Economy

Azerbaijan’s State Oil Company President Rovnag Abdullayev and BP Vice-President for Production and Operations Gordon Birrell have discussed bilateral oil and gas cooperation, the company reported on October 26. During the meeting, the parties exchanged views on the progress of exploratory drilling in the shallow part of the Absheron Peninsula. …

Azerbaijan’s SOCAR AQS and Ukraine’s Naftogaz have signed a memorandum of understanding on joint cooperation for the development of onshore and offshore technologies. At the same time, Naftogaz signed memorandums of understanding with the United Arab Emirates’ Dragon Oil and the U.S. based Helmerich & Payne Inc., as well as …

The issues of expanding the fleet of the Azerbaijan Caspian Shipping Company (ASCO) and its renewal with modern ships are always in the spotlight. By the instruction of President Ilham Aliyev, important work is being carried out in this area. The oil tanker “Kalbajar”, built at the Baku Shipyard by …

The Fuzuli Airport has received international status. The relevant order was signed by the Prime Minister of Azerbaijan Ali Asadov. Thus, the Fuzuli Airport is open for international flights. This will foster the development of the tourism potential of Karabakh. The decision to grant international status was taken following the …

The Algerian company Sonatrach is interested in developing cooperation with Azerbaijan’s State Oil Company (SOCAR). SOCAR President Rovnag Abdullayev made the remarks at a meeting with Algerian ambassador Salima Abdelhak on October 14. During the meeting, the ambassador noted that Sonatrach is interested in expanding relations with SOCAR, exploring new opportunities …

President of AZAL Jahangir Asgarov has met with Regional Sales Director for Eastern & Northern Europe of Airbus Group Sergey Nedbaylo. During the negotiations, the parties discussed long-term cooperation within the framework of bilateral initiatives and emphasized the experience of successful engagement between the companies. In particular, a preliminary agreement …

USAID-supported regional reforms lead to market liberalization and access to clean and affordable electricity, Tahra Vose, Press Attache of the US Embassy in Kazakhstan, told Trend. Vose said that by partnering with Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, international donor agencies, and the private sector, USAID is strengthening regional …

Since the start of the year, wholesale gas prices in Europe have risen by 250 percent. The record-high prices in Europe are driven by increased demand (due to the wider economic recovery and weather-related factors), competition with Asia for LNG, and a limited supply response from Gazprom, Europe’s largest supplier, …

Azerbaijan`s Deputy Minister of Energy Elnur Soltanov has taken part in the 2nd Caspian European Forum held in hybrid format in Berlin, Germany. The event was joined by representatives of the littoral states of the Caspian Sea and Central Asian countries, as well as senior executives of Germany, international organizations …

Azerbaijan`s Minister of Energy Parviz Shahbazov has met with Ambassador of the Kingdom of Belgium to the country Michel Peetermans. The sides discussed the existing cooperation between Azerbaijan and Belgium in various fields. The meeting highlighted the reforms carried out in the energy sector of Azerbaijan, energy efficiency, expansion of …