During three quarters this year State Oil Company of Azerbaijan (SOCAR) has extracted 5.15 billion cub.m. of tank gas. Tank gas production increased by 30 million cub.m. against the same period last year, according to the data posted on SOCAR’s official web site.
The same source reported that in September 2013 SOCAR extracted 557.3 million cub.m. of gas against 551.2 million cub.m. of gas during the same period in 2012.
Gas production increase has been achieved at the expense of drilling and putting into operation of several gas wells by SOCAR on its offshore fields since early this year.
During 2012 SOCAR extracted 7.46 billion cub.m. of tank gas against 7.08 billion cub.m. in 2011.—0---
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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