In the first eight months of this year the volume of industrial production in Azerbaijan amounted to 17.6 billion manats. According to estimates of the State Statistics Committee, the real growth of the industry compared to the same period of 2014 was 2.3%. However, in value terms, the production fell by 5 billion manats.
According to the SSC, the production of non-oil industrial output amounted to 4 985 200 000 manats, which in stable prices was by 11.3% over the same period last year. In current prices the growth was at 6.9%. The share of non-oil enterprises accounted for 28.1% of industrial output from the beginning of the year.
In August compared to July, the industrial production fell by 6.8%.
In January – July the industrial enterprises had an average of 183.1 thousand workers, 0.4% less than in the same period of 2014. -----08D
Economics
-
Rovshan Najaf, President of the State Oil Company of Azerbaijan (SOCAR), and Oleg Korobchenko, Deputy Prime Minister and Minister of Industry and Trade of the Republic of Tatarstan, discussed cooperation and expressed satisfaction with the partnership between SOCAR and the Russian oil company Tatneft.
-
Azerbaijan’s drive to attract investment into its industrial and agricultural zones is gaining momentum, with the government registering 31 new resident companies across economic zones in 2023. The Economic Zones Development Agency (EZDA) also granted non-resident status to one company, marking a new phase in the country’s efforts to stimulate economic growth in post-conflict areas and beyond.
-
The State Oil Company of Azerbaijan (SOCAR) is stepping up its international expansion in upstream operations, marking a strategic shift in its global portfolio. The company’s recent acquisitions— a 10% stake in Israel’s Tamar gas field and a 3% share in the SARB and Umm Lulu offshore oil projects in Abu Dhabi—signal its growing ambitions beyond Azerbaijan’s borders.
-
BP plans to drill 19 wells at the Azeri-Chirag-Guneshli (ACG) oilfield block in 2025, maintaining its drilling activity at the same level as in 2024, a senior company executive said on Tuesday.
Leave a review