Ilham Aliyev: Azerbaijan always supports rule of law, norms of international law

Ilham Aliyev: Azerbaijan always supports rule of law, norms of international law

Baku, Azerbaijan, Jan. 29


President of the Republic of Azerbaijan Ilham Aliyev was interviewed by Russia-1 TV channel in Davos on Jan. 21. Russia-1 TV channel broadcast the interview on Jan. 28.

President Aliyev answered the questions on the sidelines of the World Economic Forum in Davos.

Thank you very much for agreeing to answer our questions. What situation should we expect in the oil market and what could the prices be this year?

I think that everything will depend on how the agreements countries have reached within the OPEC+ format are implemented. Azerbaijan, for its part, has taken the necessary measures and made commitments to reduce oil production, and we are honoring these obligations. Therefore, I think that if all countries take a responsible approach to this issue, then the price will probably remain in today's range of $60-$70 per barrel. Although it is very difficult to make a prediction for the whole year, I think, and according to most analysts, this range may be realistic and also most suitable for companies, for exporting countries and for consumers.

At the end of last year, it was reported that American oil and gas companies decided to leave Azerbaijan after 25 years. What could be the reason for this decision and who can replace them?

This practice existed before. As you noted, Azerbaijan has been successfully working with international companies on the exploration and development of major oil and gas fields in the Azerbaijani sector of the Caspian Sea for 25 years. Over the years, some companies have sold their shares and others bought them. So it is a natural process.

I have to say that Azerbaijan's oil and gas projects are very profitable. Over the past 15 years, about $250 billion have been invested in our economy. Half of this investment is foreign and most of it was channeled into the oil and gas sector. Export oil and gas pipelines were also built, allowing us the opportunity to transport our oil in many directions. Therefore, the profitability of oil and gas projects is increasing today, of course. Each company has its own investment policy and strategy. Some prefer to leave a project by selling its shares.

Over 25 years, our main energy partners have long recovered all their costs and made a major profit. Therefore, I think that the decision of American companies to sell their shares is quite natural, and who will buy them will depend on who they offer them to. Of course, Azerbaijan as a host country of resources has the right to approve or reject these transactions. But, as a rule, all previous transactions have been approved by us.

It seems that the main rule in the world is the absence of any rules in relations between countries and in international trade. How dangerous is this?

You know, when decisions of international organizations are not executed or are executed selectively, when resolutions of the UN Security Council are also executed on a selective basis – in some cases in a matter of days and in some cases they remain on paper for more than 20 years – of course, all this leads to the devaluation of the international world order.

And the absence of rules or their violation is certainly fraught with consequences. In other words, trust is undermined and the level of interaction between countries is reduced. In fact, this leads to conflicts, to certain difficulties and tensions in relations between many countries. Therefore, the mechanism that has been developed, whether it is good or bad, exists. This applies to international relations, this also applies to economic issues and issues related to investment.

And we, Azerbaijan, are a country that always supports the rule of law and compliance with the norms of international law, including rigorous implementation of all decisions and resolutions of leading international organizations. Therefore, of course, it is sad to observe the present-day picture. This concerns, as I said, both international issues and the issues related to economic ones. Trust is undermined, predictability is undermined and it becomes more difficult to do business.

But again, returning to our country, I must say that both in international issues and in the fulfillment of our obligations under all contracts and investment projects, we are always fully committed to the letter and spirit of the documents we have signed.

Thank you very much!

Thank you!

