Ադրբեջանի էներգետիկ համակարգը և նրա ռենտային կախվածությունը / The Energy System of Azerbaijan and its Rentier Dependence

Azerbaijan has become a classic rentier state due to its oil and gas revenues, depending on the structures that finance this sector, primarily the British Petroleum Company. The oil and gas revenues of this state depend on the volumes of oil and gas production and their world prices. And if international prices fluctuate, then oil production in this country decreases from year to year, and official Baku has not managed to interrupt this trend. Azerbaijan's oil and gas revenues are declining, and this downward trend in oil production in Azerbaijan has been steadily maintained over the past 10 years, and in 2023 it reached its historical maximum, having decreased by 7 percent in a year. In 2025, oil prices are likely to begin to decline, which will further reduce Azerbaijan's oil revenues. It can be concluded that over the next few years, Azerbaijan's oil and gas revenues will continuously decline both due to a reduction in oil production and due to a decrease in oil prices