BAKU, Azerbaijan, April 26.TurkicWorld News Agency presents an overview of the main developments in Azerbaijan’s oil and energy sector over the past week.
Oil sector
This week, a shipment of diesel fuel was shipped from Azerbaijan to Armenia. A freight train consisting of 16 wagons carrying 974 tons of diesel fuel departed from the Bilajari station of Azerbaijan Railways CJSC, heading towards Boyuk Kasik station.
On April 21, SOCAR announced the start date for seismic surveys on the Mediterranean shelf.
A consortium comprising SOCAR, bp, and Israel's NewMed Energy is expected to begin 3D seismic surveys in Zone 1, located on the Israeli Mediterranean shelf, in September 2026.
SOCAR Petroleum CJSC announced the commencement of ship-to-ship fuel supply operations in the Caspian Sea. This step marks a new stage in the company's development and further strengthens Azerbaijan's position in maritime logistics and fuel supply. The first such operation was successfully carried out in accordance with international standards.
On April 23, the Second Caspian and Central Asian Oil Logistics and Trade Forum opened in Baku. The forum's agenda covered key areas, including transport and infrastructure, financial aspects and transactions, and trading strategies in a changing global environment.
The forum aimed to develop professional dialogue, exchange experiences, and establish business contacts in regional oil trading and logistics.
This week, average prices for Azeri Light CIF, Urals, Dated Brent, and Azeri Light FOB Ceyhan crude oil decreased.
The average price of Azeri Light CIF crude oil, produced at the Azeri-Chirag-Gunashli field in Azerbaijan, fell by $3.39, or 2.9%, compared to the previous week, reaching $112.1.
The average price of Azeri Light crude oil FOB Ceyhan, Türkiye, was $109.01 per barrel, down $2.42, or 2.2%, from the previous week.
The average price of Urals crude oil decreased by $0.19, or 0.2%, compared to the previous week, to $84.5 per barrel.
The average price of Dated Brent crude oil was $109.69, down $8.22, or 7%, from the previous week.
Gas sector
According to the Azerbaijani Ministry of Energy, 91.5 million tons of oil and 19.6 billion cubic meters of gas have been produced since the commissioning of the Deepwater Gunashli platform.
Furthermore, this week, Serbian Minister of Mining and Energy Dubravka Djedović Handanović announced that Serbia is discussing flexible gas supplies with Azerbaijan in the amount of up to 0.9 billion cubic meters per year, with the potential to increase to 1.4 billion cubic meters annually after the completion of the gas-fired power plant in Niš in 2030.
Green economy
On April 20, the Azerbaijani Ministry of Energy announced the share of renewable energy in Azerbaijan's daily electricity generation, reaching 34.1%.
The investors in the Shafag solar energy project—bp, SOCAR Green, the Azerbaijan Business Development Fund, and MVM—announced the project's transition to the next stage, beginning the installation of solar panels at the construction site in the Jabrayil district. The installation of the first solar module was completed earlier this month, and construction continues on schedule.
Nadir Imanov, bp's Vice President for Finance for the Azerbaijan-Georgia-Türkiye region, noted that the commencement of this phase marks a significant milestone in the project's implementation. He said that, together with his partners, the focus is on ensuring the safe and efficient execution of the work. He emphasized that the project will contribute to the development of the renewable energy sector and the decarbonization of operations in the region, supporting Azerbaijan's energy transition.
