From January to April 2016 SOCAR extracted 2,522,800 tons of oil, down 8.5% against the same period last year.
According to the data released on SOCAR’s web site, in April 2016 the company extracted 624,500 tons of oil.
From January to April 2016 Azerbaijan extracted 13,977,300 tons of oil (reduction by 1.8%), of which 3,469,800 tons in April.
In 2015 SOCAR extracted 8,160,500 tons of oil, production in Azerbaijan in general totaled 41,689,000 tons.—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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