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Novruz Məmmədov. azeriobserver.az
NovruzMammadovappointed chairman of the Supervisory Board of the Oil Fund
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-
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- Social
- 6 July 2018 18:53
Energy
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From January to May 2024, Azerbaijan imported 616.2 thousand tons of oil Russia, a third more compared to last year, Interfax reports. In monetary terms, the cost of imported Russian oil has also risen by almost a third — to $339 million. In total, Azerbaijan purchased 742.3 thousand tons of black gold in the first five months of this year (+18% compared to January-May 2023) for $416 million. Thus, Russia's share in Azerbaijani crude oil imports amounted to 83%.
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1.11 billion barrels of oil were produced from the “Central Azeri” platform, commissioned in February 2005, as part of the full-scale development of the Azeri-Chirag-Guneshli (ACG) field, by July 1, 2024, the State Oil Company of Azerbaijan (SOCAR), which has a 25 percent share in the ACG project.
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Yesterday, Azerbaijani Economy Minister Mikail Jabbarov held a meeting with Ahmed Moalim Figi, Somali Minister of Foreign Affairs and International Cooperation. They discussed issues related to bilateral economic relations between the countries and potential partnership opportunities in the energy sector. The parties stressed the expediency of establishing mutually beneficial economic ties between the two countries, expanding the contractual and legal framework in order to support the development of relations, as well as exchange of experience in areas of mutual interest.
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Azerbaijani gas supplies to Serbia may be increased in the foreseeable future, the parties are currently discussing this issue, the Minister of Labor and Social Protection of the Population of Azerbaijan Sahil Babayev told journalists.
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