Economy

Azerbaijani oil price has decreased on the world markets. The price of a barrel of Azeri Light crude oil fell $0.06 to stand at $59.63.

The price of Azerbaijani oil has increased on the world markets. The price of a barrel of Azeri Light crude rose $1.42 to stand at $59.69.

Azerbaijan will open a trading house in Dubai, the UAE on January 10, Azerbaijan’s Ministry of Economy said. The trading house is created to support the promotion of Azerbaijani goods under the ‘Made in Azerbaijan’ brand in Dubai, and engage in marketing research, participation in exhibitions and other activities related …

The milestone was achieved at the end of December, exactly 12 years after we first announced the start-up of commercial gas production from the field and start-up of operations of the South Caucasus Pipeline. First production from the field announced on 15 December 2006 marked the start of Stage 1 …

Sheki, located in a picturesque mountainous region of Azerbaijan, 380 km west of Baku, has an ancient history dating back about 2500 years. It has preserved many historical sights, a special place among which is occupied by the Sheki Khans’ Palace, one of the best examples of Azerbaijani architecture. Residents …

Azerbaijan is a very active country in the International Telecommunication Union (ITU) and is respected for its activities in the union, François Rancy, director of ITU Radiocommunication Bureau, told Trend. Speaking of the broadcasting services of the ITU member countries, Rancy said that to use a frequency band, the countries …

Indian oil companies are looking forward to expand their business with partners in Azerbaijan’s oil and gas sector, Sanjay Rana, the Indian Ambassador to Azerbaijan, told Trend. He reminded that an Indian multinational oil and gas company Oil and Natural Gas Corporation (ONGC) has share in Azerbaijan’s Azeri-Chirag-Gunashli (ACG) oil …

The value of investments of Azerbaijan’s state oil company SOCAR in Turkey will reach $19.5 billion, director general of the STAR oil refinery of SOCAR, Mesut Ilter, told the Turkish media Jan. 5, Trend reports. Speaking about current projects, Ilter noted that the STAR refinery (one of SOCAR’s assets in …

Azerbaijani oil price has increased on the world markets. The price of a barrel of Azeri Light crude oil rose $1.93 to stand at $58.27.

Individuals in Azerbaijan will be able to get back a part of the value added tax (VAT) during purchases in retail and catering networks after development of a corresponding mechanism, the Ministry of Taxes told Trend. Since Jan. 1, 2019, amendments to the Tax Code have entered into force in …