In a landmark deal State Oil company of Azerbaijan SOCAR expands its footprint beyond its traditional markets.
On January 31, 2025, SOCAR signed an agreement with Union Energy to acquire a 10% effective ownership stake in the Tamar field—one of the largest offshore gas reserves in the Mediterranean.
Located off the coast of Israel, the Tamar field has been a key supplier of natural gas to the region, playing a vital role in energy security and economic growth. This acquisition marks SOCAR’s first major investment in upstream projects in the Mediterranean.
The company says it will continue seeking strategic assets worldwide to expand its energy portfolio.
This move signals SOCAR’s ambition to establish itself as a major player in global energy markets. The Tamar field is a critical asset, and SOCAR’s entry here strengthens its presence in international energy projects.
The State Oil Fund of Azerbaijan (SOFAZ) has invested €34.5 million in Italy’s leading high-speed railway operator, Italo – Nuovo Trasporto Viaggiatori S.p.A. (Italo) by entering into agreement with the Global Infrastructure Partners (GIP), affiliated with US-based BlackRock.
The Azerbaijani Embassy in Syria has restarted its operations after 13-year break.
Azerbaijan has filed a case against Armenia at the Permanent Court of Arbitration in The Hague, accusing it of severe environmental damage during its occupation of Azerbaijani territories—a move marking the first inter-state arbitration under the Bern Convention.
The trial of Ruben Vardanyan in Azerbaijan is drawing international attention, as he faces serious charges of war crimes and terrorism, while Ukrainian lawmakers intensify their criticism over his alleged ties to the Kremlin.
On January 20, President of Azerbaijan Ilham Aliyev sat down for an exclusive interview with China’s CGTN (China Global Television Network) during the World Economic Forum in Davos.
Pope Francis remains in hospital for a fifth day due to a "complex" respiratory infection, forcing the cancellation of his scheduled Holy Year events, the Vatican announced on Tuesday.
Burundi pulls its troops from eastern Congo as M23 rebels gain ground, seizing major cities. The UN reports child executions by rebels. Thousands flee to Burundi, facing overcrowded shelters. Uganda steps in to stop militia killings.
U.S. Secretary of State Marco Rubio outlined steps to restore U.S.-Russia relations and end the Ukraine war, emphasizing diplomacy, expert negotiations, and economic opportunities. He stressed the need for compromise on sanctions and reaffirmed President Trump’s commitment to lasting peace.
Afghanistan’s economy showed growth in 2023-2024, but high poverty, unemployment, and weak demand persist. Inflation rose in December, while the trade deficit surged by 54% to $9 billion. Despite improved food exports, declines in textiles and coal exports signal ongoing economic challenges.
The iconic Dubai Fountain will close for five months starting in May for a major upgrade, enhancing its technology, choreography, and sound system. Visitors can expect a more spectacular show when it returns in October.
Russian President has invited his U.S. counterpart, along with leaders from many other countries to Moscow in May to attend the 80th anniversary of the end of World War II, which Russians refer to as the "Great Patriotic War."
Public sector strikes are causing major disruptions across Germany, including halted public transport in Frankfurt, as workers demand higher pay and better conditions.
USAID has long promoted itself as a supporter of press freedom, but reports suggest its media funding may have influenced domestic narratives in Europe and post-Soviet states. With the Trump administration freezing its grants, the agency’s role in shaping global information is under scrutiny.
A Delta Air Lines regional jet flipped upside down upon landing at Toronto Pearson Airport on Monday, injuring 18 people. Officials are investigating whether strong winds and snow played a role in the incident.
Afghanistan’s economy showed growth in 2023-2024, but high poverty, unemployment, and weak demand persist. Inflation rose in December, while the trade deficit surged by 54% to $9 billion. Despite improved food exports, declines in textiles and coal exports signal ongoing economic challenges.
A senior Hamas official has said the group will release on Saturday the six remaining hostages who are alive within the first phase of the Gaza hostage deal. In addition, four bodies will be handed over on Thursday.
Palestinian business-owners in the Jabalia refugee camp struggle to revive their daily activities despite harsh conditions. In the face of these challenges, all the business owners share a common hope: peace and stability.
Israel is set to begin negotiations on the second phase of its Gaza ceasefire deal, which is expected to include an exchange of the remaining Israeli hostages with Palestinian detainees, Foreign Minister Gideon Saar announced on Tuesday.
Pope Francis remains in hospital for a fifth day due to a "complex" respiratory infection, forcing the cancellation of his scheduled Holy Year events, the Vatican announced on Tuesday.
Burundi pulls its troops from eastern Congo as M23 rebels gain ground, seizing major cities. The UN reports child executions by rebels. Thousands flee to Burundi, facing overcrowded shelters. Uganda steps in to stop militia killings.
U.S. Secretary of State Marco Rubio outlined steps to restore U.S.-Russia relations and end the Ukraine war, emphasizing diplomacy, expert negotiations, and economic opportunities. He stressed the need for compromise on sanctions and reaffirmed President Trump’s commitment to lasting peace.
Afghanistan’s economy showed growth in 2023-2024, but high poverty, unemployment, and weak demand persist. Inflation rose in December, while the trade deficit surged by 54% to $9 billion. Despite improved food exports, declines in textiles and coal exports signal ongoing economic challenges.
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