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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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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