The shares of a number of enterprises of SOCAR, operating as joint stock companies, will be put up for sale. This was stated by the President of SOCAR Rovnag Abdullayev.
According to him, work is ongoing in this direction: "We will choose companies with a high yield to motivate the citizens."
Abdullayev said SOCAR is not planning to enter the primary market of shares (IPO).
He also noted that the entry of foreign borrowing and bond issuance are not on the agenda: "The purpose of the bond issue of SOCAR was to redirect the interests paid to foreign investors to domestic investors. Borrowing in foreign markets should be long-term. We don’t have such plans now." -12D--
Economics
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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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