Energy
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A Memorandum of Understanding has been signed regarding the possibility of increasing Russian gas supplies to Hungary, “Gazprom” said.
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The US Department of Energy lowered the forecast for the cost of Brent crude oil in 2024 by 2.4% to $80.89 from $82.8 per barrel, a report from the Energy Information Administration (EIA) of the ministry. The agency noted that the forecast for the cost of oil has been lowered against the background of a projected decrease in demand in 2025.
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The State Oil Fund of Azerbaijan (SOFAZ) reported revenues of $364.465 million from the “Shah Deniz” gas field in the Caspian Sea's Azerbaijani sector from January to September this year, this is by $818.535 million or 3.2 times lower than the same period in 2023.
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European Union (EU) countries increased their gas imports from Azerbaijan by 5.5% in the period from January to July 2024, totaling 297,765 terajoules (TJ) compared to the same period last year.
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