Baku: In the first nine months of this year, Azerbaijan allocated approximately 3.7 billion manats to its oil and gas sector.

According to Azeri-Press News Agency, this figure, specified as 3,671.6 million manats, represents a significant investment in the country’s energy sector, as reported by APA-Economics with information from the State Statistical Committee.

The data indicates a decrease of 11.5% in investments directed towards the oil and gas sector during the January-September period compared to the same time frame in 2024. This downturn marks a continued trend of reduced investment, as last year saw a total of 5,738.7 million manats allocated to the sector. When compared to the 2023 figures, this represented an 8.4% decrease in investment volume.

The reduction in funds directed to this critical sector raises questions about future energy production and economic strategy in Azerbaijan, which has heavily relied on oil and gas revenues. The decline may reflect broader changes in the global energy landscape or shifts in national priorities.