Baku, October 14, 2026 – The Europe Today: Azerbaijan’s Economic Council, chaired by Prime Minister Ali Asadov, held a meeting on Monday to review the development of the country’s oil and gas and petrochemical industries, with a particular focus on modernising oil refining and petrochemical infrastructure.
The meeting discussed prospects for further development in these sectors, alongside other pressing economic issues.
President of the State Oil Company of Azerbaijan Republic (SOCAR) Rovshan Najaf presented a detailed report on the agenda items, outlining key issues related to the development and modernisation of the oil and gas and petrochemical industries.
Following the presentation, members of the Economic Council and other invited participants exchanged views and put forward proposals on the matters under consideration.
The meeting also heard a report from Metin Eynullayev, Chairman of the Executive Board of Azerbaijan Investment Holding, on current issues related to its activities.
At the conclusion of the meeting, the Economic Council adopted relevant decisions and issued instructions to Azerbaijan Investment Holding, SOCAR and the concerned state authorities to ensure follow-up action on the issues discussed.
The meeting reflects Azerbaijan’s continued focus on strengthening its energy sector, modernising industrial infrastructure and addressing key economic priorities.
