The Ministry of Finance published the balance of the total income and expenses of the insurance market of Azerbaijan in 2012. Net income amounted to 48.05 million manat. The result could be significant, if it had not become fashionable decline in net insurance reserves of 73.26 million manat.
Total basic income of insurers and reinsurers totaled 393.35 million manat, of which almost the entire amount came in premiums, 25.96 million - for investments.
Expenses amounted to 305.51 million manat, where, except in cases of direct payments (206.62 million) we could mention high costs of the proceedings - AZN 97.15 million. - 17D-
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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