Industry
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SOCAR’s 2025 figures portray a company of enormous scale, but they do not settle the question of earnings quality. Azerbaijan’s state oil company generated AZN 86.3bn — about $50.8bn — in revenue, yet ended the year with net profit of roughly AZN...
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A decline in global consumption will not necessarily make oil cheaper immediately. As long as the Strait of Hormuz remains closed, supply is falling faster than demand. For Azerbaijan, this means a temporary increase in export revenues, but it does...
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GL Group, Azerbaijan’s first private oil and gas group, announced on July 23 that it had completed the acquisition of production assets at four oil and gas fields located near Midland, Texas. As a result of the transaction, the company acquired more...
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Azerbaijan’s non-oil and gas economy generated all of the country’s gross domestic product growth in the first half of 2026, offsetting a continued decline in the oil and gas sector. However, a sharp slowdown in non-oil growth, a contraction in...
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