Category: Economy

The new meetings of technical commissions on the Khudaferin-Giz Galasy and Ordubad-Marazad projects implemented by Azerbaijan and Iran on the Araz River were held in Azerbaijan’s Nakhchivan, the Energy Ministry told QİA.AZ The aim of the meeting was to discuss the tasks issuing from the agreement on construction and commissioning of Ordubad and Marazad hydroelectric… Continue reading Progress of HPP projects on Araz River discussed in Azerbaijan’s Nakhchivan

In January-November this year, outputs worth $ 122.8 million were exported from the Eastern Anatolia region of Turkey to the Nakhchivan Autonomous Republic, “QİA.AZ” says, citing the Eastern Anatolian Exporters’ Association. Over the past 11 months, companies have exported $ 1,845 million worth of goods, a growth of 10% from the same period of 2019. During the reporting period, along with Azerbaijan, products… Continue reading Azerbaijan imports $123 million worth of products from Eastern Anatolia

In January-November 2020, Azerbaijan produced oil products worth AZN 2.809 bln. “QİA.AZ” informs referring to the State Statistical Committee; this figure was 1.8% less than in January-November last year. During the reporting period, 1,066.3 thousand tons of gasoline, 1.881 million tons of diesel fuel, 22.6 thousand tons of lubricants, 347.1 thousand tons of petroleum bitumen were… Continue reading Azerbaijan’s gasoline production rises 2,3 %

The Petkim petrochemical complex, one of the assets of the State Oil Company of Azerbaijan (SOCAR) in Turkey, has been elected the leader of the chemical sector in the Turkishtime magazine’s AR-GE 250 survey, “QİA.AZ” says, referring to SOCAR. Petkim is a leading company in terms of investment in the application of new technologies in production. According… Continue reading Petkim becomes leader in chemical industry

Energy ministers of Azerbaijan and Turkey will sign a memorandum of understanding today, “QİA.AZ” informs referring to Turkish media. After the liberation of Karabakh, the energy ministers of the two countries will meet to provide the Nakhchivan Autonomous Republic with uninterrupted natural gas. Nakhchivan AR’s gas needs will be met through the Igdir-Nakhchivan pipeline. The project will… Continue reading Azerbaijan and Turkey to build new gas pipeline

Department for International Trade Department of the British Embassy in Azerbaijan and the British Business Group held an online seminar on “Renewable Energy Sector in Azerbaijan: Changes and Opportunities,“QİA.AZ” says, citing the Ministry of Energy. The seminar was aimed at informing British companies about the ongoing reforms, work done, and plans in the renewable energy sector… Continue reading Britain eyes investing in Azerbaijan’s renewable energy sector

SOCAR Trading, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), has won a tender to purchase Turkmen oil produced by Eni Turkmenistan, “QİA.AZ” says, citing Argus media. Thus, SOCAR Trading has returned to its portfolio some of the oil purchased by Vitol in Turkmenistan since 2017. As a result of this tender, SOCAR Trading has… Continue reading Another victory- SOCAR wins tender for Turkmen oil purchase

The coke, produced at the Heydar Aliyev Refinery of the State Oil Company of Azerbaijan (SOCAR), is already being exported to the People’s Republic of China, “QİA.AZ” says, referring to a subsidiary of Azerbaijan Railways CJSC (ADY), ADY Express LLC. A subsidiary company transports this cargo to the Georgian port of Poti. The coke, loaded into semi-wagons… Continue reading ADY Express starts transportation of coke produced in Azerbaijan

Japan’s GDP for the fiscal year 2019 (April 1, 2019 – March 31, 2020) has declined for the first time in five years, “QİA.AZ” says, citing Kyodo news agency. According to the government’s updated data, the decrease was 0.3%. The forecasts believe the figure should have been at the level of 0.0%. The main reason for the… Continue reading Japan’s GDP declines for first time in five years

Saudi Arabia raised oil pricing for customers in its main market of Asia after optimism over coronavirus vaccines caused crude prices to rise to an eight-month high last week, “QİA.AZ” informs citing the Bloomberg. The increase, the biggest in five months, indicates the world’s largest oil exporter is confident global energy demand is strong enough to absorb… Continue reading Saudi Aramco raises oil prices for Asia