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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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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