than the same period of 2016).

3 November 2017

Drilling works for October 2017

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SOCAR (excluding Joint Ventures and Operating Companies) conducted 11284 meters of drilling works in October 2017. Of this amount, development drilling made up 10343 metres, and exploration drilling - 941 metres. In general, during January-October 2017, SOCAR (excluding Joint Ventures and Operating Companies) carried out 114909 meters of drilling works including 106593 meters of development drilling and 8316 - exploration drilling.



Drilling of 10 wells was completed in October, and 66 new wells were put into operation after the construction since the start of the year. Two wells were drilled on Oil Rocks field, two - West Absheron field, 2 - Pirallahy, and the rest on Bulla-daniz, Garadagh, Seadan, and Darvin bankasy fields.



1 November 2017

Crude oil export for October 2017

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In October 2017, SOCAR has exported 84 975 tons from Novorossiysk port, 261 397 tons from Supsa, and 1 201 812 tons from Ceyhan port. Generally, 1 242 679 tons of crude oil was exported from Novorossiysk port, 2 013 209 tons from Supsa, and 13 955 348 tons from Ceyhan port in January-October 2017. The indices of crude oil exported by SOCAR reflect the volumes of crude oil belonging to the both State of Azerbaijan and the Company.

1 November 2017

Crude oil prices in October 2017

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In October 2017, price for Brent crude oil in the world market was $57,36 per barrel, Urals oil - $56,73, and BTC FOB Ceyhan crude oil - $57,91.

1 November 2017

Oil products export for October 2017

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In October 2017, SOCAR Marketing and Economic Operations Department exported 51 129 tons of diesel fuel, 9 527 tons of aircraft gasoline, 2 439 tons of high-pressure polyethylene, 786 tons of absolute isopropyl alcohol, 3 321 tons of pyrolytic oil tar, and 2 134 tons of propylene. In January-October 2017, generally 452 288 tons of diesel fuel, 43 110 tons of aircraft gasoline, 236 tons of stove oil, 58 704 tons of high-pressure polyethylene, 9 894 tons of absolute isopropyl alcohol, 50 306 tons of pyrolytic oil tar, 31 384 tons of propylene, and 21 616 tons of butylene butadiene were exported. For October 2017, the average prices for oil products in the world market were as follows: ethyl petrol-(per ton) $560,49, aircraft gasoline-$543,08, diesel fuel-$505,58, black oil containing 1% sulphur-$330,91, high-pressure polyethylene - $1235, butylene butadiene - $652,86, pyrolytic oil tar - $560,49, propylene - €860, and absolute isopropyl alcohol - €1282,50.