From January to March 2016 State Oil Company of Azerbaijan (SOCAR) exported 599,600 tons of Azerbaijani oil transported via the Baku-Supsa oil pipeline from the Supsa terminal.
SOCAR press office reported that in quarter 1, 2015 SOCAR exported 762,029 tons of oil from the Supsa port. Thus, from January to March 2016 SOCAR’s oil shipment from the Supsa port decreased by 21.4%.
Oil extracted from the Chirag field, which is developed by BP-Azerbaijan company, is exported to the world markets via the Baku-Supsa pipeline.
* In 2015 SOCAR exported 2,794,905 tons of oil from the Supsa port.—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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