Azerbaijan exported in January-September this year, petroleum products worth more than $ 22.55 billion, up $ 897 million or 3.8% less than the figure for the corresponding period in 2012 . Share of oil exports amounted to 94.7 % of the total merchandise exports of the country , which is 0.7 % less than in the previous year.
According to the balance of payments, the total volume of oil exports during the reporting period $ 20.3 billion (for three quarters of 2012 - $ 21.3 billion), or 94.4 % accounted for crude oil, $ 1.2 billion was th share of petroleum products. In the structure of exports of crude oil price produced by the Azerbaijan International Operating Company (AIOC) oil was $ 19.1 billion ($ 20.1 billion). In the reporting period, other companies of the country exported oil at $ 1.2 billion, including $ 1,015.5 million - State Oil Company.
Gas exports in the first nine months amounted to about $ 1,045 million is 11% more than in the comparable period last year. - 15B-
Economics
-
Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
-
The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
-
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.
Leave a review