Since 2015 State Oil Company of Azerbaijan (SOCAR) will start gasoline production in correspondence with Euro-3 standards, David Mammadov, SOCAR Vice President for Refining, told journalists at the session of CEIBC while commenting on the statement of Ramiz Hasanov, chairman of the State Committee for Standardization, Metrology and Patent, about introduction of Euro-3 standard in Azerbaijan since January, 2014.
“The Euro-3 standard will most likely be applied to the engines of cars imported from abroad,” Mammadov said.
He said transition to Euro-5 standard fuel in Azerbaijan will be on a stage-by-stage basis.
“We plan to transit to Euro-5 in 2023-2025, when the new oil and gas refining complex is launched in Baku’s Garadag district.
Till that time Azerbaijan will manufacture Euro-3 standard fuel,” SOCAR Vice President.—0—
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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