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Energy in Azerbaijan

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  • "Chevron is selling off its investment in the oil-rich former Soviet Union nation of Azerbaijan"


    • Crude Oil May 20
      Currency in USD Add to watchlist $11.40 -$6.87 (-37.60%)


      • Ադրբեջանական նավթի գինը նվազել է մինչև 13 դոլար,

        Նյու Յորքի Nymex բորսայում ադրբեջանական նավթի գինը նվազել է ավելի քան դոլարով և այժմ վաճառվում է մեկ բարելի դիմաց 12.97 դոլարով: Այս մասին հայտնում է Ազերթաջ գործակալությունը:


        • "Oil prices ended New York trading in the negative on Monday for the first time ever, as a supply glut forced traders to pay others to take the commodity. With space to store oil scarce, US benchmark West Texas Intermediate for May delivery ended trading at -$37.63 a barrel ahead of Tuesday's close for futures contracts"

          Crude Oil May 20 $-37.0000 $-55.2700 (-302.52%) OIL IS FREE you get paid to pick it up


          • Originally posted by Azad View Post
            "According to IMF data, Azerbaijan needs an oil price of around $53 per barrel to balance its budget.

            azeris need the price to be $53 per barrel to survive and it is selling for - $37.63 << That is MINUS


            • "The currency’s hard peg to the dollar could compound the economic cost of the crisis in Baku."



              • "BAKU -- Azerbaijan's central bank has put four of the energy-rich South Caucasus country's top banks under temporary administration, amid economic difficulties caused by a plunge in oil prices and the coronavirus pandemic. The central bank on April 27 appointed temporary administrators for Atabank, AGBank, NBCBank, and Amrah Bank, which are among the country's 15 largest financial institutions.
                No explanations were officially given for the decision, but some media reports said it might be a first step toward the banks' possible closure or merger with other financial institution.
                The ongoing widespread economic slowdown caused by governments imposing restrictions on businesses and individuals in a bid to curtail the spread of the coronavirus has triggered a collapse of global oil prices in recent weeks.
                Crude oil and natural gas are Azerbaijan's main sources of income."


                • All the large oil companies are exiting azeristan. First Chevron left now Exxon.

                  "Exclusive: Exxon Revives Sale of Stake in Giant Azeri Oilfield

                  For Exxon, the sale of its operations in Azerbaijan would mark the end of a 25-year involvement."