Industry
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The issue of registering more than half a million undocumented homes in Azerbaijan remains a subject of ongoing discussion. At the same time, thousands of public catering facilities (restaurants, cafés, snack bars, wedding halls, etc.), industrial enterprises, and agricultural facilities across the country occupy areas many times larger than those specified in their technical designs recorded in registration documents.
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Azerbaijan, which began actively extracting gas from the Caspian at the beginning of the 21st century, reached a peak production level in 2024, but may face a decline in production by the end of the decade due to decreasing investments in the sector and gradual depletion of the fields.
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Global gold futures exceeded $2,800 per troy ounce on January 29, setting a historic record in international trading, according to financial portal Investing.com. Notably, this price per ounce is twice the average level of 2023, reflecting growing global demand for gold as a hedge against inflation.
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SOCAR Türkiye Enerji AS (STEAS), a subsidiary of Azerbaijan's state oil company SOCAR, has announced plans to construct new facilities in Turkey for the production of ethylene, polypropylene, and polyethylene (polyolefins). This initiative comes as Turkey's demand for these products continues to grow, with the country currently importing nearly 90% of its polyolefins.
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