The connection of the Odessa-Brody oil pipeline with Polish Plozk and Gdansk cities does not guarantee payback and we will have to look for oil to fill it, admitted one of the key partners of the project – Polish PERN Przyjazn concern.
He expressed this opinion at the meeting of the shareholders of the international joint venture MRP Sarmatia, which was in charge of development of feasibility study of the pipeline project. As a result, the sides failed to agree on the items of the agenda, which were related to the funding and plans.
The concern supports the project, but believes that the works schedule submitted by Sarmatia is unreal. “The project could not be completed till the end of 2015, which could have allowed us getting funding through “Infrastructure and Environment” program as a part of the European Union financial perspective,” the Polish company said.
Odessa-Brody oil pipeline was built by Ukraine in 2001 to transport Caspian Oil to Europe bypassing Russia. The oil pipeline stands idle, because of lack of a branch to Poland. Ukraine hopes that Poland will complete construction of its own section of the oil pipeline.—0—
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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