Azerbaijani President Ilham Aliyev announced on January 21 at the World Economic Forum in Davos that the country is increasing gas production and reducing oil output.
“We are increasing gas production, reducing oil production,” Aliyev said. “But we have plans to stabilize oil production and even increase it. Perhaps it’s too early to talk about it now, but we have well-founded hopes that we can survive a second very significant oil boom.”
