From January to August 2014 3,823,067 tons of transit oil from the right cost of the Caspian Sea was transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline, reported SOCAR press office.
During the same period last year the volume of pumping of transit oil via BTC totaled 2,053,224 tons. This means that during 8 months pumping of transit oil via BTC increased by 86.2%
Such a sharp increase in transportation of transit oil is caused by beginning of transportation of Kazakhstan oil via BTC since November 2013. Before that only Turkmenistan oil was transported.
* Transportation of Turkmenistan oil via BTC started in July 2010. Last year the volume of transportation totaled 2.9 million tons. In 2012 3,048,204 tons of Turkmenistan oil was pumped via BTC, in 2011 – 2,237,027 tons and in 2010 – only 1,270,000 tons.—0—
Economics
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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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