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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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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