Industry

Azerbaijani oil prices increase

BAKU, Azerbaijan, The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by 98 cents on October 6 compared to the previous price, amounting to $99.35 per barrel, Trend reports referring to the source from the country’s oil and gas market.   The price of Azeri LT FOB Ceyhan on […]

Industry

Central Bank of Azerbaijan annuls licences of numerous insurance agents

BAKU, Azerbaijan, Central Bank of Azerbaijan (CBA) annulled the licenses of 28 individuals to operate as insurance agents, Trend reports citing CBA.   According to the CBA, the licenses were canceled due to the fact that the insurance agents did not eliminate the circumstances that served as the basis for the suspension of the licenses […]

Industry

Azerbaijani Parliament proposes amount of Ombudsman’s compulsory insurance

BAKU, Azerbaijan, The amount of compulsory insurance for the Azerbaijani Ombudsman is determined in the amount of a five-year official salary, Trend reports.   This issue was reflected in the draft law on amendments to the Constitutional Law ‘On the Commissioner for Human Rights (Ombudsman) of the Republic of Azerbaijan’, submitted for discussion at today’s […]

Industry

JOCAP completes offshore installation of Absheron EPS modules

BAKU, Azerbaijan, JOCAP, the Joint Operating company of the Absheron field on behalf of Contractor Parties SOCAR Absheron and TOTAL E&P Absheron BV, has completed the offshore installation of Absheron EPS modules, the company told Trend.   Reportedly, the three modules of the future Absheron platform were constructed onshore at the BOS Shelf yard; from […]

Industry

BP names time of starting production on Azeri Central East oil platform

BAKU, Azerbaijan, Oil production on the Azeri Central East (ACE) platform in Azerbaijan is planned to start since 2024, BP’s Project Manager for the platform Neal Phillips told reporters, Trend reports.   According to Phillips, in the first quarter of 2023, it’s planned to begin installation of the lower part of the ACE platform.   […]