Azerbaijan’s Non-Oil Economy Offset the Decline in the Oil and Gas Sector, but Growth Slowed

SOCAR’s 2025 figures portray a company of enormous scale, but they do not settle the question of earnings quality. Azerbaijan’s state oil company generated AZN 86.3bn — about $50.8bn — in revenue, yet ended the year with net profit of roughly AZN...

A decline in global consumption will not necessarily make oil cheaper immediately. As long as the Strait of Hormuz remains closed, supply is falling faster than demand. For Azerbaijan, this means a temporary increase in export revenues, but it does...

GL Group, Azerbaijan’s first private oil and gas group, announced on July 23 that it had completed the acquisition of production assets at four oil and gas fields located near Midland, Texas. As a result of the transaction, the company acquired more...

The first half of 2026 marked a period of cautious optimism for Azerbaijan's industrial sector. Following mixed performance last year, many manufacturing industries returned to positive growth, while several sectors posted impressive recovery rates....