For the first time since 1980 US has surpassed Russia on volume of natural gas production and now it is going to surpass on the volume of extracted oil. According to the Wall Street Journal (WSJ), this could have happened already in July 2013, when US extracted oil and gas equivalent to 22 million barrels of oil against 21.8 million barrels made by Russia.
The report recently published by the US Energy Information Department reads that from January to July 2013 US extracted 493.8 billion cub.m. According to the Russian Ministry of Energy, during 7 months, 2013 Russia extracted 383.55 billion cub.m. of natural gas.
According to the analysts of WSJ, during the past five years US reduced natural gas import by 32% and crude oil by 15% and switched to locally made energy resources.
US Ministry of Energy earlier reported that in 2013 total volume of production of liquid hydrocarbons and bio fuel in the country had to hit a record level of 11.4 million barrels a day.
In may 2012 the International Energy Agency (IEA) published the report “Golden Rules of Golden Gas Age”, which predicted that Russia will yield its position of gas production leader to the US. According to the forecast of the IEA, in 2035 Russia will extract 784 billion cub.m. of gas, while US – 821 billion cub.m. China will become the third biggest gas maker and in the coming quarter of a century its gas production will increase almost fivefold.
In January 2013 BP published an updated version of the forecast, which reads that this year the US will outrun Saudi Arabia and Russia and occupy the first place in the world on production of liquid hydrocarbons and bio fuel. According to BP, from 2013 to 2023 Russia will occupy the second place on liquid fuel production and then it will yield it to Saudi Arabia. By 2027 Saudi Arabia will again become the world oil leader.
Russian Central Dispatcher Department of the fuel-energy sector reported that from January to September 2013 gas production in Russia increased by 0.99% against the same period last year and totaled 482,354 billion cub.m. The biggest Russian gas maker Gasprom has reduced gas production by 1.9% (to 344,694 billion cub.m.)—0-
Economics
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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The architectural company El & En has received several contracts worth a total of AZN 805,593 from the Committee for Urban Planning and Architecture. Additionally, the Territorial Construction Planning Center commissioned projects from the private company El & En worth several hundred thousand manats. These architectural projects involve work in liberated territories and other regions of Azerbaijan. The co-owner of this company, along with his son, is Elbay Gasimzade, the head of the Public Council under the State Committee for Urban Planning and Architecture and simultaneously the Chairman of the Union of Architects.
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The State Oil Company of Azerbaijan (SOCAR) will begin issuing "green" bonds on January 15, with a total issuance volume of USD 200 million, according to an official SOCAR statement cited by Turan.
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On January 10, 2025, Azerbaijani President Ilham Aliyev signed a decree dismissing Samir Sharifov from his position as Minister of Finance. Having held this role since 2006, Sharifov has been appointed Deputy Prime Minister, marking a shift in his responsibilities while maintaining his influence within the government.
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