According to the report of the Azerbaijan State Statistical Committee, in January and February 2016 1,392,000,000 AZN has been invested into the oil and gas industry of the country, up 55.7% against the same period last year.
The Committee reported that during this period the amount of foreign investments into Azerbaijan’s main capital totaled 1,241,100,000 AZN, up 53% against the same period last year.
At present the main foreign investments implemented in Azerbaijan are directed to the upstream projects, including Shah Stream and Southern Gas Corridor (construction of the gas pipeline in Azerbaijan is in progress, the Sangachal gas terminal is expanded and etc.)—0—
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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