Economy

SOCAR Energy Georgia to launch multifunctional complex in Georgia

03.08.2018 | Readed: 123

SOCAR Energy Georgia (Georgian subsidiary of the Azerbaijani state company SOCAR) plans to put into operation a multifunctional gas station in Georgia by mid-2019, the Director of the company Mahir Mammadov told Trend. Earlier Mammadov......

Oil prices rise amid falling U.S. stockpiles

03.08.2018 | Readed: 113

Oil prices went up on Thursday as a report showed that crude inventories at a major U.S. storage hub declined recently, Xinhua reported. U.S. energy information provider Genscape said on Thursday that crude inventories at Cushing, Oklahoma......

BTK to have positive impact on developing new transport routes – envoy

01.08.2018 | Readed: 119

The Baku-Tbilisi-Kars (BTK) railway will have a positive impact on developing new transport routes between Central Asia, Caspian and Black Sea regions, Ambassador of Romania to Azerbaijan Dan Iancu said in an interview with Trend. "It is......

Fitch: Azerbaijan to continue to experience broad social and political stability

30.07.2018 | Readed: 90

Azerbaijan will continue to experience broad social and political stability, Fitch Ratings said. Fitch Ratings has affirmed Azerbaijan's Long-Term Foreign-Currency Issuer Default......

Trade between Azerbaijan and Russia increased by 20 percent, economy minister

26.07.2018 | Readed: 105

“Trade between Azerbaijan and Russia grew by 20 percent,” said Azerbaijani Minister of Economy Shahin Mustafayev as he met with Minister of Economic Development of the Russian......

U.S. crude inventories down 6 million barrels

26.07.2018 | Readed: 106

U.S. crude stocks fell last week, while gasoline and distillate inventories also declined, the Energy Information Administration said on......

Ambassador Juris Maklakovs: Latvian citizens are keen to taste Azerbaijani products

25.07.2018 | Readed: 112

Azerbaijani Trade House opened in Latvia. About 120 tonnes Azerbaijani agricultural products were sent already to Latvia. Latvian citizens are keen to taste Azerbaijani products, said......

SOCAR: Kulevi Port received more than 2,200 vessels

23.07.2018 | Readed: 102

The port of Kulevi oil terminal of SOCAR`s asset in Georgia, so far, has received and departed more than 2,200......

Construction of SOCAR Polymer Plant realized through project financing

19.07.2018 | Readed: 123

“Azerbaijan used the model of project financing for the first time using the example of a polypropylene plant within the framework of the SOCAR Polymer project. The decision was made in order to......

Italian President: SOCAR Polymer is an extremely important project

19.07.2018 | Readed: 133

“SOCAR Polymer is an extremely important project,” said Italian President Sergio Mattarella as he addressed the inauguration of a polypropylene plant constructed in Sumgayit Chemical Industrial......

TAP: 94 percent of steel line pipes welded in Greece and Albania

18.07.2018 | Readed: 104

“We have welded 94% of steel line pipes and around 84% pipes are already in the ground (back-filled),” Head of Communications at Trans Adriatic Pipeline (TAP) Lisa Givert has......

Emerging-europe.com: Azerbaijan aims to become Caucasus leader in cashless leader

17.07.2018 | Readed: 163

The World Bank Group has agreed to support the further expansion of cashless payments in the Nakhchivan Autonomous Republic and set up the first cashless zone in Azerbaijan, to increase financial inclusion for the rural population, emerging-europe.com......

China meets with EU over trade as economy slows

17.07.2018 | Readed: 117

A European Union (EU) official says the EU will not “gang up” with China against the United States, even if the trade group opposes America’s protectionist policies. Luca Jahier, the president of the European Economic and Social Committee, spoke......

Rasht-Astara railway opening way for expansion of regional trade

16.07.2018 | Readed: 269

The completion and launch of the Rasht-Astara railway opens the way for the expansion of trade relations in the region, the Ambassador of Iran to Azerbaijan Javad Jahangirzadeh said during a joint meeting of representatives of the public and private......

