From January to September 2013 oil export via the offshore terminal in Novorossiysk increased by 5.5% against the same period in 2012 – up to 24,130,153 tons, according to CPC. In September 2,476,209 tons of oil was exported via the terminal, down 5.9% against September 2012.
CPC pipeline system is the biggest investment project with participation of the foreign capital on the CIS space. Cost of the first phase of the project is $2.6 billion. The length of the pipeline, which connects the oil fields on the west of Kazakhstan with the new offshore terminal in Russia is 1,510 km. The first part of CPC was put into operation in April 2003. During 2012 oil export via the CPC terminal decreased by 4.4% to 30.5 million tons.—0--
Economics
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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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