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Azerbaijani chemical industry news
13 May 2026
bp takes 40% stake in North Ustyurt PSA, Uzbekistan
40% stake acquired in North Ustyurt PSA; remaining interests split 30%/30% with operator holding 30%. PSA covers six blocks; seismic exploration started after signing in Tashkent.
13 May 2026
bp joins Ustyurt PSA with 40% stake
At OGU 2026, accession documents signed for the Ustyurt PSA covering Boyterak, Terengquduq, Birqori, Kharoy, Qoraqalpoq and Qulboy. Project at early stage; operator conducting seismic surveys.
8 May 2026
MOL Group Q1 2026: USD 212m profit amid supply disruptions and price controls
Higher hydrocarbon prices lifted upstream; production 95.5 mboepd. Downstream hit by lower refining volumes and feedstock scarcity; Rijeka delayed coker opened. Consumer services and circulars rose.
2 April 2026
TotalEnergies and Masdar form $2.2bn JV for onshore renewables in Asia
Merger of onshore solar, wind and storage in nine Asian countries, combining 3 GW operational and 6 GW advanced-development (to 2030). HQ in ADGM; ~200 staff; closing subject to approvals.
1 April 2026
SOCAR at EGYPS 2026 (9th Egypt International Energy Conference & Exhibition)
Delegation attended an energy conference on security, sustainability and tech. VP highlighted Azerbaijan's gas exports - 13 bcm to Europe in 2025 (+60% vs 2021). A pact was signed with Egypt's EGPC.
27 March 2026
Fondazione MAIRE presents Climate Goals study in Berlin
Fourth edition of Climate Goals study shows Germany as highly aware, pragmatic on energy transition; emphasizes technical focus, workforce upskilling, and shift of momentum toward emerging economies.
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17 March 2026
SOCAR and KMG reach 4 million tonnes of Kazakhstan oil transit via Azerbaijan
427th Kazakhstan shipment left Aktau on Mar 12, arrived Sangachal on Mar 13; oil from Tengiz and Kashagan fields delivered to Sangachal, then sent via BTC pipeline to Ceyhan for export.
17 March 2026
SOCAR and KMG transit 4 million tons of Kazakh oil via Azerbaijan
Transit of Kazakh oil via Azerbaijan reaches 4 million tons: 3.8 Mt from Tengiz, 0.2 Mt from Kashagan. 427th shipment left Aktau Mar 12; oil moves Aktau-Sangachal-BTC-Ceyhan for export.
11 March 2026
SOCAR President at US-Azerbaijan Trade Conference
The conference in Washington focused on enhancing US-Azerbaijan trade, energy cooperation, and regional integration, highlighting Azerbaijan's role in Europe's energy security.
2 February 2026
XRG Acquires Stake in Southern Gas Corridor
XRG signed an agreement with Azerbaijan to invest in Southern Gas Corridor, enhancing energy security and cooperation in the region.
22 January 2026
Eni Sells 10% Stake in Baleine Project to SOCAR
The sale aligns with Eni's strategy to optimize its portfolio and follows prior MoUs with SOCAR. Baleine, a net-zero project, boosts Cote d'Ivoire's energy output. Regulatory approval pending.
17 December 2025
MOL Group and SOCAR Sign Onshore Exploration Agreement
MOL and SOCAR partner for hydrocarbon exploration in Azerbaijan's Shamakhi-Gobustan region, with MOL as operator. Seismic survey set for 2026, followed by drilling.
3 December 2025
Tengizchevroil Showcases Reservoir Management at SPE Conference
TCO shared advanced reservoir techniques at SPE conference, highlighting innovations in production, safety, and sustainability, and received awards for technological excellence.
5 November 2025
EU to Promote Global Clean Transition at COP30
EU to push for climate action at COP30, focusing on clean energy, emissions reduction, and climate finance, aiming for climate neutrality by 2050.
3 November 2025
XRG Expands Caspian Presence with Stake in Southern Gas Corridor
XRG signs non-binding terms to acquire a stake in SGC, enhancing UAE-Azerbaijan energy ties and boosting European energy supply diversification.
29 October 2025
Equinor Q3 2025 Financial Results
Adjusted operating income at $6.21B. Production up 7%. Strong cash flow, cost focus, and strategic developments. Dividend set at $0.37/share.
5 August 2025
MOL Group and KazMunayGas Ink Oil Trading Deal
MOL imports 85,000 tons of CPC crude to Croatia, enhancing supply security in Central and Eastern Europe. The deal builds on a strategic partnership for oil diversification and cooperation.
26 June 2025
First Joint Azeri Crude Shipment Arrives in Omišalj
92,000 tonnes of Azeri crude arrive in Omišalj, enhancing regional supply flexibility and security, and supporting crude diversification. Further shipments are planned.
16 June 2025
MAIRE Partners with Azerbaijan and Uzbekistan on Energy Transition
MAIRE collaborates with Azerbaijan and Uzbekistan on renewable energy, low-carbon tech, and SAF, supporting decarbonization and infrastructure upgrades in Central Asia.
18 January 2021
President Aliyev Breaks Ground for Two Plants in Sumgayit
President Aliyev inaugurated a thermoforming sheet glass plant and highlighted efforts to boost industrialization, reduce oil dependence, and increase local production and exports in Azerbaijan.
