SOCAR president receives OPEC's Secretary General

On June 19, 2023, the President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf met with Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al Ghais, Azernews reports, citing SOCAR.

At the meeting, satisfaction was expressed with the long-term effective cooperation between Azerbaijan and OPEC, and it was stated that mutual relations are developing successfully.

It was brought to attention that the OPEC+ format created at the call of Azerbaijani President Ilham Aliyev, is of strategic importance, and in this regard, it makes a valuable contribution to the regulation of oil markets and ensuring the balance between supply and demand.

Within the framework of the meeting, the importance of sustainably increasing hydrocarbon production with clean technologies was emphasized. In this regard, it was pointed out that SOCAR attaches special importance to the application of low-emission and innovative technologies.

At the meeting, the current situation and future forecasts of the global oil markets, prospects of cooperation between SOCAR and OPEC were reviewed, and other issues of mutual interest were discussed.