British oil major BP plans several maintenances on oil and gas platforms in Azerbaijan in 2021. 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. Another international consortium that is also led by BP produces natural gas at the major Shah Deniz field.

The European Union (EU) has accepted Uzbekistan as a beneficiary country of the special incentive arrangement for sustainable development and good governance (GSP+)  in a move recognising the country's ongoing reforms.

Moody's Investors Service ("Moody's") has changed the outlook of Azerbaijan's State Oil Company (SOCAR) to positive from stable.

Abu Dhabi Future Energy Company PJSC (Masdar), one of the leading renewable energy companies in the world, plans to invest $200 million in the construction of a solar power plant in Azerbaijan, the ex-Soviet country's energy ministry said.

On April 8, Russian President Vladimir Putin called the head of Azerbaijan Ilham Aliyev.  As reported by the press services of both presidents, the parties discussed the situation around Nagorno-Karabakh, and further stabilization in accordance with the Statements of the leaders of Russia, Azerbaijan and Armenia dated November 9, 2020 and January 11, 2021, according to news agency Turan.

Companies from Uzbekistan and Russia agreed to implement 33 projects worth $2.2 billion in various sectors of Uzbekistan’s economy following a three-day visit of the biggest ever Russian business delegation to the Central Asian country. Russia is Uzbekistan's second largest trade partner and the ties between Moscow and Tashkent have warmed up since President Shavkat Mirziyoyev came to power four years ago. Last year Uzbekistan obtained observer status at the Russia-led Eurasian Economic Union.