From January to September 2013 investments into Azerbaijan’s oil industry totaled 3,913,000,000 AZN ($5,016,000,000 at the current exchange rate), a source from the State Statistical Committee said.
They constituted 33.1% in total volume of investments into economy. Investments into the oil industry increased by 1,355,000,000 AZN against the same period last year.
During 2012 investments into the Azerbaijan oil industry totaled 3,648,000,000 AZN ($4,676,000,000 at the current exchange rate). Investments into the oil industry increased by 17% against 2011.
The investments into the oil industry have increased, because of implementation of the oil and gas projects such as Chirag Oil and Shah Deniz Phase 2. They constituted 23.8% in total volume of investment in economy of the country. –0--
Economics
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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Turkey aims to achieve carbon neutrality by 2053, transforming key sectors of its economy in line with a vision of "net-zero emissions and green development," President Recep Tayyip Erdogan announced at COP29 in Baku on Monday.
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