Azerbaijan seeks to increase the supply of oil to the Asian markets, writes Reuters. So, Eikon data show that in October, Azerbaijan sent to China, Taiwan and India nearly 7 million barrels of oil - it is the highest since the beginning of the fixation of the index in January 2015.
The publication notes that consuers in Asia, which account for a third of global oil supplies, with excitement are watching the way the producers of OPEC - their biggest suppliers - openly discuss price support. Buyers say that in the context of availability of supplies from outside OPEC, they will consider new sources, if the organization ceases to offer a reasonable price.
Forbes noted that if OPEC agreed to reduce oil production, the Asian markets will begin to get oil from countries outside the cartel. The figures show that Azerbaijan has already started to actively capture the position in this part of the world. -0—
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review