Oil prices have stabilized at $89 per barrel

We have very big plans in the energy sector. Two hydroelectric power plants with a capacity of 280 megawatts are planned to be built here,  President Ilham Aliyev stated  in his speech at the ceremony of commissioning the Khudaferin hydroelectric complex and the opening of the Giz Galasi hydroelectric complex built on the Araz River. The Head of State noted that the equal sharing of energy capacities will also bring additional benefits to both countries – Azerbaijan and Iran.

The State Oil Company of Azerbaijan (SOCAR) plans to use artificial intelligence in its activities, SOCAR Vice President Afghan Isayev said  at the forum "Raising Ambitions and stimulating activities: COP29 Sustainable Business Forum".

SOCAR has outlined the transition from the status of an oil and gas company to an energy company by 2035, which involves participation in renewable energy projects, in the process of decarbonization, that is, the talk is about having a portfolio of low-carbon projects, SOCAR Vice President Afghan Isayev stated at the conference "Strengthening Ambitions, implementing actions: COP29 Sustainable Business Forum".

Harry Kemian , a Senior Adviser on Multilateral Energy Diplomacy at the Bureau of Energy Resources of the US Department of State, will visit Azerbaijan in June to participate in Baku Energy Week, the U. S. Department of State reported.