Inflation 2.7%

A recent study by the Institute of Socio-Economic Transformation (ISET), the CASE analytical center, and the Economic Expert Platform has revealed that the State Oil Company of the Azerbaijan Republic (SOCAR) topped the list of taxpaying gas stations in Ukraine last year. According to the research, in 2023, SOCAR led in paying fuel taxes in three quarters and payroll taxes in two quarters, as reported by tsn.ua.

Rovshan Najaf, President of the State Oil Company of the Republic of Azerbaijan (SOCAR), met on May 2 with  Alexey Chernyshov, CEO of the Ukrainian company Naftogaz, to discuss expanding collaboration in the oil and gas industry. The discussions, according to a SOCAR statement, focused on possibilities for Azerbaijani gas storage in Ukraine and explored broader energy issues including energy transition and decarbonization.

BP has inaugurated a new laboratory at Baku Engineering University on May 3, aiming to bolster the training of specialists in information and communication technologies (ICT) and cybersecurity within Azerbaijan. This initiative marks a significant step by BP to foster local talent and enhance digital security expertise in the region.

Mastercard is opening a new office in Baku, highlighting its commitment to Azerbaijan as a pivotal market in its regional strategy. The new facility will provide operational, technical, and consulting services, reinforcing Mastercard's role in advancing payment infrastructure and financial accessibility in the region.