According to a new study, Azerbaijan’s state-owned oil and gas company SOCAR is closely intertwined with the country’s government and focuses heavily on the continued expansion of fossil fuels. In 2023, the company produced 174 million barrels of oil and gas products, invested 300 million US dollars in the exploration of new reserves from 2022 to 2024 and is helping to circumvent the EU’s energy embargo against Russia. These are the findings of the study „SOCAR- Azerbaijan’s Fossil Fuel Proxy,“ recently presented by the NGOs urgewald and Bankwatch network.