Iranian Oil Minister Bijan Namdar Zanganeh has created a special committee to amend the oil contracts, which envisage buy back to make them more attractive for the potential foreign investors.
The committee is led by Mehdi Hosseini, reported SHANA agency. Zanganeh is going to take measures to conclude new and more atrtractive contracts to attract investments of the international oil companies. Minister has instructed the committee to familiarize itself with the opinions of Iranian experts and consultations of the international companies and study experience of other countries in development of contracts, reported Russian Oil.—0—
Economics
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Azerbaijan has dispatched its first rail cargo shipment from Baku to China, marking a significant milestone in its ambitions to become a critical hub along the Middle Corridor. The Azerbaijan Railways (ADY) confirmed on Sunday that the inaugural "Baku-Xi'an" export block train, comprising 62 40-foot containers, has begun its journey.
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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