In Azerbaijan, technical losses in the electricity distribution network amount to 8.5%

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.

The international rating agency Fitch Ratings predicts that the gross revenue of the State Oil Company of Azerbaijan (SOCAR) in 2025 will reach $45.935 billion. According to Fitch, SOCAR’s operating profit before taxes, interest, and depreciation (EBITDA) is expected to be $3.317 billion. "Favorable oil and gas prices have strengthened SOCAR’s financial performance," notes Fitch. The agency estimates that the company's revenue for 2024 will amount to $50.061 billion, with an operating EBITDA of $3.535 billion.

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.