Azerbaijan Begins Decline in Production on Obligations to OPEC +

At a meeting  in Istanbul,  the board of directors of SOCAR Türkiye  discussed the company’s goals and projects for the upcoming year, SOCAR Türkiye reported.

As of January-November 2024, Azerbaijan’s electricity production totaled 23.55 billion kWh, by 2.2% lower than in the same period last year.

From January to November 2024, Azerbaijan exported 1.745 billion kWh of electricity worth $93.9 million, the monthly report of the State Customs Committee of Azerbaijan. This is by $285.4 million (75.2%) less than in the same period last year and 2.178 billion kWh (55.5%) less in volume. Electricity exports during the reporting period accounted for 0.39% of Azerbaijan’s total exports and 3.04% of non-oil sector exports.

Türkiye has received an exemption from the United States for "Gazprombank" in relation to payments for Russian gas, the NTV channel reported citing a statement by Türkiye's Minister of Energy, Alparslan Bayraktar. It is noted that this issue was previously discussed with U.S. Secretary of State Antony Blinken during his visit to Türkiye.