In last week's methanol plant (AzMeCo) of Azerbaijan (in Garadagh district of Baku) has suspended its activities. Representative plant Hatamov Fuad said that the plant has suspended operations due to the cessation of gas supplies by SOCAR. Natural gas is the main raw material for the plant.
However, both told the agency Turan in SOCAR, AzMeCo did not want to pay for the raw materials used at the market price.
Yesterday, the local press reported that the owner AzMeCo Nizami Piriyev detained by law enforcement agencies in Baku. The Court chose to regard a measure of restraint in the form of arrest for a period of 4 months. According to information Piriyev accused of fraud and embezzlement of public property.
Methanol plant began production only in 2014. Last year the plant has exported 100 thousand methanol. Company products in the local market is not realized. Among the clients of the plant as BP International.—0--
Economics
-
Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
-
Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
-
Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
-
Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
Leave a review