According to the State Customs Committee, from January to October 2013 89.6% of Azerbaijan’s export fell to oil and oil products.
The Committee reported that during this period 84.66% of Azerbaijan’s entire export fell to crude oil and 4.93% to oil products.
Oil export increased by 0.93%, while oil products export decreased by 7.05% against the same period last year.
Reduction of oil products export is connected with the fact that demand in automobile fuel increased by almost 10% at the local market.
In 2012 export of Azerbaijan oil and oil products constituted 90.16%. Last year 84.63% of Azerbaijan’s entire export fell to crude oil and 5.53% to oil products.—0—
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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