Since New Year another big company will start layoff of its staff in Azerbaijan.
The sources from the oil industry told Turan that since January 2015 Statoil Azerbaijan plans to lay off 50% of its employees.
At present the company numbers about 40 employees in Azerbaijan. Both Azerbaijani and foreign employees of the company will be laid off.
The layoff in Statoil company is not connected only with reduction of oil price. This year the company has decided to fully leave the Shah Deniz project and the South Caucasian gas pipeline, where a year ago it had a share of 25.5% and then 15.5%.
At present Statoil is a passive shareholder in such projects as Azeri-Chirag-Guneshli (ACG – 8.6%) and the oil pipeline consortium Baku-Tbilisi-Ceyhan (BTC - 8.7%).
BP-Azerbaijan company has earlier announced layoff of its staff from January 1, 2015.—0—
Economics
-
On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
-
Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
-
Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
-
Azerbaijan’s state-owned electricity producer, Azerenergy, is advancing the construction of six hydroelectric power plants (HPPs) in the Kalbajar and Lachin districts as part of the country’s efforts to expand its renewable energy capacity. The plants, with a combined capacity of 37.5 megawatts (MW), are expected to be commissioned in the first half of 2025, according to the company.
Leave a review