During 2015 Azerbaijan has extracted 41,689,000 tons of oil, including gas condensate, which is down 0.8% against 2014, according to the report of the Azerbaijan State Statistical Committee.
According to the report, in 2015 the country extracted 41,605,000 tons of tank oil and condensate, down 0.7% against 2014.
Last year Azerbaijan exported 35.1 tons and the remaining volume was refined by two SOCAR’s oil refineries.
According to the governmental forecasts, this year it is planned to extract 40.7 million tons of oil and condensate. However, the production companies told Turan that the production will be about 40.2-40.3 million tons.—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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