In 2013 first time in past several years Azerbaijan’s oil industry had positive results.
According to the Azerbaijan State Statistical Committee, in 2013 oil and gas industry increased by 1.1%. In 2012 oil and gas industry declined by 4.2% against 2011.
The oil and gas industry started declining in Azerbaijan since 2011.
In 2013 oil and gas industry had positive results, first of all at the expense of resumption of oil production growth.
In 2013 oil production in Azerbaijan totaled 43.1 million tons, up 0.3% against 2012 (42,895 million tons with the production decline by 5.3%).
Last year gas production totaled 17.9 billion cub.m., up 3.8% against 2012 (17,240 billion cub.m. with the growth by 5.4%).—0—
Economics
-
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) reported a significant increase in its assets, reaching $58,000.6 million as of June 30, 2024.
-
On Tuesday, Azerbaijani President Ilham Aliyev issued a decree amending the list of services provided to micro, small, and medium-sized enterprises (MSMEs). The amendments aim to optimize processes and improve service delivery for businesses in the country.
-
President Ilham Aliyev of Azerbaijan signed a decree on July 16 to ensure the implementation of Law No. 2024-VIQD, dated June 28, 2024, which amends the Family Code and several key information laws of the Republic of Azerbaijan. The decree, which takes effect immediately, aims to modernize and streamline legal processes related to personal data and informatization.
-
The State Oil Company of the Azerbaijan Republic (SOCAR) announced its intention to acquire a 51% stake in Azər Türk Bank OJSC, marking a significant move in the state-owned company’s expansion into the banking sector.
Leave a review