From January to August 2015 State Oil Company of Azerbaijan extracted 5,539,300 tons of oil, down 1.4% against the same period in 2014.
According to SOCAR, in August 2015 the company extracted 699,200 tons of oil.
In 2014 total volume of oil production in Azerbaijan totaled 41.9 million tons, of which 8,402,500 tons was extracted by SOCAR.
It was earlier reported with reference to SOCAR Vice President for Production and Transportation Rakhman Gurbanov that in 2015 SOCAR is forecast to extract 8.3 million tons of oil.—0—
Economics
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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