On September 5 a 10% export duty on copper was introduced in Azerbaijan; the amount of the fee per ton of goods is not less than 300 US dollars. The Cabinet of Ministers adopted a resolution on this issue on August 2. The document (http://goo.gl/C0um5m) indicates that the fee will be applied in relation to not-enriched and enriched in copper, its various alloys, anode copper, scrap copper. Customs duty on export of various kinds of metals is applied since 2001. The amount of the fee for non-ferrous metals is 5-7 dollars, for copper and aluminum - $15 per a ton. Thus, the fee for the export of copper increased by 20 times. The government does not note the reason for such a decision. It is noted only that the opinion of the Ministry of Economy was taken into account while making the decision. The main exporter of copper in Azerbaijan is the Anglo-Asian Mining Company, which is engaged in mining of gold deposits "Gadabay" and "Gosha" in the west of the country. In 2015, Azerbaijan exported 5,095 tons of copper worth $7.385.000. The average export price of the goods was $ 1,450 per ton. The world stock prices for honey last year amounted to at least $4.000. - 08ED-
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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