Economy

Bulgaria’s public utilities regulator has approved an 11.3 % drop in gas prices for January, Azernews reports, citing Bulgarian media outlets. Bulgarian mass media say that the new price is set at 77.6 leva per MWh, excluding transport costs, excise duties and value added tax . Bulgaria’s Energy and Water Regulatory Commission …

The Turkish authorities have rejected claims that minesweepers presented by the UK to Ukraine allegedly passed through the Black Sea straits, Azernews reports. According to the information, such allegations do not correspond to reality. The document emphasizes that Turkey strictly adheres to the Montreux Convention, which sets the rules of passage through …

 The world’s largest robot competition, International Robotex, will be held in Azerbaijan for the first time, organised by the Global Olympic Centre and supported by the European Union, Azernews reports. Everyone, from preschoolers to students studying in higher schools, will be able to demonstrate their knowledge and skills in this competition. …

GL, Azerbaijan’s first private energy company, through its subsidiary GL Technical Services (GLTS), has signed a Memorandum of Understanding (MoU) with one of the world’s leading industrial services providers, Baker Hughes, Azernews reports. This enables GLTS to gain access to advanced technology and enhance the competence of its people to world-class industry …

Trade turnover between Azerbaijan and Georgia totaled $1371.4 mln in January-November this year, the National Statistical Office of Georgia has reported, Azernews reports. It is reported that during the reporting period, goods and products worth $583.61 mln were exported from Azerbaijan to Georgia. This is $12.60 mln or 2.2 percent more than …

The division of the German Siemens company in Austria sent the equipment for the reconstructed 28 May substation of Baku Metropolitan CJSC to our country. Azernews informs with reference to the joint stock company. According to information, a group consisting of the company’s management and technical specialists visited the Baku metro …

The regular board meeting was held under the chairmanship of Azerbaijan Energy Minister Parviz Shahbazov, with the participation of board members, representatives of structural units of the ministry, and subordinate institutions, Azernews reports. The Ministry informed that the chairman made a speech and said that important measures for the future development of …

The UN Climate Change Conference is today the highest negotiating body for implementing the provisions of the UN Framework Convention on Climate Change (UNFCCC), the Kyoto Protocol (KP) and the Paris Agreement (PA). These events started in 1995 and were initially small working sessions. Over time, they have become one …

On December 15, the State Oil Company of Azerbaijan (SOCAR) and BP Azerbaijan announced a joint initiative to reduce methane emissions in Azerbaijan. The collaboration is part of the Advancing Global Methane Reduction (AGMR) initiative, which is part of the Methane Guiding Principles (MGP), Azernews reports. The initiative focuses on instigating methane …

The European Bank for Reconstruction and Development (EBRD) is ready to support Azerbaijan in organizing COP29, Azernews reports, citing EBRD’s First Vice President Jürgen Rigterink telling at the meeting with Azerbaijan’s Economy Minister Mikayil Jabbarov in the United Kingdom. The minister expressed his gratitude to the EBRD for its longstanding and continuous …