Solar and wind are leading the rapid expansion of the new global energy economy: IEA
Global additions of renewable power capacity are expected to jump by a third this year as growing policy momentum, higher fossil fuel prices and energy security concerns drive strong deployment of solar PV and wind power, according to the latest update from the International Energy Agency ...
Musical flash mob held at Heydar Aliyev International Airport
An unusual flash mob was held at Heydar Aliyev International Airport on the occasion of the 85th anniversary of Azerbaijan Civil Aviation. On this significant day for civil aviation, passengers were presented with a special surprise - beautiful music and summer mood, AZAL told AZERTAC ...
Azerbaijan, Hungary discuss formation of Business Council’s composition
Fuad Humbatov, Deputy Secretary General of the National Confederation of Entrepreneurs (Employers) Organizations of the Republic of Azerbaijan (ASK) has met with Archibald Schubert, Co-chairman of the Azerbaijan-Hungarian Business Council from Hungary, Group E&P ...
Nakhchivan hosts special session on 'Nakhchivan and Eastern Zangazur: the potential of green energy'
Nakhchivan has today hosted a special session on 'Nakhchivan and Eastern Zangazur: the potential of green energy' organized by the State Oil Company of the Republic of Azerbaijan (SOCAR) on the sidelines of the Energy Forum held in Baku ...
Azerbaijani oil price exceeds $78
The Azerbaijani oil price has increased in the world markets. The price of a barrel of Azeri Light crude oil rose $1.51 to trade at $78.14. ...
Oil prices surge in world markets
Oil prices have jumped in the world markets. The London ICE (InterContinental Exchange Futures) saw the Brent crude oil rise $1.85 to trade at $76.13, while the price of the Light crude oil at the NYMEX (New York Mercantile Exchange) increased $1.64 to stand ...
Azerbaijan’s Economy Minister meets with Georgian PM
Azerbaijan’s Minister of Economy Mikayil Jabbarov has met with Prime Minister of Georgia Irakli Garibashvili. During the meeting held at the Georgian Government Administration, the pair hailed the positive dynamics of economic cooperation, discussing key areas of strategic ...
Azerbaijan, Georgia sign Memorandums of Understanding on cooperation
As part of the Georgia-Azerbaijan business forum held in Tbilisi to mark the 100th anniversary of Great Leader Heydar Aliyev, Azerbaijan and Georgia have inked Memorandums of Understanding on cooperation ...
New prospects of cooperation with bp discussed
Azerbaijan’s Economy Minister Mikayil Jabbarov has met with bp Executive Vice President for Production and Operations Gordon Birrell who is visiting Azerbaijan to participate in the Baku Energy Week ...
Fitch Ratings: World Trade Now Slowing Sharply
Fitch Ratings-London-01 June 2023: Global trade is now slowing sharply after a rapid post-pandemic recovery in 2021 and 2022, Fitch Ratings says in a new report, according to Fitch Ratings Monetary tightening, fading fiscal support and service sector reopening ...
Azeri-Chirag-Gunashli oil and gas fields produced 573 million tons of oil and 208 billion cubic meters of gas
The Azeri-Chirag-Gunashli (ACG) oil and gas fields have produced 573 million tons oil since its commissioning till 1 May 2023, said First Vice-President of Azerbaijan`s State Oil Company (SOCAR) Khoshbakht Yusifzade as he addressed the Baku Energy Forum on June 2 ...
Azerbaijani Prime Minister meets with bp delegation
Prime Minister of the Republic of Azerbaijan Ali Asadov has met with bp Executive Vice President for Production and Operations Gordon Birrell and Regional President for Azerbaijan, Georgia and Türkiye Gary Jones ...
Shah Deniz gas and condensate field produced 192 billion cubic meters of gas
Azerbaijan’s Shah Deniz gas and condensate field produced 192 billion cubic meters of gas and 41 million metric tons of condensate, until May 1 of 2022, First Vice-President of Azerbaijan`s State Oil Company SOCAR Khoshbakht Yusifzade said at the Baku Energy Forum, on June ...
® Birbank cardholders earned AZN 5.2 million cashback in May
Azerbaijan’s first digital bank, Birbank, offers a free Birbank Cashback debit card, which gives its holders many benefits. Owners of this card have the opportunity to get various bonuses for transactions. Heavy users of Birbank Cashback debit card have earned an average of AZN 42 on bonuses in May this year ...
28th Baku Energy Forum kicks off in Baku
The 28th Baku Energy Forum, as the largest event of the Caspian region, has started today at the Baku Congress Center. The forum attended by more than 600 representatives discussed new challenges to energy in the transition period, including Europe's global energy security and the role of Azerbaijan's energy sector ...
Azerbaijan to produce dredging vessel for the first
Baku Shipyard LLC, a resident of Garadagh Industrial Park, Baku International Sea Trade Port JSC and Damen Shipyards Gorinchem B.V. of the Netherlands have signed an agreement on tripartite cooperation ...
China’s Envision Energy held discussions on the creation of a zero-emission industrial park in Azerbaijan
Azerbaijan's Economy Minister Mikayil Jabbarov has met with John Lee, Vice-President of Envision Energy. Mikayil Jabbarov hailed the development of cooperative relations with Chinese businesses, provided information about the business climate and the opportunities created for ...
Azerbaijan, Romania discuss opportunities for cooperation
Azerbaijan’s Economy Minister Mikayil Jabbarov has met with Romanian Minister of Energy Virgil-Daniel Popescu. Minister Mikayil Jabbarov stressed the successful development of relations with Romania, the importance of mutual visits and meetings in expanding cooperation ...
Energy minister: Transformation of Azerbaijan into a green energy country has already begun
“Absheron, Karabakh, Umid (Stage II), Babek, Azeri-Chirag-Deepwater Gunashli (ACG) and green energy projects are listed as important sources to provide additional gas, said Azerbaijan’s Minister of Energy Pafrviz Shahbazov as he addressed the 28th Baku Energy Forum ...