Azerbaijan’s state oil company SOCAR and Canada’s Gran Tierra Energy Inc. have signed a memorandum of understanding (MoU) to conduct joint research focused on the technical and economic assessment of a project to explore, develop, and produce hydrocarbon resources in the Guba-Caspian region.
Under the memorandum signed today during Baku Energy Week, Gran Tierra Energy Inc. will assess geological and technical data related to the project, as well as evaluate its logistical and infrastructure potential.
Once the geological exploration program and key commercial terms are finalized, steps will be taken to sign a Production Sharing Agreement.
Gran Tierra Energy Inc., an international energy company based in Calgary, Canada, is currently involved in the exploration and production of oil and natural gas in Canada, Colombia, and Ecuador.
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Baku Energy Week 2025 has spotlighted Azerbaijan’s rising energy role, as it secures landmark oil, gas, and renewable energy deals with global partners, reinforcing its commitment to diversification and security.
Turkish President Recep Tayyip Erdogan emphasized Türkiye and Azerbaijan’s strategic partnership in energy, highlighting their growing role in ensuring regional and European energy security.
“Baku Energy Week,” the region’s leading energy industry event, kicks off its 30th edition today, bringing together global energy leaders for impactful discussions and collaborations. This milestone event continues to strengthen Azerbaijan’s role in the international energy arena.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
Israel has sharply escalated its warnings to Lebanon amid rising regional tensions linked to Iran, according to a report by the Lebanese newspaper Nida Al Watan.
Despite facing challenges in chip manufacturing, Chinese artificial intelligence (AI) researchers are optimistic about narrowing the technological gap with the United States, driven by an increasing culture of risk-taking and innovation.
U.S. oil major Chevron and private equity firm Quantum Capital Group are reportedly preparing a joint bid to acquire Lukoil’s international assets, as the sanctioned Russian energy company seeks to divest its overseas operations.
The U.S. dollar's share of global reserves fell to nearly 40% at the end of 2025, according to the International Monetary Fund (IMF), which says it's 10% lower than at the start of 2024. However, gold has risen and overtaken the dollar to be above 50% in global reserves according to the IMF data.
The U.S. dollar has strengthened against major peers on Tuesday, while the euro fell following slower-than-expected inflation in Europe. Market movements were relatively subdued as investors focused on upcoming U.S. economic data.
Wall Street closed higher on Tuesday, boosted by optimism over artificial intelligence (AI) and a strong rally in Moderna shares, with the Dow Jones Industrial Average approaching a record high.
India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
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