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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In Azerbaijan, it is expected that the state will regulate the price of AI-95 gasoline. This was mentioned by Rauf Qurbanov, head of the Economics Department at the Ministry of Energy, during a meeting of the Parliamentary Committee on Natural Resources, Energy, and Ecology on November 19, where proposed amendments to the "Law on Efficient Use of Energy Resources and Energy Efficiency" were discussed. According to him, AI-95 could soon be included in the list of goods and services whose prices are regulated by the government.
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Natural gas currently meets 23% of global primary energy needs and plays a critical role in driving economic growth, improving living standards, and achieving environmental goals, according to Mohammed Hamel, Secretary General of the Gas Exporting Countries Forum (GECF). He spoke during the second joint meeting of the GECF and OPEC at COP-29.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, outlined ambitious plans for the growth and digitalization of the Middle Corridor during a ministerial roundtable on "Sustainable, Digital Middle Corridor" at COP29 on Monday.
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The Trump administration may seek to reduce U.S. funding for the International Energy Agency (IEA) or appoint a U.S. envoy to influence the agency’s methodology on fossil fuel forecasting, according to S&P Global Commodity Insights.
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