Azerbaijan’s SOCAR will invest $7 billion in Türkiye’s petrochemical sector, reinforcing its role as the country’s largest foreign investor.
Ankara says Azerbaijan’s state owned oil and gas company has announved significant investment in Turkiye.
Turkish Vice President Cevdet Yılmaz has hailed the move, saying it will support major growth and macroeconomic stability in the country.
He says that preliminary engineering is complete under SOCAR Türkiye’s “Master Plan,” and the government hopes the project will move forward “as soon as possible,” reiterating that every dollar of domestic output will help narrow the current account shortages.
SOCAR is Türkiye’s biggest foreign investor with over $18 billion in energy, petrochemicals, and logistics.
Its wide ranging portfolio includes Petkim, acquired in 2008, which operates 16 plants and produces 2 million tons of petrochemicals yearly, equaling about 11% of Türkiye’s output.
SOCAR states the new capacity plan, approved in December, will be implemented in phases over a 5 to 10 year period.
This industrial complex ties into Türkiye’s 2053 net-zero agenda with Yılmaz referencing R&D, including sustainable aviation fuel, as a way to decarbonize heavy industry, while lifting export competitiveness.
Yılmaz highlighted closer coordination with Baku on boosting Azerbaijani gas flows and opening the door for Turkmen gas to be transferred through Azerbaijan and Türkiye.
He also mentioned the new gas supply to Syria, routed through Türkiye, to restart power plants with 1,200 megawatts of capacity, converting gas to electricity as part of Syria’s reconstruction push.
The next steps include site selection and financing for the new complex, alongside deeper Türkiye-Azerbaijan cooperation on energy and regional connectivity.
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An investigation into a protest outside a Washington, D.C. hotel on 19 February, where President of Azerbaijan Ilham Aliyev was staying, has revealed new details, placing the incident within a broader security context.
Azerbaijani President Ilham Aliyev on Monday discussed transport links, infrastructure projects and broader economic cooperation with a high-level Iranian delegation led by Roads and Urban Development Minister Farzaneh Sadegh.
Against a backdrop of mounting environmental pressure across Central Asia, the Kazakh Ministry of Ecology and Natural Resources has announced that the Regional Ecological Summit (RES) 2026 will take place from 22–24 April in Astana.
The Baku Initiative Group hosted an international conference in Azerbaijan’s capital under the title “Neocolonialism and Global Inequality,” bringing together political movements from different parts of the world that said were still confronting both the legacy and modern forms of colonial rule.
Italy said a fond farewell to the Winter Olympics on Sunday with an open-air ceremony in the ancient Verona Arena that celebrated art and sporting achievement at a Games lauded as a model for how to stage such events.
The United States and Iran will hold a new round of nuclear negotiations in Geneva on Thursday as part of renewed diplomatic efforts to reach a potential agreement, Oman’s Foreign Minister Badr Albusaidi announced on Sunday.
Further Iran-U.S. nuclear talks are scheduled in Geneva on Thursday (26 February) as diplomacy resumes over Tehran’s nuclear programme following earlier mediation efforts. But will the talks move Iran-U.S. negotiations closer to a deal, and what should be expected from the meeting?
Mexican authorities said on Sunday that Nemesio Oseguera Cervantes, known as El Mencho and head of the Jalisco New Generation Cartel (CJNG), was killed during a military operation in the western state of Jalisco.
The European Parliament’s trade chief has urged a temporary suspension of the EU–U.S. trade agreement approval, citing “tariff chaos” following President Donald Trump’s new 15% tariffs and a U.S. Supreme Court ruling invalidating his previous global tariff programme.
An investigation into a protest outside a Washington, D.C. hotel on 19 February, where President of Azerbaijan Ilham Aliyev was staying, has revealed new details, placing the incident within a broader security context.
Four members of Syria’s Internal Security Forces were killed on Monday in an attack by the ISIS (Daesh) terrorist group targeting a checkpoint west of Raqqa in northeastern Syria, the Interior Ministry said.
Georgia says it's increasing its focus on regional connectivity and infrastructure cooperation with Armenia, as competition over new transport routes and changing political dynamics reshape the South Caucasus.
More than 661,000 citizens of Uzbekistan have registered on licensed cryptocurrency platforms, as the country continues to formalise and regulate its digital asset sector, according to the National Agency for Prospective Projects (NAPP).
Iranian President Masoud Pezeshkian has said nuclear talks with United States have “yielded encouraging signals” stressing Iran’s readiness “for any potential scenario”.
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