Baku: A notification has been officially sent to the US, stating that the United States Agency for International Development (USAID) lacks a legal basis for its activities in Azerbaijan and must cease operations. This was conveyed by Aykhan Hajizada, the press secretary of the Azerbaijani Foreign Ministry, in response to an inquiry from APA. According … Read more
Baku: BP has announced its plan to drill five production wells this year at the Azeri Central East (ACE) platform, which is part of the Azeri-Chirag-Guneshli (ACG) oil field. Russell Morris, BP’s Vice President for Wells in Azerbaijan, Georgia, and Trkiye, shared this information with journalists, as reported by APA-Economics. According to Azeri-Press News Agency, … Read more
Baku: More than 15 enterprises are currently under construction in industrial parks located in the liberated areas, as part of an ongoing effort to attract investors and establish new industrial ventures, Seymur Adigozelov, Chairman of the Board of the Agency for Development of Economic Zones under the Ministry of Economy of Azerbaijan, announced during a … Read more
Baku: The revenue from the equity portfolio of the State Oil Fund of Azerbaijan (SOFAZ) amounted to $6.3 billion by the end of 2024, which is a 1.5% decrease compared to the third quarter of the previous year, SOFAZ said in response to APA’s inquiry. According to Azeri-Press News Agency, the Fund has invested $7.1 … Read more
Baku: Work is being carried out to establish 24 agroparks on an area of 66.3 thousand hectares in 22 districts of Azerbaijan, Seymur Adig¶z?lov, Chairman of the Board of the Agency for the Development of Economic Zones said, APA-Economics reports. According to Azeri-Press News Agency, 23 agroparks have already started operating, and construction and installation … Read more
Baku: BP plans to expand its investment opportunities in the Caspian region, said Russell Morrice, BP’s vice president wells, Azerbaijan, Georgia, and Trkiye region, at the “IADC Drilling Caspian 2025” drilling conference held in Baku, APA-Economics reports. According to Azeri-Press News Agency, Morrice highlighted BP’s ongoing commitment to the Caspian region, emphasizing the company’s active … Read more
Lankaran: Intense rainfall has led to flooding in the city of Lankaran and the surrounding villages of Girdani, Kosalar, and Shilevar, resulting in the evacuation of 22 people. The situation has been confirmed by the “112” hotline of the Ministry of Emergency Situations, which reported the severe weather conditions affecting these areas. According to Azeri-Press … Read more
Baku: The value of the listed shares of the State Oil Fund of Azerbaijan (SOFAZ) by the end of 2024 was reported to be $13.4 billion, as stated by SOFAZ to APA-Economics. According to Azeri-Press News Agency, the report highlighted that the top ten companies in which SOFAZ has invested the most continue to be … Read more
Kahramanmaras: Two years ago, the Azerbaijani people woke up to shocking news when a powerful earthquake struck southern Trkiye, affecting cities and towns such as Kahramanmaras, Hatay, and Gaziantep. The scale of destruction and the loss of life were staggering. From the onset, both the Turkish state and its people demonstrated remarkable solidarity, working together … Read more
