Azerbaijan Starts Test Shipment of Oil Products on South-West Route
Baku / 23.09.16 / Turan: Azerbaijan LLC ADY Express started a test cargo route South-West, the company said.
ADY Express started to transport along the transport route South-West in the test mode and soon plans to send the first two carriages with 90 tons of light petroleum distillate (oil products). At the initial stage of this route it is planned to transport 10,000 tons of cargo, which in the future will be increased by several times,’ the report says.
The company indicated that the two test cars delivered by trucks from Iran to Astara (Azerbaijan) will be sent to Georgia by rail and then from the Batumi port on the Black Sea the cargo will be delivered to the destination.
The agreement on the transport corridor South-West was signed in Baku in 2016 by Azerbaijan, Georgia, Iran and Ukraine. The corridor will allow reducing the time of transportation of cargoes from India to Europe by 2-3 times. The corridor will operate on the route India - Persian Gulf - Iran - Azerbaijan - Georgia - Black Sea - Europe.
* LLC ADY Express is a subsidiary of CJSC Azerbaijani Railways. The company provides logistics services in the field of rail transportation. -12D--
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review