SOCAR

The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 1...

Azerbaijan, which began actively extracting gas from the Caspian at the beginning of the 21st century, reached a peak production level in 2024, but may face a decline in production by the end of the d...

In 2024, the revenues of the state budget of Azerbaijan in the oil and gas sector amounted to 17,969,6 million manats.This was reported by the Ministry of Finance.

Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included techn...

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 ...

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 (2014-201...

The State Oil Company of Azerbaijan (SOCAR) reported a net profit of 1.545 billion manats for the first half of 2024. According to SOCAR’s interim financial report, this represents a 9.3% increase com...

Oil and gas revenues of Azerbaijan's state budget in 2025 are expected to amount to AZN 18,773 million, of which AZN 3,830 million should be provided at the expense of tax authorities.