The oil and gas sector revenues to the state budget of Azerbaijan accounted for 32.4%

The first seismic exploration at the Azeri-Chirag-Deepwater Gunashli (ACG) field, which began in January 2024, completed ahead of schedule and with a budget less than planned, a letter from BP Regional President for Azerbaijan, Georgia and Türkiye  Gary Jones addressed to Azerbaijani Prime Minister Ali Asadov on the occasion of the completion of the first stage of the seismic research program at the field using new four-dimensional (4D) high-precision marine sensors.

The government of Azerbaijan has stopped regulating the cost of road bitumen in the domestic market since August 1. Deregulation may cause higher prices against the background of active demand for bitumen from local road construction companies, market participants believe.

In January-June 2024, the reserves of commercial natural gas in Azerbaijan amounted to 21 billion 870.9 mcm, taking into account the remaining reserves at the beginning of the year, the report of the State Statistics Committee of the Republic of Azerbaijan. According to the data, in the first half of the year, 27.5% of commercial volumes of natural gas were consumed, and 59.8% were exported, 10.2% of the volumes were reserves at the beginning of July, another 2.5% accounted for technical and commercial losses (546.77 mcm.)

Yesterday, the first meeting was held in Bilasuvar to assess the actual situation with preparatory work for the construction of a 445 MW solar power plant, which will be built by the UAE company “Masdar.” The meeting was organized in the executive power of the Bilasuvar region with the participation of specialists from “Masdar”, WSP, the Asian Development Bank, the Asian Infrastructure Investment Bank, the European Bank for Reconstruction and Development, and the State Oil Company of Azerbaijan (SOCAR).