In today's world, influence in the energy sector is no longer measured solely by production volumes, Azerbaijan's Minister of Energy Parviz Shahbazov said during the first meeting of the Technical Committee of the OPEC+ Charter of Cooperation (CoC) in Baku, APA-Economics reports.
According to him, such influence is determined by secure and diversified supply routes, reliable partnerships, and uninterrupted energy supplies.
"That is why Azerbaijan's strategic importance is measured not by the volume of energy it produces, but by its ability to establish reliable connectivity between regions and markets, its contribution to the energy security of its partners, and the trust it has earned as a dependable partner. This trust is further reinforced by Azerbaijan's active participation within the OPEC+ framework," the minister said.
He noted that the key areas of cooperation, including strengthening dialogue with major oil-consuming countries, promoting technology, innovation and investment in the oil industry, enhancing cooperation on regulatory policies, improving analytical assessment of the oil market, and developing industry standards, are of particular importance for further deepening cooperation within OPEC+ and addressing future challenges.
The minister added that Azerbaijan currently exports oil to nearly 20 countries across Europe and Asia. Including condensate, the country's average daily oil production stands at 553,000 barrels, while exports amount to 445,000 barrels per day.
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