Novruz Məmmədov. azeriobserver.az
Baku/06.07.18/Turan: Prime Minister NovruzMammadov was elected acting Chairman of the Supervisory Board of the State Oil Fund (SOF) of Azerbaijan. This decision was made at a meeting of the Supervisory Board of the Oil Fund on July 6.According to the report of the National Assembly, today's meeting heard the annual report on the activities of the State Oil Fund for 2017, the results of the audit of financial activities, as well as the implementation of the budget for 2017 and changes to the budget of 2018 were discussed. The Supervisory Board found satisfactory he report presented by the Executive Director.
Following the meeting, it was decided to submit to the President of the country the draft budget execution for 2017 and submit for approval the changes to the budget for 2018.
The Supervisory Board of the SOF consists of six members, headed by the Prime Minister. Last month, changes were made to the state budget, according to which transfers from the Oil Fund to the budget are expected to be 9 billion 216 million manats. After making changes, this figure grew to 10 billion 966 million.-0-
Energy
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In a country with sufficient reserves of traditional and green energy, there is no need to invest in costly nuclear power, Ilham Aliyev, President of the Republic of Azerbaijan, said in an interview with "Russia Today" when asked whether Azerbaijan needs a nuclear power plant.
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Russia became the second-largest supplier of gas to the European Union in October, losing its leadership to Algeria, according to data from Eurostat. In September, Russia had become the primary gas supplier to Europe for the first time since spring 2022, delivering gas worth €1.4 billion and accounting for 23.7% of the EU's gas imports. However, in October, gas supplies dropped by 6% to €1.3 billion. As a result, Russia became the second-largest supplier, with a 21.2% share. Algeria increased its gas exports to the EU in mid-autumn, reaching €1.3 billion, up from €1.1 billion the previous month, and accounted for 21.6% of the market. The United States rounded out the top three, with €1.2 billion in gas exports, an increase of 19% compared to the previous month.
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In January-November of this year, solar power plants in Azerbaijan generated 520.2 million kWh of electricity, the monthly statistics report from the State Committee on Statistics of the Republic of Azerbaijan. According to the data, this is an increase of 457.9 million kWh (8.4 times) compared to the same period last year.
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