Russian Railways, Iran and Azerbaijan signed a protocol on cooperation in the project North-South Corridor, said the First Vice-President of Russian Railways Alexander Misharin.
"The transit project North-South Corridor is formed by four parties - India, Russia, Iran and Azerbaijan, and last week we signed a protocol on cooperation with Iran and Azerbaijan. By August 7, we will have sent a demonstration container train from Mumbai. It will bring goods to Moscow on the tariff rates agreed with the specific participants in this corridor," said Misharin. -02D-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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