Category: Economy

The State Oil Company of Azerbaijan (SOCAR) has made a final payment of US $ 480,000 to Canada’s Zenith Energy for the production of the Muradkhanli-Jafarli-Zardab onshore oil fields block, “QİA.AZ” states, citing the Canadian company. Thus, the Canadian company Zenith Energy has completed the handover process over the Contract Rehabilitation Area for Muradkhanli-Jafarli-Zardab onshore oil fields… Continue reading SOCAR makes final payment to Canadian oil company

Azerbaijan exported 69,014 tons of polypropylene worth $56,298 million in January-November 2020, “QİA.AZ” informs, referring to the State Customs Committee (SCC). Polypropylene constituted 3,44% of export in the non-oil sector for 11 months. Polypropylene is produced by the Polypropylene plant (184 KTA) of SOCAR Polymer. The Polypropylene Plant was inaugurated on July 18, 2018, with the participation… Continue reading Azerbaijan exported polypropylene worth $56,298 mln this year

“As a result of the determination of the Supreme Commander-in-Chief, President Ilham Aliyev, and the courage of our glorious army, we have liberated our occupied lands,” Economy Minister Mikayil Jabbarov said. “QİA.AZ” informs that the minister spoke at a meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship during the discussion of the state… Continue reading Mikayil Jabbarov: Azerbaijan’s economy shows stability

Azeri LT CIF crude oil, exported from Azerbaijan to the world markets, increased $ 0.19 (+0.37%), settling at $ 51.09 per barrel, QİA.AZ informs. The lowest price for Azeri Light was recorded on April 21, 2020 ($ 15.81), and the all-time high of $ 149.66 was fixed in July 2008. Both Brent and WTI were down on… Continue reading Azeri Light crude exceeds $ 51

According to the official exchange rates of the Central Bank of Azerbaijan for today, the USD remained unchanged at AZN 1.7000, EUR decreased by 0.32% to AZN 2.0717, and RUB fell by 1.32% to AZN 0.0224. Currency Exchange rates 1 USD (US dollar) 1.7000 1 EUR (Euro) 2.0717 1 RUB (Russian ruble) 0.0224 1 AUD (Australian dollar) 1.2838… Continue reading CBA currency exchange rates (23.12.2020)

The official exchange rate of the US dollar and euro against Azerbaijani manat was set at 1.7 manat and 2.0783 manat respectively for Dec.22. Below are the rates of Azerbaijani manat against world currencies according to the data from the Central Bank of Azerbaijan. Currencies Dec.22, 2020 Dec.21, 2020 Nov.22, 2020 Dec.22, 2019 Daily difference… Continue reading Azerbaijani currency rates for Dec. 22

In January-November 2020, Azerbaijan’s gas sales abroad amounted to 12 billion cubic meters, which is 14% more than in the same period last year, “QİA.AZ” informs referring to the data prepared by the Ministry of Energy on oil and gas production for 11 months. In 11 months of the year, gas exports to Turkey grew by 21.1%,… Continue reading Azerbaijan increases natural gas exports by 14%

In January-November 2020, Azerbaijan produced 31.6 million tons of oil, including condensate, a drop of 2.6 million tons over the same period of 2019, “QİA.AZ” informs, citing the operative data from the Ministry of Energy on the country’s oil and gas production for 11 months of this year. Azeri-Chirag-Guneshli accounted for 21.6 million tons of oil, and Shah Deniz delivered 3.2 million tons… Continue reading Azerbaijan produces 31.6 million tons of oil

The 60th fuel filling station of the State Oil Company of Azerbaijan (SOCAR) opened in Romania yesterday, “QİA.AZ” informs. The new SOCAR-branded gas station is located in the Bihor region on the Hungarian-Romanian border. The station is the fourth SOCAR-branded petrol station in the region and the 16th to be opened in Romania this year. As in… Continue reading SOCAR opens 60th petrol station in Romania

Botas International Limited (BIL), which operates the Baku-Tbilisi-Ceyhan (BTC) pipeline in Turkey, transported 203.6 million barrels of crude oil from the Ceyhan terminal this year. According to “QİA.AZ”, this crude oil amount was loaded on 270 tankers and sent to world markets. So far, 3.563 billion barrels of oil have been shipped on 4,651 tankers from Ceyhan port. BIL was authorized to operate BTC… Continue reading BOTAS sends 270 oil tankers from Ceyhan terminal