Saturday, 29 August 2026 · World
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EUROS The World Financial Report
Nº 49 Saturday, 29 August 2026 · World Edition
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Commodities

Oil-Rich Azerbaijan Bets Big on a Clean Energy Boom

Oilprice.com · 1h ago
Oil-Rich Azerbaijan Bets Big on a Clean Energy Boom

Azerbaijan is one of the world’s oldest oil producers and exporters, having pumped crude since the mid-19th century, and remains a major global oil producer. It has long relied on oil and gas to meet its energy needs and as a major economic contributor. However, the host of the 29th UN Climate Change Conference (COP29) in 2024 is now looking to diversify its energy mix by deploying more renewable energy capacity. Natural gas contributed 67 per cent of Azerbaijan’s energy supply in 2023, while oil and oil products accounted for 31.1%…

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