Category: Economy

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0141 manat respectively for Nov. 19. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Nov.19, 2020 Nov.18, 2020 Oct.19, 2020 Nov.19, 2019 Daily… Continue reading Azerbaijani currency rates for Nov.19

On September 22, 2020, the State Tax Service under the Ministry of Economy of Azerbaijan registered a branch of a joint operating company for the project to develop the Karabakh field in the Azerbaijani sector of the Caspian Sea, QİA.AZ reports citing the service. According to the service, the Karabakh oil and gas field, discovered in 2000,… Continue reading State Tax Service of Azerbaijan registers company to develop Karabakh oil and gas field

The Committee on Natural Resources, Energy and Ecology of Azerbaijan’s Parliament held a regular session on Nov.17, QİA.AZ reports. Touching upon the proposed amendments to the draft law ‘On Environmental Protection’ (first reading), the Committee’s Chairman Sadig Gurbanov noted that the draft was developed in accordance with the Action Plan to reduce the impact of plastic waste… Continue reading Azerbaijan restricting sale of polyethylene bags, disposable tableware

The State Service for Property Issues under the Azerbaijani Ministry of Economy has held an auction on property privatization, QİA.AZ reports citing the service. The service said that the auction took place on November 17, 2020, and during it, seven objects of state property were privatized, including two small state enterprises and five vehicles. The… Continue reading Some Azerbaijani regional state properties privatized through auction

The price of Azeri LT CIF Augusta, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, decreased by $1.02 on Nov. 17 compared to the previous price, making up $43.49 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 $42.96 per barrel on… Continue reading Azerbaijani oil prices decline

In January-September this year, the volume of load transported on the Azerbaijani part of the Europe-Caucasus-Asia transport corridor was 29,865,600 tons, and the cargo turnover was 6,973,300 ton-km (8,897,300 thousand tons or 22.9% less than 2019), “QİA.AZ” says. According to the State Statistics Committee, freight turnover decreased by 1,282,500 ton-km or 15.5% over the past year. During… Continue reading Cargo transportation via Azerbaijan side of TRACECA drops 23%

Entrepreneurs in Azerbaijan received a new powerful incentive for both the production and export of products – from now on, goods produced for export will be exempt from VAT. The Cabinet of Ministers published the corresponding decision yesterday. First of all, there are several points to be clarified. First, what is a product intended for… Continue reading Exporters in Azerbaijan will benefit from a powerful incentive

According to the State Oil Company of Azerbaijan (SOCAR), Azerbaijan International Operating Company (AIOC) has provided an average of 6 million cubic meters of associated gas per day from the Azeri-Chirag-Guneshli (ACG) block in the Caspian sector through the Sangachal terminal and the Neft Dashlari facility for three quarters this year. “QİA.AZ” says, citing BP-Azerbaijan, that a total… Continue reading AIOC delivers 1.6 billion cubic meters of associated gas to SOCAR

The prices of precious metals rose in Azerbaijan, except for palladium, on Nov. 16, QİA.AZ reports referring to the data published by the Central Bank of Azerbaijan (CBA). The price of gold increased by 30.311 manat or $17.84 (0.95 percent) and amounted to 3,222.4435 manat or $1,900 per ounce. The price of silver went up by 1.3214… Continue reading Gold, silver prices in Azerbaijan start growing