Category: Oil & Gas


SOCAR submitted a proposal to Russian Gazprom to purchase from 3 to 5 billion cubic meters of gas a year.


Although Saudi Arabia announced that it will not put a brake on its oil output unless Iran and others agree to join in, analysts are still optimistic about the upcoming Doha meeting and expect oil production cut.


With the oil prices that have gone below $40 a barrel there is a risk for them in the near term to drop even lower, Ole Hansen, Head of Commodity Strategy in Saxo Bank told Trend on March 30.


Azerbaijan’s state oil company SOCAR will produce about 3,650 tons of oil annually through commissioning of a new well being drilled at the Oil Rocks offshore field in the Caspian Sea.


The oil market experts weren’t exactly happy with the oil production freeze idea that would keep the prices on the January-2016 level. Some called it pure theatrics, while others thought it was just a temporary measure to stabilize the market […]


Even as the oil price dwells at levels not seen since the peak of the financial crisis, many analysts and investors are repeating a new crude undersong: crude price will be lower for longer.