Since early year oil products production in Azerbaijan went down by 1.6%
From January to October 2015 oil products production in Azerbaijan decreased by 1.6% to 2,047,700,000 AZN against the same period in 2014.
According to the State Statistical Committee, black oil production increased by 61.3% up to 302,900 tons.
From January to October 2015 petrol production went down by 0.3% to 1,020,500 tons, virgin petrol by 5% to 162,500 tons, diesel fuel by 0.9% to 2,362,800 tons, kerosene by 2.4% to 573,500 tons, lubricating oils by 57.2% to 19,500 tons and oil bitumen by 32.3% to 142,000 tons.
At present Heydar Aliyev oil refinery has been operating in Azerbaijan (specializes in manufacture of light fractions). Since January 1, 2015 Azerneftyag oil refinery (specializes in manufacture of heavy fractions) has been joined to the Heydar Aliyev oil refinery.—0—
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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