Azerbaijan

Azerbaijan's oil output fell by 4.8% to 24.1 million metric tons in the first 10 months of 2024, from 25.3 million heaps a year previously, the Energy Ministry said on Monday. Production of oil in Azerbaijan has been decreasing for several years as the output at Azeri-- Chirag-- Gunashli complex of offshore oilfields, run by BP, has passed its peak. Azerbaijan belongs to the OPEC+ group of leading oil producers, which has actually been curbing output to prop up costs. According to a report published by Ministry Energy on Monday, Azerbaijan's oil production in October edged up to 484,000 barrels...

World leaders are speaking at the U.N. environment top in Baku on Wednesday. Here are the latest comments: ALBANIA PRIME MINISTER EDI RAMA I chose to leave aside my well prepared speech since ... the other day I was enjoying the silent TV in the leaders' lounge, where the organizers have attentively included green plants above the comfortable couches. People there consume, consume, satisfy, and take pictures together, while images of voiceless speeches from leaders use and on and on in the background. To me, this seems precisely like what occurs in the real world everyday. Life goes on with...

The heads of the World Bank and International Monetary Fund on Tuesday stated they would deal with the incoming U.S. president, Republican Donald Trump, highlighting the value of private sector funding for establishing nations struck by environment modification. IMF chief Kristalina Georgieva informed a panel during the U.N. COP29 climate summit in Azerbaijan that the global lending institution had dealt with Trump during his previous term and eagerly anticipated doing so again. They have a mandate from the American people, she said. Asked about the impact of Trump's election on the IMF's. environment work, Georgieva stated she was positive that...

World leaders are speaking at the U.N. climate top in Baku on Tuesday where United Nations Secretary General Antonio Guterres has actually informed them to pay up to prevent climateled humanitarian catastrophes. Here are the latest remarks: UNITED NATIONS SECRETARY-GENERAL ANTONIO GUTERRES The sound you hear is the ticking clock. We are in the final countdown to limit worldwide temperature level rise to 1.5 degrees Celsius (2.7 degrees Fahrenheit) and time is not on our side. Doubling down on fossil fuels is unreasonable. The clean energy transformation is here. No group, no organization, and no federal government can stop it....

The yearly U.N. environment top kicked off Monday with countries preparing for hard talks on finance and trade, following a year of weather condition catastrophes that have pushed developing nations in their needs for climate money. Here's what the summit leaders had to say at the opening ceremony: COP29 PRESIDENT MUKHTAR BABAYEV Colleagues, we are on a road to ruin. However these are not future problems. Environment change is currently here. Whether you see them or not, people are suffering in the shadows. They are passing away in the dark and they need more than compassion, more than prayers and...

The annual U.N. climate top kicked off Monday with nations preparing for difficult talks on finance and trade, following a year of weather disasters that have actually pushed establishing nations in their demands for climate money. Here's what the top leaders had to say at the opening event: COP29 PRESIDENT-ELECT MUKHTAR BABAYEV Colleagues, we are on a road to destroy. But these are not future issues. Environment modification is currently here. Whether you see them or not, individuals are suffering in the shadows. They are dying in the dark and they need more than empathy, more than prayers and documentation....

Azerbaijan and Kazakhstan are going over increasing the transit of Kazakh oil through Azerbaijan to 57 million tonnes, an official at Azerbaijan's. stateowned oil business SOCAR said on Thursday. Kazakhstan is attempting to decrease reliance on Russia with. regard to its energy exports, as most of Kazakhstan's flow of. 1.5 million barrels daily or 1.5% of worldwide supply go by means of. various Russian pipelines. We are presently performing negotiations with the Kazakh. side about increasing oil transit from this country to 5-7. million tonnes, stated Zaur Gakhramanov, an advisor to SOCAR's. president. Azerbaijan plans to open an oil terminal...

U.N. SecretaryGeneral António Guterres stated Wednesday that countries need to face not just the fossilfuel industry, however likewise companies that support efforts to obstruct climate action. The U.N. chief, a long time critic of oil and gas companies' function in driving environment change, called the market out for spending billions on distorting the fact, deceiving the public, and sowing doubt about environment change, while investing just a meager 2.5% of its total capital on clean energy alternatives. He went further in a speech at the American Museum of Nature in New york city, criticizing banks along with media and public...

