Oil Prices Declining, Azerbaijan Ready to Reduce Production by OPEC+ Decision

On September 20, the 30th anniversary of the "Contract of the Century" was commemorated in Baku. This was Azerbaijan's first international oil agreement with foreign investors, which ushered in a new era of economic development for modern Azerbaijan. The celebration of this significant milestone in oil contracts was neither pompous nor overshadowed by the fact that the country's oil production is declining.

Baku Oil Refinery named after Heydar Aliyev (BNEZ) of the Azerbaijan State Oil Company (SOCAR) plans to start production of gasoline conforming to Euro-5 environmental standards this month.

The 29th International Energy Forum was held in Baku, and almost all speeches indirectly or directly included the topic of COP29 - the 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate, which will be hosted by the capital of Azerbaijan in November this year.

The projects Info-communication Technology (ICT), High Technology (HT), and finally Digital Development (DD) seem to help the survival of many sectors of the world's economy, although the introduction of these digital technologies requires the competence of countries to ensure equal accessibility to a billion inhabitants of our planet, to provide high-quality services to the communications sector (CS).