SOCAR Announces Volumes of Oil Pumping through Russia

At the beginning of this week, the European Commission announced the continuation of negotiations with Kyiv regarding the supply of gas to Europe via Ukraine, adding that it intends to involve Hungary and Slovakia in these talks.

The date for the 11th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory Council and the 3rd Ministerial Meeting of the Green Energy Advisory Council has been postponed.

BP-Azerbaijan (the project operator) forecasts the production of the first volumes of low-pressure gas from the "Shah Deniz" field in June 2029, the company's report.

The assets of the State Oil Fund of Azerbaijan (SOFAZ) as of January 1, 2025, amounted to $60 billion 31.4 million. The Fund’s assets grew by 7.1% over the past year (on January 1, 2024, they totaled $56 billion 69.7 million), SOFAZ reported. In 2024, SOFAZ’s income reached 18 billion 39 million manats, while expenditures totaled 12 billion 896.4 million manats.