Petkim, the Turkey-based Petrochemical complex owned by SOCAR, Azerbaijan’s state energy company, reported a net profit of 892 million Turkish liras ($108 million) in the first quarter of 2021 compared to a net loss of 10 million liras in the same period last year, the company said in a report.

Japanese company Tokyo Electric Power Services Co., Ltd. (TEPSCO) will prepare a concept and a master plan for creating a "green energy" zone in the Nagorno-Karabakh region, Azerbaijan's Energy Ministry said.

Some analysts and a few bureaucrats still cling to what seems to be almost a warped hope that the conflict lives on.

A BP-led consortium produces oil at Azerbaijan’s giant off-shore Azeri-Chirag-Guneshli (ACG) oilfields, which account for most of the country’s oil production.