Business

15 May 2009 [09:44]

Next round of talks on Azerbaijan's WTO accession to be held in June

The seventh meeting of the working group on accession of Azerbaijan to the World Trade Organization will be held in Geneva in June, Deputy Minister of Foreign Affairs of Azerbaijan Mahmud Mamedkuliev told reporters.
14 May 2009 [17:42]

Number of people occupied in transport and communications sectors increasing in Azerbaijan

In the first quarter of 2009, the number of employees in transport enterprises in Azerbaijan increased by 1,400 people to 70,700 people, the State Statistical Committee said.
14 May 2009 [15:57]

Price of Azerbaijani gas for Turkey to be re-considered in line with market prices: minister

Cost of gas which is produced from the Azebraijani gas and condensate Shah Deniz field for Turkey will be re-considered in line with the market prices for gas, Turkish Energy and Natural Resources Minister Taner Yildiz said.
14 May 2009 [15:39]

Azerbaijani top energy officials ‘to visit Turkey’

Turkish Energy and Natural Resources Minister has informed journalists.
14 May 2009 [12:49]

Azerbaijan to attend meeting of CIS Council on railway

A meeting of the CIS Council on Rail Transport will be held in Minsk on May 21-22, Press Secretary of the Azerbaijani State Railway Office (ASRO) Nadir Azmammadov said on May 14.
14 May 2009 [11:51]

OPEC forecasts increase in Azerbaijani oil export

The Organization of the Petroleum Exporting Countries (OPEC) forecasts that the export of Azerbaijani oil will reach 0.96 million barrel per day in 2009.
14 May 2009 [10:54]

Shipment of Kazakh oil via Baku-Tbilisi-Ceyhan to up in June

U.S.-Kazakhstan joint venture Tengizchevroil will ship 1.2 million barrels of Kazakh oil from the Tengiz field from the Turkish port of Ceyhan in June compared to 600,000 barrels in May.
14 May 2009 [10:12]

SOCAR commissioned a new high-debit well at next field

The State Oil Company of Azerbaijan (SOCAR) continues work aimed at increasing production at old fields.
13 May 2009 [16:44]

U.S. forecasts increase of oil export from Azerbaijan

The United States Energy Information Agency (EIA) predicts an increase of oil deliveries from Azerbaijan to 0.12 million bpd to 1 million barrels in 2009.
13 May 2009 [16:10]

Engineering of Nabucco's pipeline route begins

Nabucco gas pipeline project has stepped into intensive phase for technical detailed engineering, according to the Nabucco Gas Pipeline International official website.
13 May 2009 [16:02]

Head of Azerbaijani Entrepreneurs Confederation resigns

President of the Azerbaijani National Confederation of Entrepreneurs Alakpar Mammadov resigned, Confederation's report said.
13 May 2009 [15:20]

Azerbaijan hopes to complete reconstruction of Baku-Russia, Baku-Iran and Baku-Georgia highways till 2011

Azerbaijan Republic Ministry of Transport is ready to finish reconstruction of the main international highways.
13 May 2009 [13:55]

Air communication established between Baku and Batumi

Air communication was established between Batumi and Baku. Head of the government of the Ajara Autonomous Republic Levan Varshalomidze and Azerbaijan Airlines (AZAL) Director General discussed this issue at the meeting, the Ajara government told Trend Capital.
13 May 2009 [13:45]

Azerbaijan estimated to have highest GDP in Caucasus, Central Asia: IMF

The International Monetary Fund (IMF) forecasts the highest GDP rate in Azerbaijan at 12.3 percent in Caucasus and Central Asia in 2010, the IMF's official Web site reported.
13 May 2009 [13:43]

State supervision service over consumer market reveals sale of false cement in Shirvan

The State Supervision Service on consumer market at the Azerbaijani Economic Development Ministry revealed facts of sale of false cement in Shirvan city, the ministry reported.
13 May 2009 [12:49]

IMF forecasts less state debt to GDP in Azerbaijan in 2009

The International Monetary Fund (IMF) forecasts Azerbaijan's state debt of GDP at 11.8 percent, the IMF May regional economic review said.
13 May 2009 [11:37]

