From January to August 2014 SOCAR exported 2,029,456 tons of Azerbaijani oil transported via the Baku-Supsa oil pipeline from the Supsa port.
SOCAR press office said that this is up 10.4% against the same period in 2013.
In August 2014 242,076 tons of Azerbaijani oil was shipped by SOCAR from the Supsa port.
In 2013 SOCAR shipped 2,725,095 tons of oil from the Supsa port.
Baku-Supsa oil pipeline was put into operation on April 17, 1999. The oil pipeline length is 837 km and its diameter is 530 mm. The pipeline with the carrying capacity of 7.5 million tons of oil a year was built as a part of the contract for development of the Azeri-Chirag-Guneshli (ACG) fields. Oil extracted from the Chirag field is exported via this pipeline.--0-
Economics
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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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