From January to September 2013 State Oil Company of Azerbaijan (SOCAR) shipped 1,327,517 tons of oil from the Novorossiysk port via the Baku-Novorossiysk oil pipeline, down 7.5% against the same period last year, reported SOCAR.
In September 2013 SOCAR shipped 162,821 tons of Azerbaijani oil from the Novorossiysk port.
Since 1997 Azerbaijan has been transporting its oil via the Baku-Novorossik pipeline. Till September 1, 2013 over 20 million tons of Azerbaijani oil has been delivered to the world markets via the northern route. In 2012 SOCAR exported 2,064,000 tons of oil via the Baku-Novorossiysk oil pipeline.
In 2013 SOCAR is expected to transport 1.8 million tons of Azerbaijani oil via the Baku-Novorossiysk oil pipeline.—0—
Economics
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Azerbaijani President Ilham Aliyev inspected a fleet of specialized municipal service vehicles in Baku on Thursday, as part of efforts to modernize urban infrastructure and improve environmental sustainability.
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Azerbaijan's National Depository Center (NDC) has announced a series of strategic goals and digital innovations for 2024-2026, aimed at fostering trust, expanding market access, and diversifying investment instruments in the country’s capital markets.
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The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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