Minister Jabbarov: Increasing efficiency of Azerbaijan Investment Company is one of our upcoming targets
“Increasing the efficiency of Azerbaijan Investment Company is one of our upcoming targets,” Minister of Economy Mikayil Jabbarov said on Twitter.“Last year, the operational expenditures of the Company were optimized; the profitability indicators on the main investment sub-portfolio and the liquidity ...
AZAL to connect capitals of Azerbaijan and Kazakhstan
Azerbaijan Airlines will open flights from Baku to Astana, the capital of Kazakhstan. Thus, starting from March 16, the airline will start operating flights en route Baku-Astana-Baku. Flights on the route will be operated twice a week. Flights from Baku to Astana ...
Energy minister: 26.3 out of 32.6 million tons of extracted oil exported
“According to operational data for 2022, 26.3 out of 32.6 million tons of extracted oil was exported,” said Azerbaijan`s Energy Minister Parviz Shahbazov.“During this period, 22.3 out of 46.7 bcm gas produced with an increase of 6.5% was exported,” he added ...
Azerbaijan's gas export increased by 18%
“During December-January, gas export grew by 18%. 11.4 bcm of gas was exported to Europe, 8.4 bcm to Turkiye and 2.5 bcm to Georgia,” said Azerbaijan`s Minister of Energy Parviz Shahbazov. “During this period, 5.6 bcm gas was supplied to Turkiye through TANAP,” the minister added ...
Economy minister: 41.4 mln. ₼ paid to pandemic-affected entrepreneurs
“Within the framework of facilitating the access of entrepreneurs to financial resources, from June 2020 until January 1 of this year, 41.4 mln. ₼ were paid to the pandemic-affected entrepreneurs under the state-guaranteed loan and subsidy mechanism,” Azerbaijan`s Minister of Economy Mikayil Jabbarov ...
Oil prices drop on world markets
Oil prices have decreased on the world markets. On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil fell $0.37 to trade at $83.66, while the price of the Light ...
Azerbaijani oil price nears $91
Azerbaijani oil price has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $3.11 to trade at $90.63 ...
Baku-Tbilisi-Ceyhan pipeline delivers over 4B barrels of oil since 2006
The Baku-Tbilisi-Ceyhan (BTC) oil pipeline, which passes through eastern and southern Türkiye, has provided world markets with over 4 billion barrels of crude as of the end of last year since it was opened in 2006, according to Anadolu Agency ...
Austrian newspaper: Azerbaijan will increase gas supplies to Europe in 2023
Austrian leading newspaper Salzburger Nachrichten has published an article headlined "Azerbaijan will increase gas supply to Europe in 2023". The article highlighted Azerbaijani President Ilham Aliyev`s interview with local TV channels ...
Central Bank: $35m worth of demand fully covered at FX auction
The foreign exchange (FX) auction was held at the Central Bank on January 12. $35m worth of demand was fully covered at the auction. Average weighted exchange rate of the manat was 1,7000 ...
Oil prices jump on world markets
Oil prices have increased on the world markets. On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil rose $0.15 to trade at $82.82, while the price of the Light crude oil at the NYMEX (New York Mercantile Exchange) increased ...
Azerbaijani oil price exceeds $87
Azerbaijani oil price has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $2.69 to trade at $87.52 ...
Azerbaijan’s Minister of Economy: So far, 116 entrepreneurship entities have obtained status of a resident in industrial zones
“So far, 116 entrepreneurship entities have obtained the status of a resident in the industrial zones, of which 65 have already started operating. In 2022, the enterprises carried out sales worth 2.9 billion AZN whilst 1 billion AZN of total sales have been exported ...
Pakistani company keen on investing in Azerbaijan’s pharmaceutical industry
Pakistan’s International Brands Limited (IBL) has expressed interest in investing pharmaceutical industry in Azerbaijan’s industrial zones during the meeting between Chairman of Board of Azerbaijan’s Agency for Development of Economic Zones (ADEZ) Elshad Nuriyev, Pakistani Ambassador ...
Participation of British companies in projects implemented in Karabakh discussed
Azerbaijan`s Minister of Economy Mikayil Jabbarov has met with British Ambassador Fergus Auld. “During the meeting, we have discussed the economic relations between our countries, development of the cooperation in the fields of investments, trade, energy, as well as the participation ...
EIA announces its forecast for oil production in Azerbaijan for 2024
The U.S. Energy Information Administration (EIA) has announced its forecast for the average daily production of petroleum and other liquids in Azerbaijan for 2024. In 2024, Azerbaijan’s petroleum and other liquids production is expected to be 660,000 barrels per day ...
Azerbaijan Investment Company to invest 20.5 mln. manats in 4 projects
“Azerbaijan Investment Company plays a special role in the promotion of equity investments in the non-oil sector of the country,” Minister of Economy Mikayil Jabbarov said on Twitter. “In 2022, Azerbaijan Investment Company invested 10 mln. ₼ in 5 projects on food processing ...
EIA expects global petroleum consumption to climb to record next year
The U.S. Energy Information Administration said in a monthly report issued Tuesday that it expects global consumption of liquid fuels, such as gasoline, diesel and jet fuel, to reach a record high in 2024, according to MarketWatch ...
Azerbaijani oil price nears $85
Azerbaijani oil price has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $0.2 to trade at $84.83 ...