Petroleum industry in Azerbaijan

The petroleum industry in Azerbaijan produced about 33 million tonnes of oil and 35 billion cubic meters of gas in 2022. Azerbaijan is one of the birthplaces of the oil industry.

The State Oil Company of the Republic of Azerbaijan (SOCAR), a fully state-owned national oil and gas company headquartered in Baku, is a major source of income for the Azerbaijani government. The company is run opaquely through complex webs of contracts and middlemen, which non-government watchdog organizations and others say have channeled revenues to the country's ruling elites.

This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.