Bulgaria to Receive 2 Billion Cubic Meters of Gas from Azerbaijan in 2024

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.

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.