Hungarian stateowned energy corporation MVM will buy a 5% stake in Azerbaijan's Shah Deniz gas field, it said in a statement on Wednesday. Hungary, a landlocked nation, has been importing natural gas primarily from Russia even after its intrusion of Ukraine in 2022, which led many European nations to look for option sources of energy materials. Obtaining a stake in this gas field offers us (Hungary) a. defense from big energy cost swings, Hungarian Foreign. Minister Peter Szijjarto stated previously in the day in Baku during. a joint press conference with his Azeri counterpart, revealing. the acquisition. As Azerbaijan is...

Turkey and Azerbaijan have actually agreed to extend their natural gas supply agreement, due to end at the end of this year, till 2030, and to provide Turkmen gas to Turkey, Turkish Energy Minister Alparslan Bayraktar said on Tuesday. The extended Azerbaijan-Turkey gas deal covers the delivery of 3.5 billion cubic metres (bcm) of natural gas per year to Turkey until 2030, a SOCAR official told in Baku. In addition to the accord in between Turkey's state gas grid operator BOTAS and the Azeri gas supply business, 4 contracts were signed between BOTAS and Azerbaijan's state oil company SOCAR for...

A helicopter carrying Iranian President Ebrahim Raisi and his foreign minister crashed on Sunday as it was crossing mountain terrain in heavy fog, an Iranian authorities told , and rescuers were struggling to reach the website of the incident. The official stated the lives of Raisi and Foreign Minister Hossein Amirabdollahian were at danger following the helicopter crash, which occurred en route back from a visit to the border with Azerbaijan in Iran's northwest. We are still enthusiastic however information coming from the crash site is very concerning, the authorities informed , speaking on condition of anonymity. State TV estimated...

Urals petroleum differentials firmed to outdated Brent on Friday in the middle of softer freight rates for the grade's shipments to Asia. Urals differentials to outdated Brent in northwest Europe firmed by some 70 cents per barrel to discounts above minus $13. per barrel, computations reveal. Discounts for 140-tonne Urals cargoes in the Mediterranean. have actually narrowed by some 25 cents and stand above minus $10 per. barrel to Brent. Freight rates for Aframax ships, which usually fill some. 720,000 barrels of Urals crude in Primorsk or Ust-Luga for a. one-way trip to Indian ports, alleviated to average some $7...

The European Union, U.S. and other rich nations at the COP29 summit have actually accepted raise their deal to $300 billion each year by 2035 to help developing countries handle climate modification, sources told Reuters on Saturday, after a previous proposal was dismissed as insultingly low. The top had been because of end up on Friday but encountered overtime as arbitrators from almost 200 countries - who need to embrace the offer by agreement - tried to reach agreement on a. climate funding plan for the next years. The shift in position followed a $250 billion proposition for. a deal,...

OPEC Secretary General Haitham Al Ghais on Wednesday informed the COP29 climate top in Baku that petroleum and gas were a gift from God, and that international warming talks should concentrate on cutting emissions not selecting energy sources. His words echoed those of Azerbaijan President Ilham Aliyev, who utilized his opening address to the top to hit back at Western critics of his nation's oil and gas industry, and also explained those resources as a present from God. They are undoubtedly a present of God, Al Ghais, a veteran Kuwaiti oil executive, said in a speech at the conference. They...

Turkish President Tayyip Erdogan said on Tuesday that Turkey refused to permit Israeli President Isaac Herzog to utilize its airspace to participate in the COP environment top in Azerbaijan, highlighting Ankara's position in the middle of stress with Israel. We did not allow the Israeli president to use our airspace to attend the police officer summit. We recommended alternative routes and other alternatives, Erdogan informed press reporters at the G20 Summit in Brazil. Herzog wound up cancelling the go to. Because of the scenario evaluation and for security factors, the President of the State has actually decided to cancel his...

