SOCAR Trading company, daughter company of SOCAR, has extended contract with the British-Arabian Dragon Oil company for delivery of oil it extracts on the Turkmenistan shelf of the Caspian Sea till the end of 2014.
SOCAR Trading delivers Turkmenistan oil to Baku by tankers of the Caspian Shipping Company (CASPAR) and then pumps it into the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Oil transportation from the Turkmenistan shelf started in July 2010. Till September 1, 2013 8.6 million tons of Turkmenistan oil was transported via BTC.
The company reported that Turkmenistan oil delivered within the framework of the contract will be sold with the discount of 14-17% of Brent oil price.
Dragon Oil headquarters is based in Dubai, it was registered in Ireland and its bloc of shares is owned by Emirates National Oil Co Ltd.—0-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review