From January to November 2015 State Oil Company of Azerbaijan (SOCAR) has extracted 7.58 million tons of oil on the onshore and offshore fields against 7.7 million tons extracted during the same period in 2014, reads information posted on SOCAR’s web site.
SOCAR extracts oil from Azerbaijani onshore and offshore fields at the expense of its own funds. Part of this oil is refined at the Baku’s oil refineries and another part is exported via the Baku-Novorossiysk pipeline. In 2014 SOCAR has extracted 8.32 million tons of oil against 8.31 million tons in 2013.—0—
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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