The International Energy Agency (IEA) in its last report forecasted a relative growth of Iranian crude oil export next year after signing of the agreement on the Iranian nuclear program in Geneva.
According to the IEA forecasts, next year demand in crude oil at the world market will be higher, than it was thought and considering the current problems with energy carriers production, this could lead to growth of oil prices.
According to the IEA estimates, in November 2013 Iranian oil and gas condensate export increased by 89,000 barrels and reached 850,000 barrels a day. This is connected with growth of export to China and resumption of export to Taiwan. Oil production in Iran increased by 13,000 barrels and reached 2,710,000 barrels a day.
The Geneva agreement cancels ban on insurance of Iranian oil exported by the international companies and therefore, one of the main obstacles hindering Iranian energy carriers’ export to the foreign consumers will be lifted. But this does not mean that the similar volume of Iranian oil export will be resumed. The limitation of Iranian oil deliveries to the Asian countries and the European Union’s sanctions against Iran remain in force and this will not allow Iran significantly increasing its oil export, reported Iran.ru.—0—
Economics
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Rashad Huseynov has been appointed as the new director of the Center for Agricultural Research under the Ministry of Agriculture, replacing Firdousi Fikretzade who led the center since 2019. Fikretzade stepped down from his position on June 10 at his own request.
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Since July 1, bus and metro fares have increased by 10 qəpik, reaching 50 qəpik. The fare for buses on the Baku-Sumgayit route has risen from 60 qəpik to 70 qəpik. However, it is reported that there has been no improvement in service quality following the price increase. According to complaints, air conditioners are not working on buses operating in the periphery, and overcrowding persists.
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Rovshan Najaf, President of the State Oil Company of the Republic of Azerbaijan (SOCAR), held a meeting with Bojan Kumer, Slovenia's Minister of Environment, Climate and Energy, to discuss bilateral cooperation in the energy sector.
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Azerbaijani Energy Minister Parviz Shahbazov met with a delegation led by the World Bank's Regional Director for the South Caucasus, Roland Price, to discuss the development of cooperation in the energy sector.
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