Azerbaijani Ambassador on Increase in Kazakh Oil Transit

BP hopes that its participation in the development of the "Karabakh" oil field and the "Ashrafi-Dan Ulduzu and Aypara" (ADUA) structures in the Azerbaijani sector of the Caspian Sea will be an opportunity to implement international standards within these projects.

Established in 1999, the State Oil Fund of the Republic of Azerbaijan (SOFAZ) currently holds assets exceeding $60 billion, which is roughly 80% of the country’s economy, SOFAZ’s Executive Director Israfil Mamedov  said at the annual meeting dedicated to the 25th anniversary of the Oil Fund’s establishment. He noted that the revenue from managing SOFAZ’s assets has already surpassed $15 billion.

Azerbaijan is expected to supply Bulgaria with 2 bcm of gas in 2024, Azerbaijan’s Ambassador to Bulgaria, Huseyn Huseynov, stated in an interview with Euronews Bulgaria. The diplomat emphasized that energy is one of the priority areas in bilateral relations between Baku and Sofia.

In January-November of this year, Azerbaijan produced 1,210.8 thousand tons of automobile gasoline, the monthly report of the State Statistical Committee of Azerbaijan.