In January 2015 SOCAR had a slight decline of oil production.
According to SOCAR’s statistics, in January 2015 it extracted 712,300 tons of oil, down 0.5% against January 2014.
In January 2015 oil production in Azerbaijan totaled 3,667,600 tons, up 0.7% against January 2014.
According to the State Statistical Committee, in January 2015 the country extracted 3,668,100 tons of oil.
In 2014 total volume of oil production in Azerbaijan reached 41.9 million tons, of which 8,402,500 tons of oil was extracted by SOCAR.—0—
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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