On February 21, 2014 SOCAR put into operation two new petrol stations under its own brand name in Romania, reported SOCAR.
The new petrol stations have been opened in the Romanian cities of Oradea and Timishoara. Construction of petrol stations in Bakau, Cludj, Sibiu, Arad, Bistrita and Iasi cities continues.
“Thus, number of petrol stations operating in Romania under SOCAR brand name reached 25,” reads the statement.
It is planned to increase number of petrol stations under SOCAR brand name in Romania up to 100.
State Oil Company of Azerbaijan (SOCAR) is the only maker of oil products in Azerbaijan (it has two oil refineries) and it also owns petrol stations in Azerbaijan, Georgia, Ukraine, Romania and Switzerland.
In 2013 SOCAR exported from its oil refineries about 1.04 million tons of oil products against over 1.24 million tons in 2012. Last year Azerbaijan made 5.09 million tons of main types of oil products.--0--
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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