Major events in Caspian countries' oil and gas industry for last week (Nov. 13-17)

SOCAR holds talks with world's leading oil, gas companies

President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev along with the heads of 25 other leading world oil and gas companies took part in the Abu Dhabi CEO Roundtable, SOCAR said in a message.

Abu Dhabi CEO Roundtable has been recently organized in Abu Dhabi by the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). More than 2,000 companies from 135 countries have been represented at the exhibition and conference.

According to the message, global problems, namely, energy transformation and a new dynamics of supply and demand, were discussed during a high-level meeting held at the headquarters of the Abu Dhabi National Oil Company.

"The main topic of the roundtable discussion was the impact of modern technologies and the spread of new energy sources worldwide,” the message said.

Following the roundtable discussion, Abdullayev held face-to-face meetings and meetings in expanded format with the heads of BP, Total, Statoil, Petronas and Saudi Aramco and discussed the current issues within the existing partnership.

Abdullayev stressed that such platforms are necessary for an exchange of views among leading companies to better manage rapidly changing processes in the global energy sector and appreciated the organization of such discussions.

"The processes, which we are discussing here, affect all countries, including Azerbaijan,” he said. “The role of alternative energy sources is growing due to new technologies.”

“However, oil and gas products will continue to play an important role in the future not only as fuel, but also in the production of various polymer products, fertilizers and food products,” he said. “From this point of view, SOCAR's strategy of investing in new oil and gas refining projects has been recently justifying itself."

"SOCAR has become a company that plays an important role not only in Azerbaijan but worldwide upon Azerbaijani President Ilham Aliyev’s instructions,” he said. “By using this position, the company will continue to make its contribution to the country's revenues and coordination of global problems."

New appointments at Azerbaijani Energy Ministry

New appointments have been made at the Azerbaijani Energy Ministry.

Head of the Department for Energy Policy, Fuel and Energy Resources Elkhan Hashimov has been appointed acting head of the State Gas Supervision Administration for a period of one month, the Azerbaijani Ministry of Energy told Trend.

Moreover, Head of the Electric Power Department Amil Mursaliyev has been appointed acting head of the Energy Supervision Administration for a period of one month.

Esmira Jafarova has been appointed head of the international affairs department. Previously, she served as third secretary of the Security Affairs Administration of the Azerbaijani Foreign Ministry.

Imported gasoline prices increase in Azerbaijan

Prices for AI-95 Premium and AI-98 Super gasoline brands, which are imported to Azerbaijan from abroad, have risen, SOCAR Petroleum, which imports and sells these brands of gasoline, told Trend.

The price of one liter of AI-95 Premium rose to 1.25 manats, the price of AI-98 Super rose to 1.5 manats.

Previously, the retail prices of these brands of gasoline were 1.15 and 1.30 manats per liter, respectively.

SOCAR Petroleum explained the increase in prices with the growth trends in gasoline prices all over the world, including in countries from luxury brands are imported.

At the same time, the prices for AI-92 gasoline and diesel fuel, which are produced domestically and used in the majority of vehicles, will remain unchanged. Accordingly, the current price increase will affect only the owners of luxury cars, the company said.

İn recent years, due to the positive dynamics of oil prices in several neighboring countries, there has been an increase in gasoline prices. In particular, this trend has affected Russia, Georgia, Uzbekistan, Ukraine and several other countries.

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