Vice President of SOCAR: Hydrocarbons of the country are equivalent to four billion tons of oil and six trillion cubic meters of gas
Evaluation of hydrocarbon resources of Azerbaijan continues to grow,
the First Vice-President of the State Oil Company of Azerbaijan, Khoshbakht Yusifzade, said at the meeting with members of the Business Integration Club "Khazar-Europe."
After the discovery of gas mega-structure of "Shah Deniz", new large gas fields, "Umid" and "Absheron" were opened in the Azerbaijani sector of the Caspian Sea. In addition,
In the future, the structures "Babek", "Nakhchivan", "Asiman", "Shafaq", "Zafar-Meshal" will be developed. Today, the proven gas reserves in all of these structures are estimated at more than 2,5 trillion cubic meters. However, the projected reserves are estimated at six trillion cubic meters.
Proven oil reserves are estimated at 2 billion tons, and the same amount is projected, said Yusifzade. -02D-
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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