The growth of cars in Azerbaijan increases demand in fuel at the local market. At the same time this factor reduces the country's export of oil products.
During 11 months, 2012 SOCAR exported 840,284 tons of diesel fuel, down 28.5% or 334,716 tons against January-November 2011.
During this period SOCAR delivered 58,175 tons of automobile petrol to the foreign markets, down 34.6% or 30,845 tons against the same period last year.
During 11 months export of Azerbaijani automobile fuel dropped by 365,561 tons.
Azerbaijan lost a sufficient amount of currency from export of these types of oil products. According to SOCAR, in November 2012 1 ton of diesel fuel at the world market cost $924.73 and automobile gasoline - $932.31.-0-
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review