News

Daily oil production in Azerbaijan amounted to 793 thousand barrels in January. Out of this figure 720 thousand barrels accounts for crude oil and 73 thousand barrels for condensate.

The first meeting of the Joint Technical Commission was held in order to expand energy cooperation between the Ministry of Energy of the Republic of Azerbaijan and the Ministry of Energy, Industry and Natural Resources of the Kingdom of Saudi Arabia.

The Energy Minister of Azerbaijan Parviz Shahbazov delivered a speech at the XXII Eurasian Economic Summit in Istanbul. In his welcoming speech, the Minister assessed the activity of the Eurasian Economic Summit as one of the most successful formats of cooperation promoting peace and dialogue for many years.

The XXII Eurasian Economic Summit will be held in Istanbul on February 6-7, where the Minister of Energy Parviz Shahbazov will participate among the Azerbaijani delegation.

The Memorandum of Understanding (MoU) on the development of the renewable energy sector in Azerbaijan was signed between the Ministry of Energy and Total Eren of France. The document was signed by the Deputy Minister of Energy Elnur Soltanov and Emmanuel Terroir, the Business Development Director for Caucasus at Total Eren. The Memorandum of Understanding envisages co-operation and capacity building for investment in renewable energy projects in Azerbaijan.

A meeting with the delegation led by the Senior Vice President of Equinor Eric Vaerness was held at the Ministry of Energy. Deputy Minister of Energy Samir Valiyev praised Equinor's (former Statoil) long - term activities in Azerbaijan as one of the first foreign oil companies to invest in Azerbaijan.

Future cooperation perspectives in the field of renewable energy and creation of an efficient, competitive energy market have been discussed with the delegation of the International Finance Corporation (IFC) at the Ministry of Energy.

The Ministry of Energy held a meeting with the delegation led by Thomas Baris, the Secretary of State at the Ministry of Federal Economy and Energy of the Federal Republic of Germany.

The 27th meeting of the Joint Technical Commission (JTC) of OPEC and non-OPEC countries and the 13th meeting of the Joint Ministerial Monitoring Committee (JMMC) in Baku have been agreed on.

The first meeting of the Working Group on the Pilot Project “Knowledge Exchange and Technical Assistance on the Development of Floating Solar Panels System” was held at the Ministry of Energy with the participation of Asian Development Bank, consulting company and representatives of a number of government agencies.