The president of Azerbaijan has approved regulations drafted by the recently created Ministry of Fuel and Energy, which is now responsible for all regulatory functions relating to the national energy sector.
The State Oil Fund is a non-budgetary state institution set up to accumulate and manage the nation's oil and gas revenues. Its proceeds will be used to address Azerbaijan's most pressing needs and to reconstruct the nation's strategic infrastructure, pursuant to an annual programme approved by the president of Azerbaijan.
After much anticipation, concrete steps are being taken toward the privatization of the Azerbaijani power sector. A number of regulations have been issued to enable the eventual privatization of the electrical distribution companies. A new electricity tariff system has also been introduced.
Including: Oil and Gas; Power