SOCAR and “Geoplin” signed a Memorandum on gas supplies

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) aims to reduce flaring to zero by 2030, the head of the department of the State Oil Company of Azerbaijan Mustafa Gurbanli  stated during a media tour to the SOCAR Ecological Park, organized for media representatives on the occasion of National Press Day and the 30th anniversary of the Contract of the Century. He noted that in this regard, SOCAR is measuring its emissions, exploring issues of wind, solar energy and "green hydrogen".

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.