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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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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