Baku's Oil Boom: From Black Gold to Modern Metropolis

Baku's wealth comes from oil. Here is the story of how "black gold" built the city.

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The First Oil Boom (1870s-1920s) 🛢️

• 1870s: Oil discovered in large quantities.
• 1900: Baku produced 50% of the world's oil.
• Oil Barons: Wealthy families (Rothschilds, Nobels) built mansions.

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Soviet Era (1920-1991) 🏭

• Nationalization: Oil industry taken over by the USSR.
• Strategic Importance: Baku's oil fueled the Soviet war machine in WWII.

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Modern Era (1991-Present) 💰

• Independence: Azerbaijan regained control of its oil.
• Oil Fund: Established to manage wealth.
• Boom: 2000s oil prices skyrocketed, funding Baku's transformation.

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Oil Today ⛽

• Still the backbone of the economy.
• Efforts to diversify (tourism, tech).

Baku's skyline is built on oil!