Transneft believes that the reverse use of the Baku-Novorossiysk oil pipeline is undesirable, Transneft President Nikolai Tokarev told Interfax.
“This means that Rosneft’s oil would have been transported to the oil refinery in Baku for the refining bypassing the Novorossiysk port and the Azerbaijani partners would supply the same volume of oil, but on the Turkish territory in Ceyhan. Rosneft would receive oil in Ceyhan via the short transport route and would deliver it to its plants in Italy,” Tokarev explained.—0—
Economics
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Azerbaijan’s national carrier AZAL and Israel’s El Al Airlines have announced a new partnership under a codeshare agreement, allowing passengers of both airlines to access joint flights, the carriers said in a statement on Sunday.
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After a nearly five-year hiatus, passenger train services between Azerbaijan, Russia, and Georgia may soon resume, with tentative plans set for March or April. However, uncertainty remains as officials in Baku signal a more cautious approach, citing ongoing restrictions on land border crossings.
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Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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