From January to August 2012 SOCAR extracted 5,494,000 tons, down by 2.5% against the same period last year.
According to SOCAR, in January they extracted 706,638 tons of oil, in February - 660,942 tons, in March - 660,900 tons, in April - 684,300 tons, in May - 700,900 tons, in June - 678,500 tons, in July - 700,900 tons and in August - 701,800 tons.
From January to August 2012 oil and gas producing companies of SOCAR extracted 4,567,000,000 cub.m. of gas, increased by 18.29 million cub.m. or by 0.4% against the same period last year.
In August 2012 SOCAR extracted 572.3 million cub.m. of gas.
According to the forecasts, in 2012 Azerbaijan will extract 28.8 billion cub.m. of gas. Of this volume 8 billion cub.m. will be gas from the offshore gas condensate field Shah-Deniz, 13.1 billion cub.m. associated gas from Azeri-Chirag-Guneshli fields and 7.18 billion cub.m. will fall to SOCAR.-0-
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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