Oil prices slip further as markets await clarity on Iran ceasefire deal
Oil prices edged lower on Tuesday (16 June) as traders assessed the possibility of oil supplies returning through the Strait of Hormuz following a pre...
BP has announced that a seismic survey programme for the Ashrafi–Dan Ulduzu–Aypara (ADUA) project in the Azerbaijani sector of the Caspian Sea will be carried out between February and April next year, according to Report.
BP, which operates the ADUA contract area, said the work will involve a 2D high-resolution seismic survey designed to support future exploration drilling.
The survey is expected to last up to 20 days and will cover a limited area in the north-western part of the ADUA block, in water depths of between 20 and 40 metres.
The company said the primary objective of the survey is to collect detailed subsurface data to a depth of around 1,500 metres.
The data will be used to identify shallow geological hazards such as faults, shallow gas accumulations and other features that could pose risks to drilling operations and well integrity.
As part of the preparation process, BP said a draft Environmental Impact Assessment (EIA) for the seismic survey programme has been produced and published on behalf of the project’s contractor parties.
The document outlines the planned survey activities, assesses potential environmental and socio-economic impacts, and sets out proposed mitigation and monitoring measures.
BP said the EIA process is intended to ensure that any adverse environmental or socio-economic effects associated with the survey are identified, minimised and, where possible, eliminated. Stakeholder consultations form a key part of the process, allowing public input to be considered in both project design and environmental planning.
The draft EIA and a non-technical summary have been made available in both Azerbaijani and English.
Since 26 December, 2025, copies and access links have been placed at multiple public locations in Baku, including libraries, academic institutions and environmental information centres.
BP said members of the public are invited to submit comments and feedback on the draft EIA by email, post or through designated public locations. The EIA disclosure period will run until 26 January, 2026.
The Ashrafi–Dan Ulduzu–Aypara project is one of several offshore exploration initiatives aimed at expanding Azerbaijan’s hydrocarbon potential in the Caspian Sea.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
Switzerland on Sunday rejected a referendum proposal to cap its population at 10 million, a projection showed, as voters prioritised economic stability and the country's ties with the European Union over immigration concerns.
Oil prices edged lower on Tuesday (16 June) as traders assessed the possibility of oil supplies returning through the Strait of Hormuz following a preliminary agreement aimed at ending the conflict involving Iran.
In an historic milestone for South Caucasus diplomacy, Hikmat Hajiyev, Assistant to the President of the Republic of Azerbaijan, conducted his first working visit to Armenia on 14 June for a high-level meeting with Armen Grigoryan, Secretary of the Security Council of the Republic of Armenia.
Iran has said that reaching an agreement with the U.S. to end the war does not mean Tehran will overlook what it describes as war crimes committed against Iranians by Israel and the United States.
The Trans-Caspian East-West International Transport Corridor, commonly known as the Middle Corridor, is a multimodal trade route linking China and the European Union via Central Asia, the Caspian Sea, the Caucasus and Türkiye.
The United Nations Security Council unanimously extended the United Nations Assistance Mission in Afghanistan (UNAMA) until 17 June 2027 in New York on Monday, preserving its humanitarian, rights and political work.
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