A decree amending the Charter of the State Oil Company of the Azerbaijan Republic was signed by President Ilham Aliyev on 26 February. According to the changes, the Council, which operated under the SOCAR President, is transformed from a deliberative entity into a collegial management body. The Council under the President of SOCAR will include Vice Presidents, as well as other officials. At the same time, the Council meetings will be held under the chairmanship of the President of the state company. In addition, according to the changes in the Charter, members of the SOCAR Council and heads of departments should provide written information to the collegial body of the transactions concluded with entities, in which they participate directly or indirectly. Also subject to reporting is information on transactions concluded by close relatives of these persons. The circle of relatives includes the husband (wife), the parents, the parents of the husband (wife), the grandparents, the children (adopted children), and the siblings. -06D-
Economics
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It is expected that the average Azerbaijani family will allocate a larger portion of their budget to food in 2025, driven by rising social expenditures and increased wages.
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Temporary suspension of gas supplies from Azerbaijan to Serbia will be avoided, Serbian President Aleksandar Vucic announced on Sunday.
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On January 11, Serbian President Aleksandar Vučić announced that Azerbaijan had notified Serbia about the suspension of daily gas supplies amounting to 1.7 million cubic meters due to technical problems at the Shah Deniz field.
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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