From January to May 2015 extraction of oil, including gas condensate, in Azerbaijan totaled 17,635,800 tons, down 0.8% against the same period in 2014, reads web site of the Azerbaijan State Statistical Committee.
From January to May 2015 gas production in Azerbaijan totaled 12,187,800,000 cub.m. (decline by 4.7%).
SOCAR has earlier reported quoting Rakhman Gurbanov, SOCAR Vice President for Extraction and Transportation, that in 2015 it is forecast to extract 40.7 million tons of oil and 30.2 billion cub.m. of gas in Azerbaijan.—0—
Economics
-
The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
-
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).
-
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.
-
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.
Leave a review