Expensive oil amid falling demand: What the International Energy Agency’s new forecast means for Azerbaijan

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...

Azerbaijan’s non-oil and gas economy generated all of the country’s gross domestic product growth in the first half of 2026, offsetting a continued decline in the oil and gas sector. However, a sharp slowdown in non-oil growth, a contraction in...

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....

Economic Efficiency, International Competitiveness, and Development Prospects In the oil and gas industry, the value chain is conventionally divided into three stages: exploration and production, refining, and marketing. Within SOCAR's refining and...