During 2013 the volume of oil export via the Caspian Pipeline Consortium (CPC) terminal totaled 32.7 million tons, up 6.9% against a year earlier (30.6 million tons).
The company reported that in December 2012 oil export via the CPC terminal increased by 2.7% against December 2012 up to 2.8 million tons.
CPC is the pipeline system, which connects Kazakhstan with the sea port in Novorossiysk, where oil is loaded on the tankers for its further shipment to the world markets.
The CPC shareholders are Russia with 31% (represented by Transneft with 24% and CPC Company with 7%), Kazakhstan – 20.75% (represented by Kazmunaigas with 19% and Kazakhstan Pipeline Ventures LLC with 1.75%), Chevron Caspian Pipeline Consortium Company - 15%, LUKARCO B.V. – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited - 2%, Eni International N.A. N.V. - 2% and Oryx Caspian Pipeline LLC – 1.75% - reported http://itar-tass.com. –0--
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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