From January to May 2015 extraction of oil, including gas condensate, in Azerbaijan totaled 17,635,800 tons, down 0.8% against the same period in 2014, reads web site of the Azerbaijan State Statistical Committee.
From January to May 2015 gas production in Azerbaijan totaled 12,187,800,000 cub.m. (decline by 4.7%).
SOCAR has earlier reported quoting Rakhman Gurbanov, SOCAR Vice President for Extraction and Transportation, that in 2015 it is forecast to extract 40.7 million tons of oil and 30.2 billion cub.m. of gas in Azerbaijan.—0—
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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