S&P lowered its oil price forecast for 2025 due to an expected supply glut

Azerbaijani Energy Minister Parviz Shahbazov is on a visit to Italy, the press service of the Ministry of Energy of the Republic of Azerbaijan reports. Parviz Shahbazov will take part in the Global Energy Transition (GET) Congress and Exhibition, to be held from July 1 to 3 in Milan.

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.

The first stage of reconstruction and modernization works conducted in order to bring the products of the processing complex of the State Oil Company of Azerbaijan to Euro-5 standards is being completed at the Heydar Aliyev Oil Refinery.

“SOCAR Petroleum” CJSC has allocated a place for the construction of a gas station in Shusha, which will operate on a permanent basis. Construction work has already begun, the Special representative of the President of Azerbaijan in the Shusha region, Aydin Kerimov, told  at the event "New opportunities for entrepreneurs: Let's build Karabakh together" in Shusha.