Iran Seeks to Form Joint Oil Firm with Azerbaijan

Slovak President Peter Pellegrini will visit Azerbaijan in the coming days, the head of state announced this during a conversation with journalists on October 24, according to Slovak media.

As of September 30, 2024, the assets of the State Oil Fund of Azerbaijan (SOFAZ) have increased by 9.4% compared to the beginning of 2024. According to SOFAZ's report, the Fund's assets reached $61.7 billion by the end of September this year, up from $56.4 billion at the start of the year.

The European Bank for Reconstruction and Development (EBRD) plans to invest approximately $200 million in the "Khizi-Abseron" wind power project, Javid Abdullayev, director of the State Agency for Renewable Energy Sources (AREA) under the Ministry of Energy of Azerbaijan announced.

The commissioning of the "Khizi-Abseron" wind power station is planned for the fourth quarter of 2025, Javid Abdullayev, director of the State Agency for Renewable Energy Sources, informed journalists.