In January 2014 State Oil Company of Azerbaijan (SOCAR) exported 1,999,000 tons of oil to the world markets via three routes – Baku-Novorossiysk, Baku-Tbilisi-Ceyhan and Baku-Supsa.
According to SOCAR, 84,739 tons of oil was exported via the Baku-Novorossiysk pipeline. SOCAR’s deliveries via the export pipeline Baku-Tbilisi-Ceyhan (BTC) totaled 1,592,000 tons. In January 2014 SOCAR exported 322,996 tons of oil to the foreign markets via the export route. Profitable oil of Azerbaijan and SOCAR in the Azeri-Chirag-Guneshli (ACG) project was exported via the BTC and Baku-Supsa. Oil extracted from SOCAR’s fields is delivered to the Russian port Novorossisk.—0--
Economics
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By the end of 2024, inflation in Azerbaijan is projected at 5.1%, increasing to 5.8% in 2025, as per the Central Bank's announcement. Just six months ago, in April, the bank had forecasted inflation at 3.5% for 2024 and 4.2% for 2025.
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The Cabinet of Ministers of Azerbaijan has approved the charter of the "Tourism and Recreation Zones Management and Development Center," a public legal entity under the State Tourism Agency. The decision, made on November 4, is intended to fulfill the requirements outlined in the presidential decree from August 2, 2024.
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A new desalination plant to produce drinking water is set to be built in Sumgait, Azerbaijan, as part of a project aimed at meeting increasing water demands in Baku and the Absheron Peninsula. The project was announced on November 5 during a bid-opening ceremony for proposals submitted in a tender for the plant’s development, according to the Turan news agency.
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Heydar Aliyev International Airport (GYD) has solidified its role as a critical transit hub for Azerbaijan, connecting Baku to over 80 international destinations across more than 30 countries. With routes linking major European cities like London, Paris, and Rome, as well as strategic points in the Middle East, Central, and South Asia, the airport has become central to Azerbaijan’s tourism and transit expansion.
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