SOCAR is not going to close its representation in Greece until closure of the deal to purchase share in the Greek gas operator DESFA, Greek media reported quoting their own sources.
Akram Zeynally, Azerbaijani Ambassador to Switzerland, said in his interview to the Russian newspaper Nasha Gazeta in Switzerland that SOCAR has closed its official representation in Geneva, because of slump of oil prices, but left the offices of SOCAR Trading and SOCAR Energy Switzerland. SOCAR Energy Switzerland manages the network of petrol stations in Switzerland.
While commenting this information SOCAR President Rovnag Abdullayev said that the decision to suspend operation of all foreign representations of SOCAR was made in December 2015.
“The functions of the representations have been passed to the office in Baku and the companies, which are fully owned by SOCAR. As any other company, we have taken steps in a response to slump of oil prices,” said Abdullayev.-0—
Economics
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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