Oilers of Azerbaijan and Iran have agreed to cooperate According to the official website of the State Oil Company (SOCAR), the state and prospects of cooperation between the two countries in the oil and gas sector, the opportunities of the parties in the fields of oil and gas production, transportation and export, as well as a number of issues related to the seasonal transport of gas between the two countries, were discussed during the visit to Iran of the delegation headed by the First Vice-president of SOCAR Khoshbakht Yusifzadeh.
During his visit from 18 to 20 August at the invitation of the Iranian company for the exploration and production in the Caspian Sea (KEPKO), the SOCAR delegation held meetings at the Ministry of Petroleum of Iran and at the oil and gas companies in the country. The parties stressed the need to expand the Azerbaijani-Iranian cooperation in the Caspian Sea and in the international oil and gas projects.
The SOCAR delegation also visited the Research Institute of Petroleum Industry in Tehran, where they got acquainted with the research of Iranian scientists in the oil and gas industry and nana technologies. -17D-
Economics
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Azerbaijan’s State Agency for Tourism has inspected more than 300 hotels and lodging establishments across Baku, Sumgait, and the Absheron district as part of its preparations to accommodate international visitors attending the upcoming COP29 climate summit. Approximately 220 of these locations have now received an official star rating, with 10 hotels designated as five-star, 20 as four-star, and the remainder across other star ratings.
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For several months now, there have reportedly been delays in the disbursement of pensions and social payments in Azerbaijan. Pensioners say that the delays range from three to five days. For example, they emphasize that while disability pensions used to be paid by the 15th of each month earlier in the year, for the past three months, payments have been made on the 20th or 21st.
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Azerbaijan's revenues from tobacco exports have skyrocketed, with earnings from the first eight months of 2024 reaching $15.6 million, a nearly fivefold increase from $3.2 million during the same period last year. The sharp rise highlights the expanding international demand for Azerbaijan's tobacco products.
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Azerbaijan imported 11,100 tons of tea worth $57.9 million in the first nine months of this year, according to the State Statistics Committee, marking a 14.4% rise in volume and a 13.9% increase in value compared to the same period in 2023. However, with only 500 tons of tea exports totaling $4.8 million, Azerbaijan remains heavily dependent on imported tea, which meets 98% of domestic demand.
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