Minister: Directing oil and gas revenues to diversify economy increases Azerbaijan’s power

Directing oil and gas revenues to diversify Azerbaijan’s economy and expand the non-oil sector determines the sustainable development of the country and increases its economic power, Chairman of the SOCAR Supervisory Board, Minister of Economy Mikayil Jabbarov said at an event on the occasion of the professional holiday “Oilman’s Day” in the Gulistan Palace, Report informs referring to Azerbaijan’s State Oil Company (SOCAR).

He conveyed the congratulations of President Ilham Aliyev on the “Oilman’s Day” and emphasized that the national oil strategy, laid down by national leader Heydar Aliyev and successfully implemented today under the leadership of the head of state, further strengthens the country’s international position, contributes to the sustainable development of the economy and plays an exceptional role in increasing level of material well-being of the population.

The event was also attended by Minister of Energy Parviz Shahbazov, Minister of Digital Development and Transport Rashad Nabiyev, CEO of the Azerbaijan Investment Holding Ruslan Alikhanov, President of SOCAR Rovshan Najaf, former CEO of BP John Browne, the regional president for Azerbaijan, Georgia and Türkiye Gary Jones, former Equinor Azerbaijan President Tor-Ivar Pedersen and other officials.