Share of oil and oil products in Azerbaijan’s export starts declining, according to the Azerbaijan State Customs Committee.
During 2013 89.48% of Azerbaijan’s export fell to oil and oil products. In 2012 this showing constituted 90.16%.
According to the Committee, during 2013 84.44% of Azerbaijan’s export fell to crude oil and 5.04% to oil products. Oil export increased by 0.28% and oil products export dropped by 8.53% against 2012.
In 2012 84.63% of Azerbaijan’s export fell to crude oil and 5.53% to the oil products.—0—
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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