BP  Is Optimistic About "Karabakh" Oil Field Development Project

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.

Kazakhstan plans to increase the volume of oil transit through the Baku-Tbilisi-Ceyhan (BTC) pipeline, Azerbaijan’s Ambassador to Kazakhstan, Agalar Atamoglanov stated. According to him, Azerbaijan and Kazakhstan, as traditional energy exporters, are actively developing cooperation in this field.

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.