Until September 1, 2013 Azerbaijan delivered 64 million tons (about 747 million barrels) of oil to the world markets via the western route (Baku-Supsa oil pipeline), a source from the State Oil Company of Azerbaijan (SOCAR) told Turan.
During 2012 over 27 million barrels of oil (about 4 million tons) was transported via the Baku-Supsa pipeline.
The Baku-Supsa pipeline was put into operation in April 1999. Oil extracted on the Chirag field is transported via the pipeline.
When the pipeline was built, its capacity totaled 100,000 barrels of oil a day. Then it was upgraded and its carrying capacity was increased up to 145,000 barrels a day. In the mid 2000s the pipeline stood idle for two years, because of problems in Georgia.
According to the pipeline operator BP, maximum of 106,000 barrels of oil a day could be pumped via the pipeline.—0--
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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