According to the preliminary forecast of Azerbaijan's consolidated budget for next year, published by the Ministry of Finance, the state-owned oil revenues will amount to 7 billion 855 million manats, or 49.2% of the revenues.
Turan reported earlier the share of transfers from the State Oil Fund of Azerbaijan (SOFAZ) will amount to AZN 6.1 billion, tax revenues of the state oil company – AZN 1.28 billion (+ AZN 40 million to the current year), and Azerbaijan International Operating Company (AIOC) will give the tax authorities AZN 475 million (+ AZN 105 million). --17D-
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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