Baku hosts the 44th session of the ministerial meeting of the Organization of Railways Cooperation (ORC).
Speaking at the meeting, Deputy Prime Minister Abid Sharifov said Azerbaijan had invested about $ 25 billion in the development of transport infrastructure. More than 10,000 km of roads have been built across the country, and five international airports were built in the last five years in full updating the civil aviation fleet.
Azerbaijan has been an ORC member since July 1993. ORC is an international organization established at the ministerial meeting in Sofia, Bulgaria on June 28, 1956.
ORC members are the Ministries of Transport and central government agencies of 27 countries. --17D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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