Chinese companies have invested about $800m in Azerbaijan’s economy

16.07.2018 | Readed: 129

“Chinese companies have invested about $800 million in Azerbaijan’s economy. Trade between Azerbaijan and China increased by 20 percent,reaching $ 1.3 billion in 2017,” said......

OPEC ups forecasts for Azerbaijan’s oil output

14.07.2018 | Readed: 143

Azerbaijan is expected to produce on average 0.79 million barrels of oil per day in 2018, OPEC said in its July Oil Market Report. "For 2018, the country’s oil supply is estimated......

MIGA issues $1.1b in guarantees to support TANAP

14.07.2018 | Readed: 128

MIGA, a member of the World Bank Group, has issued US$1.1b worth of guarantees in support of the approximately 1,850km long Trans-Anatolian Natural Gas Pipeline ('TANAP'), which will......

BP sees Azerbaijan as important growth area

13.07.2018 | Readed: 125

BP is uniquely positioned to develop Azerbaijan’s world-class projects safely, reliably and efficiently, the company told Trend. "As one of the biggest global oil and gas industry......

Caspian Energy Forum 2018 to be held on November 30 in Prague

12.07.2018 | Readed: 144

The 8th International Caspian Energy Forum 2018 will be held on November 30 in Prague. Over 300 delegates from 17 countries of the world will attend the Forum, First Deputy Chairman and......

TAP: new archaeological sites found in Greece

10.07.2018 | Readed: 138

Archaeological remnants of human activity in Central Macedonia (Greece) from the Prehistoric to the Byzantine period have been brought to light in archaeological excavations, carried out in the context of construction works for the Trans......

To date 53 billion cubic meters of Azerbaijani gas delivered to Turkey by Shah Deniz-1

10.07.2018 | Readed: 159

Over 94 billion cubic meters of natural gas has been extracted from the Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea since going into service, said first vice president of......

Baku to host meeting of Board of Directors of Arab Petroleum Investments Corporation

09.07.2018 | Readed: 142

“The Board of Directors of Arab Petroleum Investments Corporation (APICORP) will held its next meeting in Baku,” said Azerbaijan’s Deputy Minister of Energy Samir Valiyev as he met......

Azerbaijani PM elected as SOFAZ Supervisory Board’s chairman

07.07.2018 | Readed: 155

In accordance with the decision of the Supervisory Board of the State Oil Fund of Azerbaijan (SOFAZ), Azerbaijani Prime Minister Novruz Mammadov has been elected as the Supervisory Board’s chairman, SOFAZ said in a message July......

Azerbaijan’s economic potential presented at Shenyang international conference and fair

07.07.2018 | Readed: 144

The 10th Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Technology Conference and Fair under the motto “Innovation promoting development, cooperation creating the future”......

Oil dips in nervous trading as U.S.-China trade war looms

06.07.2018 | Readed: 136

Oil prices dipped on Friday in a nervous market ahead of a raft of import tariffs expected to be imposed later in the day by the world’s two biggest economies, the United States and......

Montenegro updates on co-op with SOCAR on IAP

06.07.2018 | Readed: 154

Montenegro is in permanent communication with the officials of Azerbaijan and the representatives of the state oil company SOCAR on the implementation of the Ionian-Adriatic Pipeline (IAP) project, Economy Minister of Montenegro Dragica......

Pakistan invested $4.2 million in Azerbaijan’s economy so far

06.07.2018 | Readed: 173

Pakistan has invested $4.2 million in Azerbaijan’s economy so far, said Azerbaijan`s deputy minister of economy Rufat Mammadov as he addressed an Azerbaijan-Pakistan Business Forum in......

World Bank: TANAP to support regional trade, improve connectivity

05.07.2018 | Readed: 162

The Trans Anatolian Natural Gas Pipeline (TANAP) will support regional trade and improve connectivity, the World Bank (WB) told Trend. "It is one of the highest infrastructure......

