Next year SOCAR does not plan to start dismantling of Azerneftyag oil refinery, which specializes in manufacture of heavy fractions.
SOCAR Vice President Davud Mammadov said that there is no need in that.
“Azerneftyag oil refinery has merged with the Heydar Aliyev oil refinery early last year. However, the process of Azerneftyag oil refinery shutdown is going on. This process will be completed in five years,” SOCAR Vice President said.
He said dismantling the shutdown oil refinery is not planning now. This issue could be discussed in 2-3 years.
A source from SOCAR told Turan that currently Azerneftyag has one operating installation manufacturing bitumen. After upgrade the bitumen installation will be put into operation on the Heydar Aliyev oil refinery in mid-2018. According to the instructions, the new installation will be first tested for 4-5 months and then by 2019 Azerneftyag will suspend its operations. Azerneftyag will need over a year and a half for dismantling of equipment and cleaning the site.—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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