The president of the Azerbaijan state oil company SOCAR, Rovnag Adbullayev, and his senior executive team met BP group chief executive Bob Dudley and the BP upstream executive team in London yesterday.
They agreed to continue working closely with SOCAR and the partner group to manage oil production from the Azeri-Chirag -Guneshli fields in the Caspian Sea for the benefit of the State of Azerbaijan and its partners.
Bob Dudley said: “It was an open and constructive meeting and the task ahead is clear. BP is fully committed to Azerbaijan and the effective management of the ACG field complex, one of the world’s great oil fields.” –12D--
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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