In connection with the future expansion of production at the refinery named after Heydar Aliyev (specializes in the production of fuel) it is planned to dismantle the older refinery of SOCAR - Azerneftyag (producing oil and lubricants ). This was announced today in an interview with the President of SOCAR Rovnag Abdullayev.
According to him, this process will begin approximately in 2017, as the new 7-8 facilities in the Heydar Aliyev Refinery will be gradually put into operation in 2018.
Note that the refinery Azerneftyag exists since the 80s of the XIX century. Since then the plant has been repeatedly upgraded. In recent years it processed more than 1 million tons of oil per year. For comparison - the current processing capacity of the Heydar Aliyev Refinery is 5 times more. --12C-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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