Business

The price of the AZERI LT CIF oil, produced at the Azeri-Chirag-Gunashli block of oil and gas fields, amounted to $78.12 per barrel at the Italian port of Augusta on Oct. 25, or $0.06 more than on Oct. 24, a source in Azerbaijan’s oil and gas market told Trend Oct. …

A meeting with representatives of Chinese companies operating in Azerbaijan has been held at the State Customs Committee (SCC), the committee said in a statement Oct. 25. The meeting has been attended by First Deputy Chairman of the Committee, Major General of the Customs Service Ismayil Huseynov, Deputy Chairman of …

An alternative route for the supply of raw materials from Azerbaijan to Tajikistan for the needs of the Tajik Aluminum Company (TALKO) has been established, the Tajik embassy in Azerbaijan told Trend on October 5. This route implies deliveries from Azerbaijan through Russia, Kazakhstan and Uzbekistan to Tajikistan and thus …

BP and Baku 2017 Islamic Solidarity Games today signed an agreement that will see BP become the Official Oil and Gas Partner for the Games, which will be held in Baku from 12-22 May. This partnership is part of BP’s commitment to supporting the development of Azerbaijan’s sporting potential and …

On 24 July 1949, 60 years ago to the day that this is written, an intrepid group of oil workers began to drill into the bed of the Caspian Sea. They were some 42 kilometres south-east of the Absheron Peninsula – that “beak” of Azerbaijan which juts into the world´s …

Involvement of private businesses to the process of solving and dealing with environmental issues is becoming new trend in the international arena. As a result of industrialization, and globalization of economy the number of private businesses regulating different aspects of economy grows rapidly. Undeniably this growth rate led to construct …

Taxation in Azerbaijan is regulated by the Tax Code and other relevant legislative acts. Tax Code establishes the statutory tax regime and defines taxation in the industrial and technological parks. In addition, Tax Code recognizes the existence of special tax regimes. Such special tax regimes are existent predominantly in the …

A company may start operations in Azerbaijan from the moment of state registration. The registration of commercial legal entities is handled by the Ministry of Taxes within 2 business days. Limited liability companies with local investment can be registered online. The Law “On State Registration of Legal Entities and State …

Political and economic stability 2nd fastest growing economy among 179 countries in terms of GDP per capita growth in 2001-2010 (The Economist). In the past 10 years: GDP grew by 3 times, non-oil GDP by 2.5 times, GDP per capita by 2.6 times, strategic currency reserves by 29 times. Foreign …

The research studies the relation between oil revenues and budget structure in oil dependent country – Azerbaijan. In the paper I will analyze Norwegian, Russian model of oil revenue management. The study shows how oil prices influenced these oil-exporting countries’ economies. I will try to analyze the changes in budget …