International assets of Azerbaijan excluding the Oil Fund of Azerbaijan fell in February this year by $ 117.19 million, or 0.9%, to $ 12,732.66 million According to the beginning of the year, it increased by $ 489 25 million or 4%.
According to the Central Bank of Azerbaijan, in the structure of international assets in the reporting period decreased funds in various foreign currencies (primarily U.S. dollars and euros) to $ 12,493.03 million cost of the basket of Special Drawing Rights (SDR), which paid for the country's share in the authorized capital of the International Monetary Fund has decreased by 1.7% to $ 239.43 million.
For the annual period the country's international assets increased by $ 1642.34 million or 14.8%. - 15B -
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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