From January to November 2015 State Oil Company of Azerbaijan (SOCAR) has extracted 7.58 million tons of oil on the onshore and offshore fields against 7.7 million tons extracted during the same period in 2014, reads information posted on SOCAR’s web site.
SOCAR extracts oil from Azerbaijani onshore and offshore fields at the expense of its own funds. Part of this oil is refined at the Baku’s oil refineries and another part is exported via the Baku-Novorossiysk pipeline. In 2014 SOCAR has extracted 8.32 million tons of oil against 8.31 million tons in 2013.—0—
Economics
-
Azerbaijani President Ilham Aliyev issued a decree on Thursday introducing amendments to several previous presidential orders concerning state administration and reconstruction services in the country’s liberated territories. These changes aim to enhance operational efficiency and clarify responsibilities for the management and restoration of these regions.
-
The Ministry of Energy of Azerbaijan has begun preparations for the upcoming 11th meeting of the Southern Gas Corridor (SGC) Advisory Council and the third ministerial meeting of the Green Energy Council in Baku.
-
The Cabinet of Ministers of Azerbaijan has approved a detailed list of services to be provided by the country’s Export and Investment Promotion Agency (AZPROMO), aiming to enhance support for exporters and investors in 2025. The decision was formalized under Resolution No. 11, issued on January 22, 2025.
-
Taleh Kazimov, Chairman of the Central Bank of Azerbaijan (CBA), met with Anna Bordon, head of the International Monetary Fund (IMF) mission for Azerbaijan, the Middle East, and Central Asia, on January 23 to discuss the country’s key economic priorities. The meeting emphasized a shared commitment to addressing macroeconomic challenges, implementing sound monetary policy reforms, and ensuring financial sector stability in the medium term.
Leave a review