Category: Economy

The Central Bank of Azerbaijan (CBA) has attracted 200 million manat ($117.6 million) at the deposit auction, QİA.AZ reports citing the CBA. According to the CBA, the deposit auction was held on November 16, 2020, and the supply of banks at the auction exceeded demand by more than 3 times, reaching 758.3 million manat ($446… Continue reading Central Bank of Azerbaijan holds deposit auction

The leadership of Armenia has illegally exploited more than 160 deposits of various precious metals in the occupied territories of Azerbaijan for nearly 30 years, Head of the Department of the Institute of Geology and Geophysics of Azerbaijan National Academy of Sciences (ANAS), Doctor of Geological and Mineralogical Sciences, Professor Musa Mammadov told QİA.AZ According… Continue reading Azerbaijani scientist talks Armenia’s illegal exploitation of precious metal deposits

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0069 manat respectively for Nov. 13. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Nov.13, 2020 Nov.12, 2020 Oct.13, 2020 Nov.13, 2019 Daily… Continue reading Azerbaijani currency rates for Nov. 13

Botas International Limited (BIL), which operates the Baku-Tbilisi-Ceyhan (BTC) pipeline in Turkey, transported 183.8 million barrels of crude oil from the Ceyhan terminal this year. According to “QİA.AZ”, this crude oil amount was loaded on 244 tankers and sent to world markets. So far, 3.544 billion barrels of oil have been shipped on 4,625 tankers from… Continue reading BOTAS sends 244 oil tankers from Ceyhan terminal

The US Energy Information Administration (EIA) has changed its forecast for average daily oil production in Azerbaijan for 2021, “QİA.AZ” says, citing the document by the Short-Term Energy Outlook-November 2020. According to the updated EIA forecast, in the first quarter of next year, the country’s average daily oil production will be 710 thousand barrels. It is 10… Continue reading EIA changes forecast for oil production in Azerbaijan for next year

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0101 manat respectively for Nov. 11. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Nov.11, 2020 Nov.10, 2020 Oct.11, 2020 Nov.11, 2019 Daily… Continue reading Azerbaijani currency rates for Nov.11

In October this year, the country’s daily oil production (including condensate) was 675.2 thousand barrels, said the Azerbaijani Energy Ministry. “QİA.AZ” informs that 587,000 barrels were crude oil, and 88,200 barrels- condensate. According to the Declaration of Cooperation, Azerbaijan, which produced 718,000 barrels of crude oil per day in October 2018, must maintain crude oil production in August-December this year at 587,000 barrels, reducing… Continue reading Azerbaijan fulfills OPEC plus commitment in October

Price for January of 2021 agreement on the exportation of Brent crude oil has decreased by 0.9% to stand at $ 42,02 for a barrel during trade operations held in ICE London Intercontinental Exchange, QİA.AZ-Economics reports.  The price of the WTI brand has decreased by 1.19%  to stand at $ 39,81 by exporting in December of… Continue reading Oil prices decrease again

The average price for Azeri Light CIF oil, produced at the Azeri-Chirag-Deepwater Gunashli (ACG) field, amounted to $39.75 per barrel last week (from Nov.2 through Nov.6), which is 46 cents (1.2 percent) more compared to the previous price, QIA.AZ reports. Last week, the maximum price for Azeri Light CIF oil amounted to $40.98 per barrel,… Continue reading Weekly review of Azerbaijani oil market

An arbitral decision on the case between SOCAR Overseas and Palmali was made at the London International Arbitration Court (LCIA) on November 5, 2020, Trend reports citing SOCAR. According to the data, the decision was made in favor of SOCAR Overseas. “SOCAR’s claims against Palmali Group of Companies were satisfied and compensation was set at… Continue reading SOCAR wins court case over commercial relation with Palmali