In January, production of petroleum products decreased in Azerbaijan
In January 2024, the production of petroleum products in Azerbaijan decreased in monetary terms by 9.6% to 303.6 million manats ($178.6 million) compared to January 2023.
In January 2024, a decline was recorded in the production of motor gasoline - 115.8 thousand tons (a decrease of 0.1%), gas oil (diesel fuel) - 179.2 thousand tons (a decrease of 7.4%), lubricating oils - 2.4 thousand tons (a decrease of 57.9%), liquefied natural gas - 16.4 thousand tons (a decline of 26.5%), petroleum coke -19.5 thousand tons (a decline of 13.3%), the State Statistics Committee of the Republic of Azerbaijan.
In the reporting period, jet fuel was produced in the amount of 43.7 thousand tons (an increase of 4.8%), petroleum bitumen - 12.4 thousand tons (an increase of 22.8%). There was no production of fuel oil in January.
As of February 1, 2024, in the form of stocks of finished products in the warehouses of the Baku refinery there are: gasoline - 38 thousand tons, jet fuel – 27.6 thousand tons, gas oil (diesel fuel) - 107.2 thousand tons, fuel oil - 1.7 thousand tons, lubricating oils – 3.3 thousand tons, liquefied gas - 3.4 thousand tons, petroleum bitumen – 10.2 thousand tons, petroleum coke – 46.9 thousand tons
Energy
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We have very big plans in the energy sector. Two hydroelectric power plants with a capacity of 280 megawatts are planned to be built here, President Ilham Aliyev stated in his speech at the ceremony of commissioning the Khudaferin hydroelectric complex and the opening of the Giz Galasi hydroelectric complex built on the Araz River. The Head of State noted that the equal sharing of energy capacities will also bring additional benefits to both countries – Azerbaijan and Iran.
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The State Oil Company of Azerbaijan (SOCAR) plans to use artificial intelligence in its activities, SOCAR Vice President Afghan Isayev said at the forum "Raising Ambitions and stimulating activities: COP29 Sustainable Business Forum".
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SOCAR has outlined the transition from the status of an oil and gas company to an energy company by 2035, which involves participation in renewable energy projects, in the process of decarbonization, that is, the talk is about having a portfolio of low-carbon projects, SOCAR Vice President Afghan Isayev stated at the conference "Strengthening Ambitions, implementing actions: COP29 Sustainable Business Forum".
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Harry Kemian , a Senior Adviser on Multilateral Energy Diplomacy at the Bureau of Energy Resources of the US Department of State, will visit Azerbaijan in June to participate in Baku Energy Week, the U. S. Department of State reported.
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