From January to July 2012 oil products consumption at the Azerbaijani market has significantly increased, according to the monthly data of the Azerbaijan State Statistical Committee.
State Statistical Committee reported that during 7 months, 2012 oil refineries of SOCAR delivered 3,054,000 tons of oil products to the local market. The volume of deliveries increased by 26.7% against the same period in 2011.
During this period 728,800 tons of petrol, 760,300 tons of diesel fuel, 562,900 tons of aviation kerosene, 204,400 tons of black oil, 72,600 tons of liquefied gas, 153,900 tons of oil bitumen and 572,000 tons of other oil products were delivered to the local market.
In 2011 4,416,000 tons of oil products were delivered to the local market, up 12.6% against 2010.
The growth of oil products consumption at the local market is caused by growing number of cars. During 6 months, 2012 18,900 cars were imported in Azerbaijan. The growth constituted 70%.-0-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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