Energy
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From January to October this year, the State Oil Fund of Azerbaijan (SOFAZ) earned $5.334 billion from the development of the Azeri-Chirag-Gunashli (ACG) oil fields, located in Azerbaijan’s sector of the Caspian Sea. According to SOFAZ, this represents a decrease of $531.6 million, or 9.06%, compared to the same period in 2023. In January-October 2023, SOFAZ earned $5.866 billion from the ACG project.
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From January to October this year, the State Oil Fund of Azerbaijan (SOFAZ) earned $416.174 million from the development of the “Shah Deniz” gas field in Azerbaijan’s sector of the Caspian Sea. According to the Fund, this is a decrease of $766.826 million, or 2.8 times, compared to the same period in 2023.
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The Cabinet of Ministers has amended the decree from April 22, 1998, “On Customs Duty Rates for Export-Import Operations.” Prime Minister Ali Asadov signed the new decree on November 7, 2024.
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Uzbekistan, Azerbaijan, and Kazakhstan will create a joint venture to implement the "green corridor" project, Uzbekistan’s Deputy Energy Minister Umid Mamadaminov announced.
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