Market

Baku: SOCAR and Gran Tierra Energy Inc. have formalized an Exploration, Development and Production Sharing Agreement (EDPSA) for an onshore prospective area in the Guba-Khazaryani region of Azerbaijan. The agreement marks a significant collaboration b…

New york: The price of gold futures per one troy ounce (31.1 grams) has increased on commodity markets, APA-Economics reports. Based on the exchange data, the price of April 2026 gold futures per one troy ounce on the New York COMEX commodity exchange…

Baku: The price of Azerbaijan’s ‘Azeri Light’ (CIF) crude oil has increased on global markets, APA-Economics reports. The price of one barrel of Azerbaijani oil rose by $2.03, or 2.95%, reaching $70.95.

According to Azeri-Press News Agency, the prev…

Baku: BP, as the operator of the Azeri-Chirag-Gunashli (ACG) oil field and the Shah Deniz gas field, has today renewed its contract with Turan Drilling and Engineering Company LLC – a joint venture between SOCAR AQS and the U.S.-based Helmerich and Pa…

Baku: GDP growth in Azerbaijan is projected to reach 2.1% in 2026, as stated by IMF Advisor and Head of the Article IV Mission to Azerbaijan, Anna Bordon, according to APA-Economics reports. Bordon highlighted that this growth will occur amidst ongoin…

Baku: Staff of the International Monetary Fund (IMF) have completed the 2026 Article IV mission to Azerbaijan.

According to Azeri-Press News Agency, the mission, led by Ms. Anna Bordon, visited Baku from February 4 to 17, 2026. The purpose of the v…

Baku: Azerbaijan has been correctly prioritizing economic diversification, according to Anna Bordon, IMF Advisor and Head of the Article IV Mission to Azerbaijan, APA-Economics reports. Bordon highlighted the nation’s strategic focus amidst a slowdown…

Tbilisi: Georgia’s electricity imports from Azerbaijan have experienced a significant decrease. In January this year, Georgia imported 4.90 million kilowatt-hours of electricity from Azerbaijan, as reported by APA’s local bureau, citing the Georgian S…

Baku: Azerbaijan is set to expand its definition of subsoil use by including the utilization of sediments and rocks from reservoirs and construction activities. This development was reported by APA, highlighting the ongoing legislative discussions wit…