In January-November 2016, Azerbaijan produced 37 million 717.2 million tons of oil and condensate, which is 1.5% less than the same period last year. This was reported in the monthly report of the State Statistics Committee of Azerbaijan.
During the reporting period, Azerbaijan produced 37 million 670.4 thousand tons of commercial oil, which was also 1.5% less than in January-November 2015.
In November Azerbaijan produced 2 million 994.4 thousand tons of commercial oil. Compared to November 2015, the commercial oil volumes decreased by 290.9 thousand tons, or 8.85%. -12B-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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