Rosneft President Igor Sechin does not rule out the possibility of oil reverse via the Baku-Novorossiysk pipeline.
"What does the oil reverse mean? Did you know that the pipe from Russia to Baku has been built towards Baku? May be what is happening now is a reverse," Sechin told journalists yesterday.
"If we deliver Urals oil to Baku's plants, we will get efficient transportation and receive Azeri Light from Ceyhan, for instance. It seems to me that this is simply an efficient work at the markets and use of all possibilities," Sechin added.
Last week SOCAR President Rovnag Abdullayev said that SOCAR and Rosneft have been negotiating possible reverse of 5 million tons of Urals oil a year via the Baku-Novorossiysk oil pipeline.
He said the companies have been negotiating partial transportation of Urals oil via the Baku-Tbilisi-Ceyhan pipeline, from which it could be delivered to the oil refineries in Italy and Germany, in which Rosneft has its own shares.
Abdullayev also said that SOCAR and Rosneft and interested in implementation of trading operation projects. In particular, Rosneft is interested in SOCAR's possibilities in Fujairah (UAE), Ceyhan (Turkey), African countries, Singapore and others, where SOCAR has possibilities for storage of oil cargoes. The possibility of refining part of the oil, which will be transported to Azerbaijan via the Baku-Novorossiysk pipeline, is also considered, reported Russian Prime news agency.-0--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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