Until the end of this month the entire staff of the former State Oil Company of Azerbaijan headquarters will move to a new office on Heydar Aliyev Avenue, the SOCAR Tower.
And what will happen to the old office of the State Oil Company? Will this historic building be returned to the state or remain at SOCAR's balance sheet? The fact is that when Azerbaijan's oil industry was nationalized by the Russian communists in early May 1920, after the overthrow of the local authorities, the building was given to Azneft.
As it became known to Turan, Azneft (SOCAR’s mining entity, which is now based near the Narimanov subway station) will return to the old place. The production union rents the current office and pays a lot of money for that, the spokesman said. -12B--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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