Pakistan invested $4.2 million in Azerbaijan’s economy so far

05.07.2018 | Readed: 139

Pakistan has invested $4.2 million in Azerbaijan’s economy so far, said Azerbaijan`s deputy minister of economy Rufat Mammadov as he addressed an Azerbaijan-Pakistan Business Forum in......

1,500 delegates to attend “Caspian Energy Forum Baku– 2018”

04.07.2018 | Readed: 150

Over 1,500 delegates from 50 countries around the world will take part in the 7th International “Caspian Energy Forum Baku– 2018”, First Deputy Chairman and Chief Executive Officer......

Turkmenistan needs Azerbaijan, Turkey to get its gas to Europe - expert

02.07.2018 | Readed: 177

Turkmenistan needs cooperation from Azerbaijan and Turkey in order for its gas to reach Europe, Bruce Pannier, expert on Central Asia, told Trend. On June 22, Russia's legal......

Location of first small & medium-sized business house in Azerbaijan revealed

02.07.2018 | Readed: 159

The first small and medium-sized business house in Azerbaijan will be established in Baku, Executive Director of the Agency for Small and Medium Business Development of Azerbaijan Orkhan Mammadov said in an interview with......

Shah Deniz 2 starts delivering gas to Turkey

02.07.2018 | Readed: 178

The Shah Deniz consortium, comprised of BP (operator), SOCAR, TPAO, PETRONAS, LUKOIL, NICO and SGC, has today announced commencement of commercial gas deliveries to Turkey from the Shah......

Budapest to host next meeting of Azerbaijan-Hungary Joint Commission on Economic Cooperation

30.06.2018 | Readed: 159

“The next meeting of Azerbaijan-Hungary Joint Commission on Economic Cooperation will take place in Budapest,” Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto has......

Polish Foreign Minister: South-West corridor will strengthen our economic ties

29.06.2018 | Readed: 164

Poland should further develop transport cooperation with Azerbaijan, Polish Foreign Minister Jacek Krzysztof Czaputowicz said in an interview with Trend. "We are not directly involved in......

Baku hosts roundtable discussion on "Building Trust in Paying Taxes"

29.06.2018 | Readed: 162

American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) has organized a roundtable discussion on "Building Trust in Paying Taxes" featuring the participation of Minister of Taxes......

Demand exceeds supply for Azerbaijani Central Bank’s notes

28.06.2018 | Readed: 173

The Baku Stock Exchange (BSE) held an auction for placement of short-term notes of Azerbaijan’s Central Bank (CBA) worth 250 million manats with a maturity period of 28 days, the BSE said in a......

Oil falls on OPEC's announced output rise, but markets to remain tight

25.06.2018 | Readed: 160

Brent crude oil prices fell over 1.5 percent on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on Friday, according to......

Azerbaijan`s minister of energy to attend international conference in Washington

25.06.2018 | Readed: 172

Azerbaijan`s Energy Minister Parviz Shahbazov will participate in an international conference “Towards 21st Century Energy Systems in Central & Eastern Europe” in Washington on......

OPEC reaches deal to raise oil output

23.06.2018 | Readed: 177

Leaders from the Organization of the Petroleum Exporting Countries (OPEC) have agreed on a modest increase in oil production from next month, according to Al Jazeera. The agreement......

Prices for precious metals vary in Azerbaijan

21.06.2018 | Readed: 187

 The prices of main precious metals varied in Azerbaijan on June 21, according to the data published by the country’s Central Bank. The cost of gold decreased by 14.374 manats to 2,151.758 manats per ounce in Azerbaijan compared to......

Baku hosts second meeting of Azerbaijan-Vietnam Intergovernmental Commission

21.06.2018 | Readed: 175

The second meeting of the Intergovernmental Commission on trade, economic, scientific and technical cooperation between the Republic of Azerbaijan and the Socialist Republic of Vietnam......


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