According to the State Statistical Committee of Azerbaijan, in 2014 Azerbaijan extracted 42,041,800 tons of oil and condensate. Production decreased by 3.2% against 2013, reported the Committee.
The Committee also reported that last year the country extracted 41,892,900 tons of oil and condensate. During a year the production decreased by 2.8%.
In 2014 the country extracted 29,419,300,000 cub.m. of gas (including technical gas, which was injected into the oil wells to maintain bed pressure) (growth by 0.7%). The volume of tank gas totaled 18,728,700,000 cub.m. (growth by 4.9%). Considering this, one can say that during 2014 10,689,600,000 cub.m. of gas was injected into the oil wells, burnt on the torches and etc.—0—
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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