The contract between Transneft and State Oil Company of Azerbaijan (SOCAR) envisages that 1.4 million tons of Azerbaijani oil could be pumped via the Baku-Novorossiysk oil pipeline in 2016, Advisor of President of the Russian pipeline monopoly Transneft, press officer Igor Demin told the Oil Information Agency.
He said a separate agreement will be needed to deliver SOCAR’s oil via Makhachkala.
“At the moment we do not have it,” he said.
From January to November 2015 SOCAR has shipped 1.3 million tons of oil from the Novorossiysk port, which was exported via the Baku-Novorossiysk oil pipeline, which is up 36.2% against the same period last year. In 2014 SOCAR shipped 932,200 tons of oil from Novorossiysk.
Since 1997 Azerbaijan has been transporting its oil via the Baku-Novorossiysk pipeline.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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