SOCAR aims to reduce flaring to zero by 2030

Ukraine has not yet come to a ready agreement with Azerbaijan on the transit of Azerbaijani gas through the Ukrainian gas transportation system (GTS) after the end of the transit agreement with “Gazprom” at the end of 2024, which Kiev does not want to prolong,

The State Oil Company of Azerbaijan (SOCAR) intends to acquire 51% of the shares of “Azər Türk Bank” OJSC. The issue was put up for discussion at a meeting of the company's supervisory board, SOCAR's press service. At the meeting chaired by the head of the Supervisory Board, Minister of Economy Mikail Jabbarov, the purchase of 51% of shares of “Azər Türk Bank” and on further steps in this direction was presented.

The State Oil Company of Azerbaijan (SOCAR) and the largest Slovenian natural gas supply company “Geoplin” have signed a Memorandum of Understanding on expanding cooperation in the field of gas supplies. The document was signed on July 17 following talks between SOCAR President Rovshan Najaf and Slovenian Minister of Environment, Climate and Energy Bojan Kumer, the SOCAR press service.

From the start of operations (June 2001) to the end of the second quarter of this year, the revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) amounted to $ 202.1 billion.