Azerbaijan mainly produces oil on its major Azeri-Chirag-Guneshli (ACG) oilfields, the largest oil field block in Azerbaijan developed by a BP-led international consortium.

Growth is expected to decelerate to 1.7 percent in 2022, a downward revision of 2.5 percentage points relative to the forecast made in November 2021.

Fitch Ratings has affirmed the outlook on Georgia’s long-term foreign-currency Issuer Default Rating (IDR) at ‘BB’ with a Stable outlook.

The volume of attracted investments is estimated to be $1.2 billion and the efficiency of the plant is expected to be over 60 percent, which will save 1.1 billion cubic metres of natural gas annually.

Investment in the construction of a solar plant with a capacity of 230 megawatts is estimated at $225-$240 million.