The petroleum industry in Azerbaijan produced about 33 million tonnes of oil and 35 billion cubic meters of gas in 2022.[1] 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.[2] The company is run in an opaque manner, as it has complex webs of contracts and middlemen that non-government watchdog organizations say have led to the enrichment of the country's ruling elites.[2]
- ^ "Overview – Azerbaijan energy profile – Analysis". IEA. Retrieved 2024-10-13.
- ^ a b Altstadt, Audrey L. (2017). Frustrated Democracy in Post-Soviet Azerbaijan. Columbia University Press. pp. 114–120. ISBN 978-0-231-80141-6.