Prices for AI-92 gasoline and diesel fuel have been increased in Azerbaijan
Prices for AI-92 gasoline and diesel fuel have been increased in Azerbaijan
Starting from July 1, 2024, the retail price of Ai-92 gasoline has been increased by 10 gapiks to 1.10 manats per liter, the Tariff (Price) Council of Azerbaijan announced.
According to the Tariff Council, the retail price of diesel fuel has also been increased in the country by 20 gapiks to 1 manat per liter.
The Tariff Council believes that prices for fuel produced according to the Euro-5 environmental standard have been regulated in Azerbaijan. “The increase in the cost of diesel fuel and gasoline Ai-92, produced in our country in full compliance with the Euro-5 standard, necessitates an increase in prices for these products,” the statement of the Tariff Council.
The Tariff Council notes that in this regard, based on a request from the State Oil Company of the Republic of Azerbaijan (SOCAR) at a meeting of the Tariff Council held on June 29, the price of gasoline and diesel fuel Ai-92 was adjusted.
Energy
-
The COP29 conference revealed significant divisions between wealthy governments, with limited domestic budgets, and developing countries. The European Union, the United States, and other developed nations raised their climate financing offer for developing countries to $300 billion per year during COP29 last Saturday, attempting to break the increasingly tense negotiations.
-
On November 23, President Ilham Aliyev signed a decree to improve governance in electricity and water supply management and address related issues. According to the decree, the Cabinet of Ministers of the Republic of Azerbaijan must take necessary steps within a month to transfer the functions of the State Energy Agency of the Nakhchivan Autonomous Republic (NAR) to the state-owned companies Azerenergy (the state monopoly for electricity production and transportation) and “Azerishig” (the state monopoly for electricity distribution).
-
Azerbaijan currently exports oil to approximately 30 countries, and by December, the number of countries importing Azerbaijani gas is expected to reach 12, Azerbaijan's Energy Minister announced on November 22 in Istanbul during the energy forum at the session titled "Challenges and Opportunities for a Sustainable Future." However, the minister did not reveal the names of the new gas importers. At present, 10 countries officially import Azerbaijani gas: Georgia, Türkiye, Greece, Italy, Bulgaria, Romania, Hungary, Serbia, Croatia, and Slovenia.
-
Azerbaijan's oil production is expected to reach 640,000 barrels per day in 2025, according to forecasts from the International Energy Agency (IEA). The IEA has kept its oil production forecast for Azerbaijan unchanged from its previous assessment made last month. The agency predicts that Azerbaijan’s oil production will start at 610,000 barrels per day in the first quarter of 2025, increase to 630,000 barrels per day in the second quarter, and reach 650,000 barrels per day in the third quarter.
Leave a review