In the course of negotiations with the company Rosneft an agreement was reached on oil transportation via Baku-Novorossiysk, amounting to 5 million tons.
Some of this oil will be processed in Baku, and some transported to the European markets by the Baku-Ceyhan pipeline, the SOCAR President Rovnag Abdullayev told the media.
Explaining the objectives of such cooperation, Abdullayev said that Rosneft is one of the largest companies in the world, which produces annually more than 200 million tons of oil. "Today, between our two companies we establish mutually beneficial partnership in oil business," said Abdullayev.
Recall that the Baku-Tbilisi-Ceyhan oil pipeline transports oil from the Azeri fields to the Mediterranean coast of Turkey, and from there on tankers to Europe and Asia. -16D-
Economics
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
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