Fitch forecasted SOCAR's revenue for 2024 to exceed $50 billion

On the evening of last Friday, around 9 p.m., the Production Union "Azneft" (the extracting structure of SOCAR) confirmed a leak on an underwater oil pipeline in the Caspian Sea. This pipeline transports oil extracted from the "Neft Dashlary" field towards the Dubendi shore terminal, located in the northern eastern part of the Absheron Peninsula.

Over the past 10 years, the State Electricity Distribution Company “Azərişiq” (the state monopoly for electricity distribution in Azerbaijan) has laid 20,000 km of power lines of various voltage levels, Vusal Ganbarov, the technical advisor to the chairman of “Azərişiq” stated.

Azerbaijan, Georgia, Türkiye, and Bulgaria have agreed on the text of a draft quadripartite Memorandum of Understanding on cooperation in the field of green energy transmission, the Ministry of Energy of the Republic of Azerbaijan  announced at the end of last week.

China’s foreign exchange reserves, the largest in the world, increased by 0.2% in January, reaching $3.209 trillion, according to the State Administration of Foreign Exchange (SAFE). This came as a surprise to analysts, who had forecasted a decrease to $3.2 trillion, according to Trading Economics data.