According to the Azerbaijan State Statistical Committee, during the first two months 2013 production of oil and condensate decreased by 3.6% or 300,000 tons (more than 2.2 million barrels) against the same period last year and totaled 7.2 million tons.
The oilmen managed to reduce the pace of oil production decline - in January and February 2012 the production decreased by 5.1% against the same period in 2011.
According to the Statistical Committee, during this period production of tank gas in the country totaled 2.9 billion cub.m., down 5% against January and February 2012.
According to the government’s forecast, this year Azerbaijan plans to produce 40,820,500 tons of oil and condensate and 28,822,700,000 cub.m. of gas (including technical gas, which is injected into the oil wells to maintain bed pressure).—0--
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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