In the 18th century during the existence of the Sheki khanate, the local population of the city was engaged in silkworm breeding, craft, and trade, which still continues to this day and earned the city a place on the UNESCO World Heritage List in 2019.

Development of the Azeri-Chirag-Guneshli (ACG) oilfield and the Shah Deniz gas field are the main energy projects in Azerbaijan.

In 2019, the country completed the construction of three new petrochemical plants producing polypropylene, carbamide and high-density polyethylene.

The average price of Azeri oil rises amid a deficit on the world oil market and fears of a reduction in oil supplies from Russia, one of the major suppliers globally.

The company's current full-year 2022 metal production from existing Gedabek operations is forecast to be between 54,000 to 58,000 gold equivalent ounces.

Urals crude is exported by both pipeline and sea. Seaborne deliveries are via two other major routes -- Primorsk and Ust Luga on the Baltic Sea and Novorossiisk on the Black Sea.

Azerbaijan is now set to produce 675,000 bpd in March and 682,000 bpd in April.

Last year, SOCAR said it planned to transport 1.209 million tonnes of oil via Russia in 2022.