Kazakh president says current coronavirus situation 'alarming'
Kazakh president says current coronavirus situation 'alarming'
Kazakh KazMunayGas subsidiaries sign various agreement to substitute import
Kazakh KazMunayGas subsidiaries sign various agreement to substitute import
Turkey sees growth in number of tourists from Kazakhstan
Turkey sees growth in number of tourists from Kazakhstan
Loading Bars
Pompeo will take part in signing of US peace deal with Taliban - Trump
Iran rejects BBC Persian report of at least 210 coronavirus deaths
Coronavirus vaccine could be available in 90 days - Israeli scientists
Protesters start fire near Paris Gare De Lyon railway station
Report on occupation of Nagorno-Karabakh circulated as official UN document
15 killed, over 30 injured after train hits bus in southern Pakistan
Over 4,000 Azerbaijanis already expelled from Armenia before 1988 Sumgayit events - historian
Alessandra Todde: Purpose of Italy-Azerbaijan co-op - to strengthen activities in energy sector
Some Azerbaijani citizens still visit Iran despite warnings
ICRC reps once again visit Azerbaijani hostages
Iranian parliament suspends activity
Azerbaijani energy minister talks completion of last project within SGC
Nationwide school closure in Iran extended due to coronavirus spread
Turkmenistan to introduce e-document management system by 2021
Southern Gas Corridor at completion stage - Klaus-Dieter Borchardt
Uzbekistan plans to sell shares of some large enterprises
Azerbaijan's Faydali looking to expand manufactured goods range
People arriving in Azerbaijan checked in two stages - Coronavirus headquarters
Use of financial technologies increasing in Azerbaijan
Three quarantine zones created in Azerbaijan due to coronavirus threat
Azercell - proud partner of National Olympic Committee, National Olympic Team (PHOTO)
TRACECA reviews plans on modernization of transport, logistics infrastructure
Аnkara may close Turkish gulfs to Russian ships – media
Witness of events: Armenians beat and insulted Azerbaijanis even before Sumgayit events
Global oil & gas industry deals down in value
State Oil Fund of Azerbaijan talks currency distribution of investment portfolio
Presenting one of highest papal awards to First VP Mehriban Aliyeva is victory of Azerbaijani multiculturalism: Russian MP
UAE interested in developing Turkmenistan’s biggest gas field
Georgia suspends freight transportation to Italy and Iran amid coronavirus outbreak
Cargo transshipment volume via Turkish Karabiga port revealed
Volume of diesel fuel transshipment via Turkish ports disclosed
Coronavirus hotline created in Azerbaijan
Money supply in Azerbaijan increases
Gaffney, Cline & Associates analyzes new geophysical data in Turkmen part of Caspian Sea
Bulgaria approves draft labor migration agreement with Turkmenistan
Kazakh president says current coronavirus situation 'alarming'
Georgia’s Kutaisi International Airport to increase number of passengers
Turkmen deputy prime minister expected to to visit Qatar
Official talks about possible quarantine of entire Iranian cities due to coronavirus
Member of Tehran City Council: up to 15,000 people might be infected with coronavirus in Iran
Iran sees little success battling coronavirus; disease continues to spread
Coronavirus outbreak 'getting bigger' after Nigeria case - WHO
Executive director talks on expansion prospects of Interconnector Greece-Bulgaria
CNPC investments value in Turkmenistan's Bagtyyarlyk contract area revealed
IGB’s Commercial Operation Date announced
More Georgian villages to enjoy special financial benefits
Kazakh KazMunayGas subsidiaries sign various agreement to substitute import
Uzbek-Korean JV announces tender for supply of butene
EBRD to finance construction, reconstruction of Uzbek roads
OPEC leaning towards larger oil cuts as virus hits prices, demand
14-year-old Azerbaijani chess player wins Aeroflot Open 2020 International Festival in Moscow
Volume of cargo transshipped via Turkish Port of Gulluk revealed
Volume of cargo transshipped via Turkish ports by Moroccan vessels in January disclosed
Volume of bentonite transshipment via Turkish ports disclosed
Turkish ministry on amount of aviation fuel transported via Turkey's ports
Turkey sees growth in number of tourists from Kazakhstan
Uzbek-Indian seed-growing enterprise to be established in Uzbekistan
Elmar Gasimov meets with Rector of Istanbul Technical University (PHOTO)
U.S. asks its military in Saudi Arabia to avoid crowded venues as coronavirus spreads in neighboring countries
Turkey - Azerbaijan trade turnover increases
Geneva car show canceled due to corona woes
BSTDB transfers funds to SOCAR AQS for purchasing production equipment
Turkey discloses cargo transshipment via Port of Samsun
Uzbekistan's Ministry of Energy talks co-op with foreign companies
Volume of phosphoric acid transshipment via Turkish ports in January 2020 revealed
Putin, Erdogan discuss Syria’s Idlib over the phone
Aramco secures unconditional EU okay for $69 billion SABIC deal
Volume of cargo transshipped from Spain via Turkish ports revealed
Implementing Kars-Igdir-Nakhchivan railway project to raise Azerbaijan’s export potential
Volumes of cargo transshipment via Turkish port of Bandirma revealed
Iran to facilitate export of goods via Khorasan Razavi borders
Volume of cargo transshipped from Lithuania through Turkish ports publicized
Turkey discloses volumes of benzene transhipment through its ports in Jan. 2020
Effect of large-scale reforms on energy sector of Uzbekistan
Number of vehicles in Turkey significantly increases
Second case of coronavirus confirmed in Georgia
Operational Headquarters records 1st coronavirus infection case in Azerbaijan
Coronavirus death toll in Iran rises to 34
Deadline for construction wrap up in Baku's New Gunashli settlement disclosed
Uzbekistan, US Interpol discuss creating channel for direct information exchange
Turkey's foreign trade turnover increases
Microsoft Azerbaijan talks about plans, prospects for ICT development
Georgian economy up in January
President Ilham Aliyev offers condolences to Turkish counterpart
Number of Azerbaijani startups operating in Silicon Valley revealed
Transport corridors to allow Azerbaijan meet needs of emerging hydrocarbon markets
IAP's funding by European Commission under specific programs could be explored
SOFAZ unveils budget revenues, expenditures
Microsoft Azerbaijan GM talks Windows OS vulnerabilities in Azerbaijan
Eni sees decline in natural gas sales
Eni boosts oil and natural gas production
Kazakh-Chinese oil and gas company opens tender for equipment maintenance
Volumes of fuel oil transshipment via Turkish ports revealed
Kazakhstan significantly increases export of goods to Turkmenistan
Turkey to supply modern weapons and military equipment to Azerbaijan
Natia Turnava: Close Georgian-Azerbaijani relations contribute to development of joint projects
EasyJet to cancel flights as coronavirus hits demand
Number with coronavirus rises to 45 in Kuwait as two more cases detected
EU sees risk of slide into major international conflict in Idlib
NATO envoys to meet to discuss Syria at Turkey's request
All news