On November 26, 2013 the Caspian Pipeline Consortium (CPC) plans to approve the extension project, considering the amendments, reported Interfax quoting Nikolai Brunich, CPC General Director.
He added that at the end of November CPC will put into operation the third mobile mooring facility.
We plan to launch the next terminal in Novorossiysk in November 2013,” Brunich said.
He reminded that the CPC started trial of the mooring facility No 3 in August 2013 and it took 2.5 months. He specified that the mooring facility is planned to be launched at the end of November.
The CPC extension project is between 6 to 12 months behind the schedule. Brunich explained that there were many objective and subjective reasons of delay.
There was a need to bring demands of the western companies into correspondence with the Russian laws and there was delay with equipment delivery. But the situation has changed now, he said.—0—
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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