Azerbaijan Delays Economic Reformatting

BP has signed a shareholders agreement with SOCAR Green (a subsidiary of SOCAR) and the Azerbaijan Investment Company (AIC) to form a joint venture for the construction of a 240 MW solar power plant in Azerbaijan’s Jabrayil District, the company announced on Monday.

The State Oil Company of Azerbaijan (SOCAR) and Russian energy giant Gazprom are discussing further steps to strengthen their strategic partnership in the energy sector, SOCAR announced on social media on Monday.

In Azerbaijan, it is planned to calculate wages on an hourly basis instead of monthly. At the same time, according to officials' statements, salary increases are expected next year. So far, there is no official information on how much wages will increase. However, experts say that the transition to hourly wages in Azerbaijan appears very difficult and could lead to cases of abuse.

The third day of the Baku Climate Action Week, dedicated to the upcoming COM 29 Climate Summit, discussed the role of global financial flows in supporting green energy and sustainable development projects.