Economy

Azerbaijan’s State Oil Company (SOCAR) and Romanian Romgaz have signed a memorandum of understanding on cooperation, Azernews reports. The document was signed by SOCAR Vice President Elshad Nasirov and Romgaz S.N.G.N Deputy Chief Officer Aristotel Jude during the visit of Economy Minister Mikayil Jabbarov, Energy Minister Parviz Shahbazov and SOCAR …

“In recent days, there have been different opinions that the decision of OPEC plus to cut daily oil production by 2 million barrels since November will lead to a deficit in the oil market. I believe that OPEC plus, as always, this time adopted such a decision in order to …

The Embassy of India in Baku has organized a B2B meeting on India-Azerbaijan Cooperation in tiles sector with the participation of an Indian delegation comprising four companies and about 15 representatives of major Azerbaijani companies and business support organizations including AZPROMO. Companies from both countries gathered in JW Marriott Absheron …

AZAL President Jahangir Asgarov has met with Senior Vice President of the Italian company “Leonardo” Marco Buratti to discuss prospects for cooperation in civil aviation. The parties at the meeting touched on the issues of cooperation in the field of aircraft maintenance and repair, as well as the introduction of …

Azerbaijan`s Minister of Energy Parviz Shahbazov has participated in the “New Challenges, New Opportunities: What’s in Store for the Oil and Gas Market?” Plenary Session at the Russian Energy Week International Forum. The minister shared his views on the balancing of the global oil market and the development of green …

Russia’s president on Wednesday said Türkiye may become the principal route for Russian gas deliveries to Europe, according to Anadolu Agency. Speaking at the Russian Energy Week International Forum in Moscow, Vladimir Putin said his country was delivering “not great, but presentable” volumes of gas to Europe via TurkStream, suggesting …

Azerbaijan’s Minister of Energy Parviz Shahbazov, who is on a visit to Georgia, has met with the country’s Prime Minister Irakli Garibashvili. During the meeting, the sides discussed strategic partnership, including cooperation between the two countries in the spheres of energy and transport. The Georgian side expressed keenness to deepen …

Azerbaijan’s State Oil Company (SOCAR) is supposed to at least double gas exports via the Southern Gas Corridor (SGC) by 2027, the company’s President Rovshan Najaf said during the 2nd Azerbaijan-Turkiye Energy Forum, Azernews reports per Trend. “Therefore, we are discussing plans on expanding the TAP and TANAP pipeline capacities. …

Istanbul has hosted the 2nd Azerbaijan-Turkiye Energy Forum, co-chaired by Azerbaijani Minister of Energy Parviz Shahbazov and Turkish Minister of Energy and Natural Resources Fatih Donmez. The forum was preceded by a bilateral meeting between the energy ministers of both countries. The meeting reviewed the activities of working groups on …

From 1 to 8 June this year, the International Civil Aviation Organization (ICAO) conducted another large-scale audit of ICAO Coordinated Validation Mission (ICVM) for compliance with international safety standards of civil aviation in the Republic of Azerbaijan under the Universal Safety Oversight Audit Programme (USOAP). During the audit, compliance with …