In 2012 OPEC registered absolute record of oil export profit - $1.26 trillion, the official data was released today at the London Oil Exchange.
This is up 10% against 2011, that time OPEC profit from oil sales at the foreign markets totaled $1.15 trillion.
Last year a huge growth of incomes was censured by a medium price of Brent oil price at $111.70 per barrel. It is the basis for calculation of price of oil extracted by OPEC member-states.
Libya had the highest pace of growth of oil export profit – from $18.6 billion in 2011 to $60.2 billion in 2012. Iran had the highest decline of oil export – from $115 billion in 2011 to $101 billion last year. This has become a result of sanctions applied by the US and European Union against Iran.
Last year total GDP of OPEC member-states reached $3.35 trillion against $3 trillion in 2011.
In 2013 western specialists expect that average price of Brent oil will be $106, reported http://www.biztass.ru.--0--
Economics
-
The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
-
The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
-
Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
-
Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
Leave a review