In 2023, 53% of all state budget revenues of Azerbaijan are expected from the oil sector

During the working visit of Azerbaijan's President Ilham Aliyev to Italy, “Eni” and the State Oil Company of Azerbaijan (SOCAR) signed three Memorandums of Understanding yesterday in Rome.. According to “Eni”, the first document focuses on expanding cooperation between Eni and SOCAR in hydrocarbon exploration and production, with the goal of enhancing Europe's, and specifically Italy's, energy security.

Since its commissioning until September 1, 2024, the Trans-Adriatic Pipeline (TAP) has transported 38.65 bcm of Azerbaijani natural gas. TAP AG, the company responsible for the pipeline's operations, reported this to Turan. According to TAP AG, during this period, 32.26 bcm of gas were supplied to the Italian market.

Azerenerji OJSC will spend over 40.5 million manats on the renovation of three and the integration of six small hydropower plants (HPPs) in Karabakh and Eastern Zangezur,  the Azerbaijani Republic’s state procurement portal.

The Ministry of Ecology and Natural Resources of the Nakhchivan Autonomous Republic (NAR) of Azerbaijan is selecting a company to develop project documentation for creating a solid waste recycling plant for energy production, the country’s single procurement portal.