The Azerbaijani representatives are invited to Vienna for a meeting of the Organization of Petroleum Exporting Countries (OPEC). In addition to them on October 21 there will be present 7 countries outside the oil cartel - the Russian Federation, Kazakhstan, Brazil, Colombia, Norway, Mexico and Oman.
According to the Oil Minister of Venezuela Eulogio del Pino, the initiator of such a meeting in the extended format, it will be a technical meeting of experts on oil. "The proposal of the Latin American side about the upcoming summit OPEC + non OPEC will be discussed at a meeting of OPEC in October," commented this message Kuwaiti Oil Minister Ali Al-Omair.
This is not a new initiative - formerly Russian Energy Minister Alexander Novak said that his country is ready to meet with OPEC and its member producers to discuss the market and 'fair prices for oil." --17D-
Economics
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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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