In January-November 2016, Azerbaijan produced 37 million 717.2 million tons of oil and condensate, which is 1.5% less than the same period last year. This was reported in the monthly report of the State Statistics Committee of Azerbaijan.
During the reporting period, Azerbaijan produced 37 million 670.4 thousand tons of commercial oil, which was also 1.5% less than in January-November 2015.
In November Azerbaijan produced 2 million 994.4 thousand tons of commercial oil. Compared to November 2015, the commercial oil volumes decreased by 290.9 thousand tons, or 8.85%. -12B-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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