SOCAR intends to acquire 51% of shares of “Azər Türk Bank”

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) 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.

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.