Azerbaijani minister: National Oil Strategy promotes sustainable economic development PHOTO

Chairman of the Supervisory Board of the State Oil Company of the Azerbaijan Republic (SOCAR), Economy Minister Mikayil Jabbarov has said that spending oil and gas revenues to diversify the economy and expansion of the non-oil sector stipulates Azerbaijan’s sustainable development and increases its economic power.

Jabbarov made the remarks at an event on the occasion of “Oilman’s Day” professional holiday at the Gulistan Palace, Report informs, citing SOCAR.

He conveyed the congratulations of Azerbaijani President Ilham Aliyev on “Oilman’s Day” and emphasised that the national oil strategy, laid down by Azerbaijani national leader Heydar Aliyev and which is successfully implemented under the leadership of the president today, further strengthens the country’s international positions, contributes to the sustainable development of the economy, and plays an exceptional role in improving the well-being of the population.

Azerbaijani Minister of Energy Parviz Shahbazov, Minister of Digital Development and Transport Rashad Nabiyev, CEO of the Azerbaijan Investment Holding Ruslan Alixanov, President of SOCAR Rovshan Najaf, former CEO of BP Lord John Phillip Browne, Regional President for Azerbaijan, Georgia and Türkiye Gary Jones, Equinor’s (Statoil) former manager on Azerbaijan Tor Ivar Pedersen and other officials attended the event.