Tag Archives: economy

Tet International Development LLC with Japanese capital and shareholder Taro Sawada cultivates tobacco on an area of about 1,200 hectares in Azerbaijan, Azernews reports citing the Director of the company Namig Asgarov telling in an interview with the local media outlets. Regarding future projects and prospects, Namig Asgarov said that Tet International …

Chisinau is interested in attracting Azerbaijani investors and diversifying gas supply sources with the help of Baku, Deputy Prime Minister and Foreign Minister of Moldova Nicu Popescu said, Azernews reports. Nicu Popescu held a meeting with Azerbaijani Deputy Foreign Minister Khalaf Khalafov. “I stressed Moldova’s interest in attracting as many …

President of the State Oil Company of the Republic of Azerbaijan (SOCAR) Rovshan Najaf has met with Federal Minister for the Board of Investment of Pakistan Chaudhry Salik Hussain and Minister of State for Petroleum Musadik Masood Malik. During the meeting, the sides hailed the mutual friendly and brotherly relations, …

“ACG continued to safely and reliably deliver stable production during the last year. Total ACG production for the full year was on average about 415,400 barrels per day (b/d) (about 152 million barrels or 20 million tonnes in total) from the Chirag (25,200 b/d), Central Azeri (104,100 b/d), West Azeri …

Tax incentives have been introduced to entrepreneurs engaged in agriculture and agro-processing sectors, Azernews reports, referring to the State Tax Service (STS) under the Ministry of Economy of Azerbaijan. The aim of tax incentives is to replace imported products, optimize cost and reduce prices. “As it is known, against the …

Switzerland is interested in the development of cooperation with Azerbaijan through the Middle corridor, Head of Bilateral Economic Relations Division of the Swiss State Secretariat for Economic Affairs (SECO) Erwin Bollinger told Trend. “There is a lot of potentials. This corridor will shorten the way of supplies from East to West,” …

Since about 70 percent of the earth’s cover is water, it is undoubtedly becoming one of the world’s greatest resources. It is an important element for both domestic and industrial purposes and is used in almost all areas and processes of human activities. Nevertheless, a closer inspection of the planet’s …

Azerbaijani Deputy Minister of Energy Samir Valiyev has met with a delegation led by Catarina Bjorlin Hansen, EBRD Regional Director for the Caucasus. The sides discussed the current cooperation and future prospects for the development of electric energy, renewable energy and energy efficiency. The implementation status of the projects implemented …

The total production of Azerbaijan’s Azeri-Chirag-Guneshli (ACG) block of fields has amounted to 114 million barrels during the three quarters of 2022, bp Azerbaijan told Azernews. From January to September, the total production from the block of fields amounted to 418,000 barrels per day. Of this, the Chirag field accounted …

“In recent days, there have been different opinions that the decision of OPEC plus to cut daily oil production by 2 million barrels since November will lead to a deficit in the oil market. I believe that OPEC plus, as always, this time adopted such a decision in order to …