In January-February  2024, the income of the Azerbaijan Oil Fund from oil and gas projects decreased by 50%

Oil quotes accelerated their decline on Tuesday, the decline in the market is marked for the third session in a row. Following the results of trading, September Brent futures fell in price on the London ICE Futures exchange by 1.23%), to $83.72 per barrel. August futures for WTI yesterday fell by 1.51% on the NYMEX exchange, to $80.67 per barrel.

“Tatneft” will enter into a project to develop one of the oldest fields in Azerbaijan – “Bibi-Eybat,” where it will collaborate with the Azerbaijani company SOCAR on the introduction of technologies, the head of “Tatneft” Nail Maganov  stated last week during a "Dialogue on equal terms" with participants of the V International Oil and Gas Youth Forum in Almetyevsk.

BP, the operator of the “Shah Deniz” field development, plans to completely decommission electric generators on the “Shah Deniz Alpha” (SDA) platform in the third quarter of 2024, the press secretary of BP-Azerbaijan Tamam Bayatli.

There will be interruptions in the gas supply to Gobustan and Guba regions today,  “Azerigaz Production Association of the State Oil Company of Azerbaijan (SOCAR)” announced.