The newly-created Azerishig will conduct structural changes to improve the management system.
As a result of the structural changes, Sumgait Regional Electric Network MMC Ltd will be closed. The Northern Regional Department of Power Supply will be established instead of it.
The Department will include the power distribution sub-divisions of Sumgait as well as northern regions Guba, Gusar, Shabran, Khachmaz, Khyzy and Siyazan.
Azerishig was created by the presidential decree on February 9, 2015 to improve power supply of the regions of the country. It was established on the basis of Bakielectricshebeke JSC, which was in charge of power distribution in Baku and Absheron peninsula. Before that Azerenerji, state monopoly for power generation and transportation, was in charge of power distribution in the regions.--0--
-
- Social
- 23 April 2015 12:33
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review