BP Expects Decline in Upstream Segment Performance

Gas reserves in Europe’s underground gas storage (UGS) facilities have fallen below 66%, and the withdrawal rate since the beginning of the heating season is 28% higher than the average for the past five years,  data from Gas Infrastructure Europe (GIE).

SOCAR Turkiye, the largest foreign investor in Türkiye and an integrated industrial group, has finalized the sale of its gas distribution networks, Bursagaz and Kayserigaz, to AKSA Enerji, announced  SOCAR Turkiye. According to the statement, following the completion of the transaction, these companies will be managed by the new owner.

At the opening ceremony of Abu Dhabi Sustainability Week (ADSW), Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technologies, introduced an innovative breakthrough in renewable energy. The Minister announced the launch of the world’s first renewable energy production facility capable of providing continuous and large-scale clean energy supply, marking a significant milestone that redefines the role of renewable energy in global energy systems.

By June 30, 2024, the level of gasification in Azerbaijan reached 96.5%, according to a report by SOCAR for the first half of 2024. Following the completion of the first gasification program (2014-2018), the process continues under the “State Program for the Socio-Economic Development of Azerbaijan's Regions for 2019-2023.” As of December 31, 2023, the gasification level stood at 96.46%. “The remaining works will be financed through state capital investments,” the company’s report stated.