In quarter 3, 2013 four countries of the Persian Gulf – Qatar, Kuwait, United Arab Emirates and Saudi Arabia – increased daily oil production up to 16.4 million barrels – a record-breaking index, wrote London-based Financial Times newspaper.
Thus, from July to September, 2013 the Arabic countries have made $150 billion on oil export. In September 2013 18% of demand in oil fell to their share. The growth of index allowed four countries of the Persian Gulf increasing oil deliveries to the rapidly developing Asian market. Export to India and China has significantly increased.
Therefore, Kuwait, Qatar, UAE and Saudi Arabia respond to the US challenge, which is going to put efficient technology of shale oil and gas production into commercial operation, reads the newspaper.
“Despite the shale revolution, Near East will remain the centre of the world oil industry for a certain period,” said Fatikh Birol, senior economic of the International Energy Agency (IEA), reported http://www.itar-tass.com.--0--
Economics
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Azerbaijan and Iran are actively discussing the construction of a strategic railway line that will connect the East Zangezur Economic Region with the Nakhchivan Autonomous Republic, according to Rovshan Rustamov, Chairman of Azerbaijan Railways CJSC. Rustamov disclosed the details of these talks during his recent visit to Iran, where he met with Jabbar Ali Zakeri Sardrodi, head of the Iranian Railway Administration.
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Agricultural land in Azerbaijan's liberated territories may be leased to business entities through investment tenders. This is reflected in the draft law on proposed amendments and additions to the "Law on Land Lease." The document was discussed at the meeting of the Agrarian Policy Committee of the Milli Majlis (Parliament) on October 14.
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According to preliminary data released by the State Statistics Committee, as of October 1 of the current year, Azerbaijan's economically active population stood at 5.304 million people, of which 5.021 million were employed. These figures highlight the relatively stable labor market in Azerbaijan, as the same number appears in the data for the last three years.
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Azerbaijan witnessed a modest yet steady increase in nominal incomes in the first nine months of 2024, as incomes grew by 6.1% compared to the same period in 2023. This rise brings the total nominal income of the population to 61.587 billion manats, averaging 6039.2 manats per person. This is reported by the State Statistics Committee.
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