#oil
Latest news and interesting information about oil.
At least 4 new power plants to be launched by 2026
Azerbaijan to launch 4 new power plants by 2026: 245 MW solar, 2x25 MW and 230 MW wind.
Deputy Minister: Azerbaijan has huge solar energy potential
Azerbaijan's huge solar energy potential revealed by deputy minister. New data on rooftop PV systems.
Oil prices rise: Brent hits $97
Oil prices climb as Middle East conflict intensifies: Brent at $97.05, WTI at $94.81.
Cuba ambassador: US sanctions economic war
Cuba ambassador Ismara Vargas Walter says US sanctions are a full-scale economic war, causing blackouts and paralysis across the island.
Azerbaijani oil prices drop
Azerbaijani oil price fell by $2.9 to $101.68 per barrel. Latest update on "Azeri Light" crude oil.
Third Day of Caspian Oil & Gas Exhibition
The third day of the 31st International Caspian Oil and Gas Exhibition in Baku features panel discussions with President Ilham Aliyev.
Severe Consequences of Hormuz Strait Closure
The closure of the Strait of Hormuz will increase oil prices, impacting billions. UNCTAD report warns of $20 billion additional costs.
Iran Economy SOS: Worst Inflation Since 1942
Iran economy SOS: Worst inflation since 1942. May CPI up 77.2% YoY, essential goods up 113.8%. Causes: US and Israeli strikes on business and oil sectors.
Absheron field Stage 2 design completed
Design work for the second stage of the Absheron gas-condensate field is complete. TotalEnergies head Emmanuel de Guillebon revealed details at the Baku Energy Forum.
Oil prices see sharp fluctuations
Oil prices experience strong fluctuations: Brent and WTI drop again.
Rovshan Najaf: SOCAR becomes global energy and tech company
Rovshan Najaf: SOCAR invests in AI and data centers, becoming a global energy and technology company.
INPEX Official: Azerbaijan has great future potential
INPEX's Executive Director sees Azerbaijan as a country with great future potential, emphasizing the 10% stake in ACG and long-term partnership.
Kio Kristofoli: Azerbaijan can be a world-class energy hub for years
BP official Kio Kristofoli at the Baku Energy Forum discussed Azerbaijan's potential to become a world-class energy hub.
Second Day of Caspian Oil & Gas Exhibition
Day 2 of the 31st International Caspian Oil and Gas Exhibition at Baku Expo Center features panel discussions and business meetings on key energy topics.
Benefits and Harms of Ice Cream Revealed
Discover the benefits and harms of ice cream as explained by dietitian Olga Yamilova.
Engine oils sharply rise in price
Engine oils sharply rise in price. Tensions in the Middle East and transport difficulties drive prices up by 30%.
Kazakh oil transit via Azerbaijan discussed
SOCAR President Rovshan Najaf and KazMunayGas head Ashat Khasenov discussed the project of Kazakh oil transit through Azerbaijan during Baku Energy Week.
President: Oil and gas not a fault, revenues matter
President Ilham Aliyev at Baku Energy Forum stressed the importance of proper management of oil and gas revenues.
Aliyev: Zangezur corridor will be built
Ilham Aliyev at Baku Energy Week emphasizes the inevitability of the Zangezur corridor and Azerbaijan's expanding energy role.
President: Our gas reserves suffice for 100 years
President Ilham Aliyev at Baku Energy Forum says gas reserves are sufficient for 100 years, processing capacity has increased, and favorable conditions for renewable energy investments exist.
SOCAR at 31st Caspian Oil & Gas Exhibition
SOCAR participates in the 31st International Caspian Oil and Gas Exhibition with a stand. Highlights energy security, innovation, and sustainable development.
SOCAR and Uzbekneftegaz discuss cooperation prospects
SOCAR President Rovshan Najaf met with Uzbekneftegaz head at Baku Energy Week to discuss energy cooperation and the Ustyurt project.
SOCAR supplies 2.5 million tons of crude oil to Indonesia
SOCAR supplied 2.5 million tons of Azerbaijani crude oil to Indonesia from 2022-2025. Energy Minister Parviz Shahbazov announced at Baku Energy Forum.
Trump sends letter to Baku
U.S. President Donald Trump sent a letter to Baku Energy Week participants, highlighting energy security and peace.
Hikmat Abdullayev: Access to technology not easy
Hikmat Abdullayev, deputy vice-president of SOCAR, said operational companies struggle to access new technologies.
SOCAR: Reducing methane emissions is a key goal
SOCAR has set reducing methane emissions as a key goal. Hikmat Abdullayev spoke about this at a panel discussion.
Drone detection of methane leaks effective
TotalEnergies expert Chingiz Orujov: Drones are effective for detecting methane leaks and measuring volume. Practical for Azerbaijan.
Kazakh minister highlights BTC significance
Kazakh Energy Minister Yerlan Akkenzhenov highlighted the strategic importance of the BTC pipeline for his country at the Baku Energy Forum.
Minister announces years for Karabakh and Absheron fields
Energy Minister Parviz Shahbazov announced the commissioning years of the Karabakh and Absheron fields. Karabakh in 2027, Absheron in 2029.
BYD breaks 8-month sales decline with 0.3% May growth
BYD ended an eight-month sales slide in May with a 0.3% gain. International sales surged 80.4% as demand grew in Europe and emerging markets.
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