Greece to refine Azeri Light oil

The Greek Oil Company (GOC) is interested in purchasing the Azerbaijani oil to refine it at the Greek refineries, President of the GOC John Kostopoulos said at the meeting with the State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev in Baku.
13 May 2009 [11:16]

Azerbaijan developing five new standards

The State Committee on Standardization, Metrology and Patent of Azerbaijan is planning to complete the development of five new standards before the end of the year, head of the Committee Ramiz Hasanov said.
13 May 2009 [11:11]

Azerbaijan presents electronic technology for 'single window' in checkpoints

The Azerbaijani State Customs Committee presented electronic technology to be applied to 'single window' system during inspecting goods and vehicles at checkpoints, the agency's official newspaper wrote.
13 May 2009 [10:19]

Azerbaijani, Slovak Justice Ministries ink cooperation memo

The Azerbaijani and Slovak Justice Ministries signed a cooperation memorandum in Baku on May 12.
12 May 2009 [17:54]

Azerbaijan Republic Ministry of Industry and Energy: Azerbaijan has the right to increase gas price for Turkey

Azerbaijan and Turkey keep negotiating on possible growth of prices for exported Azerbaijani gas.
12 May 2009 [13:47]

Azerbaijan plays important role in European energy security: Romanian ambassador

Azerbaijan plays an important role in ensuring European energy security, Romanian ambassador to Azerbaijan Nikolae Ureke said.
12 May 2009 [12:42]

Facilities within Phase 5 of Sangachal terminal expansion in Azerbaijan to be commissioned in summer

Terminal Expansion Programme (STEP) is being realized in Azerbaijan at full stretch.
12 May 2009 [12:08]

Nakhchivan AR's foreign trade operations hits $27mln

In January-March 2009, the Nakhchivan Autonomous Republic (NAR) of Azerbaijan carried out foreign trade operations at $27.2 million, NAR permanent representative office in Baku said.
12 May 2009 [10:04]

Railway communication between Georgia and Azerbaijan renewed

The railway connection between Georgia and Azerbaijan, which was suspended on Sunday due to an accident on the territory of Azerbaijan, has been restored and is in normal mode, sources in Georgian Railways told Interfax.
09 May 2009 [12:59]

Azerbaijan is key gas supplier to Nabucco: interview with head of Hungarian MOL

Interview Trend Capital with Chairman and Chief Executive Officer of MOL, which is one of the shareholders of Nabucco project, Zsolt Hernadi.
09 May 2009 [12:58]

Azerbaijan State Railway Office to transport 25 million tons of cargo in 2009

Azerbaijan State Railway Office (ASRO) plans to transport 25 million tons of cargo in 2009 compared to 27.4 million tons in 2008, ASRO chief engineer Gurban Nazirov said.
09 May 2009 [08:50]

Turkey attaching great importance to gas transit to Europe: President Gul

urkey attaches great importance to the construction of pipelines to transport gas from the Caspian basin and the Middle East to Europe via its territory, Turkish President Abdullah Gul said at a summit on the "Southern Corridor" in Prague, special correspondent of Trend Capital reported.
08 May 2009 [17:23]

Azerbaijan's economic development ministry rejects news about possible rise in bread prices

Canceling exemption of wheat import from the value added tax that took place in 2007 with a prolongation of a year, will not lead to rise in oil prices, the Economic Development Ministry said.
08 May 2009 [16:33]

ACG contractors’ plan is to hand over a minimum of 1.45 billion cubic metres of associated gas to SOCAR in 2009

Azerbaijan International Operating Company (AIOC), consortium operated by BP, plans on reducing associated gas volumes extracted at Azeri-Chirag-Gunashli (ACG) in Azerbaijan’s sector of the Caspian that are to be handed over to State Oil Company of Azerbaijan Republic (SOCAR).
08 May 2009 [15:13]

New giant oil-producing project to be likely launched in Azerbaijan in 2009

After finishing designing, Chirag oil project (COP) which envisages increasing oil production in the Azeri-Chirag-Guneshli (ACG) field may be launched in late 2009, BP (operator of the ACG) said on May 8.
08 May 2009 [14:53]

Azerbaijan-Greece Business Forum to be held in Azerbaijan on May 12

Within official visit of Greek Deputy Foreign Minister Miltiadis Varvitsiotis, Azerbaijan-Greece Business Forum is expected to be held in Baku.
08 May 2009 [09:14]

