Oil in 2023 will be traded in the range of $70-100/bbl.

Hungarian company MVM Group has completed the acquisition of a 5% share in the “Shah Deniz” gas field development project from CJSC "Cenub Qaz Dehlizi" (CQD) and a 4% share in South Caucasus Pipeline Company (SCPC) from Azerbaijan Gas Supply Company Limited (AGSC).

A presentation of a small solar power plant  (450 kW), which has been operational for a month, took place  last  Saturday in the village of Savalan, Gabala region. The plant was constructed by Azerbaijani private company SEES, which specializes in installing solar panels for both industrial facilities and private homes. SEES CEO Vugar Shahmurov noted that the equipment is sourced from leading global manufacturers, with solar panels having a factory warranty of 15 years and a production lifespan of 30 years.

The Armenian Nuclear Power Plant was disconnected from the national energy system due to a system failure caused by a lightning strike, Armenia's Ministry of Territorial Administration and Infrastructure spokesperson Sona Arutyunyan reported.

Kazakhstan's Energy Minister Almasadam Satkaliyev met with leaders of Chinese companies CNPC (China National Petroleum Corporation) and State Power Investment Corporation in Beijing to discuss prospects for cooperation in the oil and gas sector, including long-term gas supplies to China.