Press Review - May 8, 2018

The revenues from the Azeri-Chirag-Guneshli fields, the situation in the financial market, and the damage caused by stone quarries to the environment are the leading topics of today's press.

The newspaper Azerbaijan assesses the profits coming from the Azeri-Chirag-Guneshli fields. The author, referring to the State Oil Fund, informs that for 4 months of this year the above-named deposits gave the country 2,823 million US dollars.

Daily production from ACG is on average 597 thousand barrels, and for a quarter it is about 7 million tons of oil.

From 2001 to May 1, 2018, 131,309 million dollars was extracted from ACG fields.

The Novoye Vremya newspaper criticizes the activities of the Financial Markets Supervision Authority (FIMSA), arguing that a single regulator has not been able to ensure the effectiveness of the banking system.

Despite the fact that the banking sector completed the year 2017 with a profit, 11 out of the 19 banks completed the year with losses. The volume of overdue loans remains high. All this gives grounds to say that 31% of EU companies consider the FIMSA policy to be ineffective.

The newspaper Yeni Musavat writes about the closure of stone quarries, which has caused serious damage to the environment. At the same time, their closure has affected the growth in the cost of gravel and other construction materials.

Currently, there are 238 stone and sand-gravel quarries in the country. In the activities of these quarries, there are violations of law in the form of unauthorized seizure of land.