Diplomatic tensions over global warming will take spotlight at the G20 summit in Brazil this week, as arbitrators at U.N. talks in Azerbaijan hit a deadlock on environment financing that they hope leaders of the world's 20 major economies can break. Heads of state showing up in Rio de Janeiro on Sunday for the G20 top will invest Monday and Tuesday resolving concerns from poverty and appetite to the reform of global institutions. Still, the ongoing U.N. climate talks have tossed a spotlight on their efforts to take on global warming. While the COP29 summit in Baku, Azerbaijan, is charged...

The U.N.'s environment chief called on leaders of the world's biggest economies on Saturday to send out a signal of assistance for global climate financing efforts when they satisfy in Rio de Janeiro next week. The plea, made in a letter to G20 leaders from UN Framework Convention on Environment Change Executive Secretary Simon Stiell, comes as arbitrators at the COP29 conference in Baku battle in their negotiations for a deal planned to scale up money to address the aggravating impacts of worldwide warming. Next week's top must send out crystal clear global signals, Stiell stated in the letter. He...

A group of previous leaders and environment experts stated the annual U.N. police officer environment talks were no longer suitable for purpose and required to be reformed, publishing a. crucial open letter midway through what has actually up until now been a. fractious summit. Almost 200 nations are gathered in Baku, Azerbaijan with a. main goal of agreeing a new target for how much money needs. to be provided to assist developing nations adjust to climate. modification and recuperate from harmful weather condition. So far those talks have made little progress. Delegates struggled for hours on the opening day to...

Countries at the COP29 top attempted to make progress on how to raise approximately $1 trillion in environment finance for the world's most vulnerable, as political tensions overshadowed the talks and Argentina on Thursday pulled its delegation from Baku. The success of this year's U.N. environment summit hinges on whether countries can agree on a new finance target for richer countries, development loan providers and the economic sector to deliver each year. Developing countries require at least $1 trillion annually by the end of the years to manage climate modification, economic experts told the U.N. talks. Many countries have stated...

Pay now to assist poorer nations cope with climate change or pay more later, arbitrators were cautioned on Thursday as experts stated poor states need a minimum of $1 trillion each year by the end of the decade to relocate to greener energy and secure versus severe weather. Cash is a main focus of the COP29 environment talks being held in Azerbaijan and the success of the top is most likely to be evaluated on whether nations can concur a new target for how much richer nations, development lenders and the private sector should offer each year to developing nations...

Pay now to help poorer nations deal with environment modification or pay more later, negotiators were alerted on Thursday as specialists stated bad states require a minimum of $1 trillion per year by the end of the years to transfer to greener energy and safeguard against extreme weather. Cash is a main focus of the COP29 environment talks being kept in Azerbaijan and the success of the summit is likely to be evaluated on whether countries can concur a brand-new target for just how much richer countries, development lending institutions and the private sector must supply each year to developing...

Refugees need to be included in climate policy, actor and UNHCR goodwill ambassador Theo James has said as he heads to COP29 to call for greater assistance for those impacted by the impact of climate change. James, whose grandfather was a refugee who fled Greece for Syria throughout World War Two, will sign up with the U.N. refugee company and refugee advocates at the environment top in Baku. The Gentlemen and Divergent actor travelled to Mauritania's southeastern Hodh Chargui region last month, meeting refugees who had actually run away dispute in Mali for a location currently dealing with hardship, restricted...

The annual U.N. climate summit began Monday with countries readying for tough talks on financing and trade, following a year of weather disasters that have emboldened developing nations in their demands for climate money. Here's what the top leaders needed to state at the opening event: COP29 PRESIDENT MUKHTAR BABAYEV Colleagues, we are on a roadway to destroy. However these are not future problems. Climate change is currently here. Whether you see them or not, people are suffering in the shadows. They are dying in the dark and they need more than compassion, more than prayers and documentation. They are...

With U.N. climate talks dealing with complicated topics from energy policy to global monetary help, the annual top has actually established its own evergrowing lexicon. Here's a guide to some of the terms in play at this year's. COP29 discussions. UNFCCC: This acronym represents the United Nations. Structure Convention on Environment Modification, which is the name of. both the 1992 treaty dedicating almost 200 countries to eliminating. worldwide warming and the secretariat established to execute that. treaty. POLICE: This acronym means Conference of Parties, and. explains the yearly top of nations that have actually signed the. UNFCCC treaty. This year's...