The Tariff (Price Council) under the government of Azerbaijan on November 23 decided to reduce the wholesale price of furnace oil threefold. According to the decision of the Tariff Council, the cost of one ton of furnace oil has been reduced from 300 to 100 manat. This decision will come into force from December 2015. It should be noted that the retail price of furnace oil is not regulated by the state.
Despite the decline in the oil prices more than twofold in the world market in the past 1.5 years, the prices for gasoline and diesel fuel have not changed in Azerbaijan. -06D--
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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