SOCAR Supervisory Board mulls investment strategy in renewable energy production

By Azernews

By Ayya Lmahamad

A regular meeting of the Supervisory Board of Azerbaijan's State Oil Company (SOCAR) has been held, Azernews reports.

Economy Minister Mikayil Jabbarov noted that the investment strategy in renewable energy production was discussed at the meeting.

"During the meeting of the Supervisory Board of #SOCAR (@SOCARofficial), we discussed the improvement of management standards, increasing efficiency, activities of the Coordination Office of the Supervisory Board, as well as #investment strategy in #renewableenergy production," the minister wrote on his official Twitter page.

The Azerbaijani Republic's State Oil Company is involved in the exploration of oil and gas fields, the production, processing, and transportation of oil, gas, and gas condensate, the marketing of petroleum and petrochemical products in domestic and international markets, and the supply of natural gas to industry and the general public in Azerbaijan. The company owns two refineries in Azerbaijan and one in Turkey, as well as petrol station networks in Azerbaijan, Turkey, Georgia, Romania, and Switzerland.