Exxon, Chevron seek to exit Azerbaijan’s oil after 25 years
Exxon Mobil ( XOM.N ) and Chevron ( CVX.N ) are seeking to sell their stakes in Azerbaijan’s largest oilfield, marking the retreat of the U.S. majors from the former Continue Reading
After Trump attack on Russia ties, Merkel eyes Azeri gas
Castigated by U.S. President Donald Trump as relying too much on Russian gas supplies, German Chancellor Angela Merkel heads to Azerbaijan this week to discuss the development of a southern Continue Reading
Azerbaijan discussing possible membership with OPEC: sources
The Organization of the Petroleum Exporting Countries and Azerbaijan are discussing deepening cooperation, including possible Azeri membership of OPEC, two sources familiar with the talks told Reuters on Monday. Azerbaijan, Continue Reading
Major contracts rolled out for offshore Azerbaijan
For at least $150 million, services company Subsea 7 will support BP operations off the coast of Azerbaijan in some of the largest oil and gas fields in the world. Continue Reading
Is This The World’s Most Critical Pipeline?
The Southern Gas Corridor, connecting Azerbaijan to the world’s largest economic block, is one of the most important infrastructure pipeline projects worldwide, bringing Caspian gas into Europe. Europe wants to Continue Reading
Azerbaijan would support further OPEC balancing actions
Azerbaijan is ready to get in line behind any extraordinary effort needed to stabilize the market if a plan develops, its energy minister said Friday. Members of the Organization of Continue Reading
BP sees strong profits in renewed Azeri oil contract
A deal by BP to extend oil production-sharing in Azerbaijan by 25 years is profitable at current oil prices even after paying a signing bonus and cutting foreign companies’ stake Continue Reading
Billions more barrels of oil possible from Azerbaijan
A contract for the largest oil complex offshore Azerbaijan could lead to billions of dollars in investments and billions more in oil barrels, analysis finds. British energy company BP led Continue Reading
Exclusive: BP’s stake in giant Azeri oilfields set to fall: sources
BP’s stake in Azerbaijan’s vast oilfields is expected to shrink under a new production-sharing agreement with state energy company SOCAR, two industry sources familiar with the talks told Reuters. Azerbaijan Continue Reading
Blast hits Azeri gas pipeline near Baku: Ministry
An explosion has occurred at a gas pipeline near Azerbaijan’s capital Baku early on Monday, the country’s Emergencies Ministry said, the second such incident in a week. An explosion hit Continue Reading