Commercial oil production in Azerbaijan decreases by 4.3%

In January-July of this year, Azerbaijan produced 29 billion 457.2 mcm of natural gas. Of these, the share of commercial natural gas accounted for 22 billion 510.9 mcm, the monthly report of the State Statistics Committee of the Republic of Azerbaijan. During the reporting period, natural gas production increased by 4.3% compared to the same period of last year, and commercial gas production increased by 6.4%.

From January to July 2024, oil product production in Azerbaijan increased in monetary terms by 1.3%  compared to the same period of 2023, reaching 2.908 billion manat (approximately $1.71 billion,) monthly data from the State Statistics Committee of Azerbaijan. During the specified period, the production was as follows:

From January to July this year, retail sales of gasoline and diesel fuel in Azerbaijan amounted to 1.8212 billion manat. According to the State Statistics Committee of Azerbaijan, this is by  6.8% more than during the same period  last year. During the reporting period, 5.6% of consumer spending on final goods was directed towards purchasing gasoline and diesel fuel. It should be noted that from January to July of this year, retail sales in Azerbaijan totaled 32.3 billion manat.

A small solar power plant is planned for construction in the Hajiqabul Industrial Park. To this end, the Economic Zone Development Agency (IZIA) under the Ministry of Economy of Azerbaijan and AGAS Group, a company specializing in alternative energy station construction in Azerbaijan, have signed a Memorandum of Understanding. According to the Agency’s statement, the document aims to support commitments related to hosting the COP29 conference in the country and reforms in "green" energy. Under the Memorandum, AGAS Group will develop a technical and economic justification for building a 2.5 MW solar power plant in Hajiqabul. The next step will be to implement the project and provide part of the industrial park with green energy.