Oil is getting cheaper and ends the week in the red

Azerbaijani gas supplies to Türkiye will be suspended for several days due to maintenance on the export gas pipeline, the official message of the Turkish state pipeline company BOTAS made last Friday. "Due to the planned maintenance and repair work on the export gas pipeline related to the transportation of gas from “Shah Deniz,” the supply of this gas to the Turkish national gas distribution network from the “Turkgezu” entry point will be impossible from July 31 to August 5, and from the TANAP “Seitgazi” entry point from August 5 to August 9,"   the information reads.

SOCAR may start selling petroleum products produced in third countries to Pakistan at competitive prices this year, a source in the government of Azerbaijan said.

In January-June of this year, 2 million 726.68 thousand tons of gas condensate were produced in Azerbaijan, by 7.4% more than in the first half of last year.

“Azercontract” OJSC completed last year with a net profit of 41 million 703 thousand manats. The state-owned company completed 2022 with a net profit of 148 million 104 thousand manats. Thus, the net profit of “Azercontract” in 2023 decreased by 106 million 401 thousand manats or 71.2% compared to 2022.