Tag:

Socar

BP acquires stake in North Ustyurt production sharing contract in Uzbekistan

BP has acquired a 40% stake in the North Ustyurt production sharing contract in Uzbekistan, expanding its upstream presence in Central Asia.

13 May 2026-14:37
Azerbaijan’s SOCAR buys 99.82% of Italiana Petroli

SOCAR announced today that it has completed the acquisition of 99.82% of Italiana Petroli (IP) shares from API Holding.

08 May 2026-20:13
EU removes sanctions on five Azerbaijani vessels - PHOTOS

The Council of the European Union has lifted sanctions on the ASCO-owned Zagatala vessel, as well as the Shusha, Karabakh, Khankendi and Zangezur vessels owned by a joint venture between ASCO and SOCAR. The decision, adopted on Thursday, removes the vessels from the EU sanctions list.

24 Apr 2026-11:20
Baku and Washington eye stronger energy partnership

Azerbaijan and the United States have reaffirmed their commitment to expanding energy cooperation, highlighting new opportunities for collaboration across the sector.

16 Apr 2026-09:35
High oil prices: pros and cons for Azerbaijan

Rising oil prices are traditionally seen as an unequivocal benefit for hydrocarbon-exporting countries. For Azerbaijan, whose economy largely depends on the energy sector, this factor indeed plays a key role. However, in modern conditions, the impact of oil prices on the country’s economy is far more complex and multifaceted than it may appear at first glance.

08 Apr 2026-09:30
SOCAR, Egyptian General Petroleum Corporation ink agreement

A delegation of Azerbaijan's state oil company SOCAR is participating in the 9th Egypt Energy Show (EGYPS 2026).

01 Apr 2026-14:50
Azerbaijan transports 4 million tons of Kazakhstani oil

The State Oil Company of Azerbaijan (SOCAR) and KazMunayGaz (KMG) have successfully advanced the project of transporting Kazakh oil through Azerbaijan, increasing the transit volume to 4 million tons, according to SOCAR.

17 Mar 2026-19:55
Azerbaijan launches search for new Caspian oil and gas reserves

The State Oil Company of the Republic of Azerbaijan (SOCAR) has launched a new phase of offshore exploration in Azerbaijan’s sector of the Caspian Sea with detailed seabed studies at the promising Goshadash structure. The project marks a preparatory stage ahead of a large-scale seismic survey that will use advanced Ocean Bottom Node (OBN) technology, underscoring Azerbaijan’s commitment to expanding its hydrocarbon resource base and maintaining its role as a key energy supplier to regional and global markets.

13 Mar 2026-13:40
SOCAR’s €3B Italian deal reshapes EU energy

24 Feb 2026-10:04
SOCAR signs Guba Caspian deal with Gran Tierra

Azerbaijan’s state oil company SOCAR has signed a Production Sharing Agreement (PSA) with Gran Tierra Energy Inc. covering an onshore prospective area in the country’s Guba–Caspian region.

19 Feb 2026-14:23