
Kabyldin to become deputy chairman of board of KazMunaiGas
Kairgeldy Kabyldin, General Director KazTransOil JSC, will become Deputy Chairman of Board for Oil Transportation in KazMunaiGas (KMG), reported the company’s press office.
“The session of the Board of Directors of KazTransOil JSC took place on November 15, 2013. At the session Board of Directors of KazTransOil has agreed that General Director (chairman of Board) of KazTransOil Kairgedly Kabyldin will simultaneously hold a job of Deputy Chairman of KazMunaiGas Board of Oil Transportation,” reads the statement.—0—
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