From January to June 2014 State Oil Company of Azerbaijan (SOCAR) has shipped from the Novorossiysk port in Russia 593,025 tons of oil exported via the northern route ( Baku-Novorossisk oil pipeline).
SOCAR reported that the volume of shipment decreased by 40.4% against the same period in 2013.
In July 2014 84,803 tons of Azerbaijani oil was shipped by SOCAR from the Novorossiysk port.
Azerbaijan transports its oil via the Baku-Novorossisk pipeline. The transit fee for pumping Azerbaijani oil via the Russian territory remains actually unchanged – about $16.00 per 1 ton.
In 2013 export of Azerbaijani oil via the Baku-Novorossisk pipeline totaled 1,751,023 tons.—0-
Economics
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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