Category: Economy

Negotiations between the Azerbaijan’s Energy Ministry, the United Arab Emirates’ Masdar company and Saudi Arabia’s ACWA Power company on the project documentation in the field of use of renewable energy sources are in the final stage and will be completed in the near future. This was stated at the fourth meeting of the commission “on the… Continue reading Azerbaijan’s renewable energy talks with UAE, Saudi Arabia nearing completion

The Minister of Economy Mikayil Jabbarov met with the Ambassador Extraordinary and Plenipotentiary of the State of Qatar to the Republic of Azerbaijan Faisal bin Abdullah Hamad Abdullah al Hinzab. “QİA.AZ” informs referring to the Ministry of Economy. They stressed the high level of relations between Azerbaijan and Qatar and the importance of mutual visits in… Continue reading Qatari companies have been invited to invest in Azerbaijan

Azerbaijan will begin producing off-road cars in March 2021. “QİA.AZ” informs, Chairman of the Board of Azermash OJSC Emin Akhundov said. According to Akhundov, negotiations are underway with several companies in this regard: “There is a great demand for SUVs in our country, and taking this into account, we plan to produce them from March. We have… Continue reading Azerbaijan to start producing SUVs next year

The Asian Development Bank (ADB) will present a project on supporting and developing road safety initiatives for countries that have joined the Central Asia Regional Economic Cooperation (CAREC) program, QİA.AZ reports citing the ADB. “The project will be implemented in Azerbaijan, Afghanistan, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Pakistan, and Uzbekistan. The project budget is $1.5 million,”… Continue reading ADB to support road safety project in Azerbaijan

Record-breaking average cotton yield has been observed in Azerbaijan in 2020, the Ministry of Agriculture told QİA.AZ Although the cotton harvesting has not yet been completed, farmers have already collected 320,542 tons of cotton from the fields and handed it over to reception centers. “The given figure is 25,500 tons more compared to the last… Continue reading Record-breaking average cotton yield observed in Azerbaijan

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by $0.09 on Nov. 26 compared to the previous price, making up $48.28 per barrel, QİA.AZ reports with reference to the source from the country’s oil and gas market. The price of Azeri LT FOB Ceyhan amounted to $47.74 per… Continue reading Prices of Azerbaijani oil drop

In September this year, Turkey imported 753 million cubic meters of natural gas from Azerbaijan. “QİA.AZ” says referring to the Turkish Energy Market Regulatory Authority (EPDK), the figure is 8% less than in the same period last year. Azerbaijan ranked second in Turkey’s total gas imports. In January-September of this year, Azerbaijan exported 8 billion 278.19… Continue reading Azerbaijan increases gas exports to Turkey by more than 20%

Yusif Abdullayev, acting head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), met with Viktor Sederkenyi, Ambassador Extraordinary and Plenipotentiary of Hungary to Azerbaijan, “QİA.AZ” says, citing AZPROMO. Abdullayev spoke about the development of the non-oil sector in the country, the continuous improvement of the business environment, the expansion of exports, the promotion of the… Continue reading Azerbaijan, Hungary to increase mutual investments

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0272 manat respectively for Nov. 26. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Nov.26, 2020 Nov.25, 2020 Oct.26, 2020 Nov.26, 2019 Daily… Continue reading Azerbaijani currency rates for Nov. 26

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, increased by $0.3 on Nov. 25 compared to the previous price, making up $48.37 per barrel, QİA.AZ reports with reference to the source from the country’s oil and gas market. The price of Azeri LT FOB Ceyhan amounted to $47.83 per barrel on… Continue reading Azerbaijani oil prices on the rise