BAKU/18.02.14/Turan : The NGO Coalition to Strengthen the Extractive Industries Transparency was evicted from office in the Life Centre at Street Ahmed Radjabli, 5a, 82 apt. ( near metro station Narimanov) .
As head of the organization Gubad Ibadoglu told the media, the host office , referring to the mythical " neighbor complaints " , offered to leave the premises immediately , and that was done on February 17.
The Coalition includes 120 non-governmental organizations, the State Oil Company, the State Oil Fund, as well as foreign partners in projects of oil and gas. The organization's goal is transparency of activity reports and financial discipline of its members.
According to Gubad Ibadoglu, their eviction from office was based on political motives . Azerbaijan has obligations to the international structures of accountability to society extractive industries . Last unfriendly steps of the authorities grossly violated norms of relations, he said. - 17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review