SOCAR strives to become universal energy corporation

Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), has said that the company is actively working to transform itself from a purely oil and gas company into a universal energy corporation that includes renewable energy sources.

He made the remarks during Baku Investment Day (Baku ID 2024), Caliber.Az reports, citing local media.

"The company continues to produce oil and gas to ensure the energy security of Azerbaijan and the country's partners, but does so with sustainable development in mind," he said.

Najaf noted that to achieve sustainability, SOCAR is implementing decarbonisation and CO2 reduction in all its processes, starting with investment and procurement decisions.