Azerbaijan’s key oil producer obtained 738,000 bpd of oil production

Azerbaijan International Operating Company (AIOC), a consortium led by BP Azerbaijan, has obtained growth of indicator on daily oil production fro contract offshore oilfield block Azeri-Chirag-Gunashli (ACG) in Azerbaijani sector of the Caspian Sea.
08 May 2009 [08:58]

President of Azerbaijan says Azerbaijani government would render every assistance to Dutch companies wishing to start a business in the country

Azerbaijan President Ilham Aliyev has today met Dutch Prime Minister Jan Peter Balkenende.
07 May 2009 [16:36]

Azerbaijan can fully provide its need in food grain via local production in 2009: minister

At present Azerbaijan provides population's need in food grain via local production by 95 percent, Azerbaijani Agriculture Minister Ismat Abbasov said on May 7.
07 May 2009 [16:24]

Sale of municipal land in Azerbaijan via auctions provides transparency: head of state committee

Privileges will be granted to owners of illegal buildings during auctions and competitions to support lands of municipalities in Azerbaijan, Head of the Azerbaijani State Committee for Land and Cartography Garib Mammadov said on May 7.
07 May 2009 [15:50]

SOCAR to up asphalt production to 1mln sq.m

Annual demand of the State Oil Company of Azerbaijan Republic (SOCAR) in asphalt is around one million square meters, the company said.
07 May 2009 [14:36]

Azerbaijan to end institutionalization of stock market by late 2009: state committee's head

The Azerbaijan State Committee on Securities analyzed the country's securities market and revealed key directions on reforms and further actions, Chairman of the Azerbaijan State Committee on Securities (SCS) Rufat Aslanli said.
07 May 2009 [14:32]

Mexico does not turn to Azerbaijan for explanation: minister

No official appeal has been made to the Azerbaijani Agricultural Ministry from Mexico on explanation grounds for limits on pork import from this country, Agriculture Minister Ismat Abasov said.
07 May 2009 [12:46]

Baku subway to buy new carriages

The security rules in the Baku subway have always been observed seriously. It will be so in future too”, chief of the Baku subway office Tagi Ahmadov told journalists, APA reports.
07 May 2009 [09:59]

Azerbaijani central bank not plans to change banknotes

The Azerbaijani Central Bank does not plan to issue new banknotes due to change of its name despite its old name - Azerbaycan Milli Banki (National Bank of Azerbaijan) was indicated at banknotes, the Central Bank's board chairman Elman Rustamov said on May 6.
07 May 2009 [09:26]

Baku-Kars-Baku flight to be resumed

The Baku-Kars-Baku flight which was suspended in December due to a winter season will be resumed on May 25, the Turkish Cihan news agency reported, citing the statement by Azerbaijan's Consul-General in Kars (Turkey) Hasan Sultanoglu.
06 May 2009 [14:48]

Mexico demands explanation from Azerbaijan

Sources in Mexico state that they wrote a letter to the World Trade Organization (WTO) demanding an explanation from the countries that have imposed restrictions on Mexican imports of pork because of flu (now known as H1N1).
06 May 2009 [12:35]

Azneft puts into operation new oil well at Neft Dashlary

Azneft (the structure of SOCAR oil and gas) has launched a new well at Neft Dashlary, Interfax-Azerbaijan, with reference to the website of SOCAR.
06 May 2009 [11:45]

Azerbaijan ready to deliver oil to Odessa-Brody pipeline: Ukrainian president

Ukrainian President Viktor Yushchenko held a meeting on practical implementation of the Euro-Asian Oil Transport Corridor (EAOTC) on the base of Odessa-Brody pipeline, the Ukrainian President's official Website said.
06 May 2009 [11:25]

Azerbaijan, Turkey not agree on gas deal

Saltuk Duzyol, General Director of Turkish Botas Company, said in his interview with ANS that this issue would be agreet in near future satisfying interests of both parties.
05 May 2009 [17:27]

TRACECA legal affairs workgroup has made recommendations for intergovernmental commission

Realization of the decisions taken at the 4 December TRACECA anniversary conference held in Baku on renewal of Organisation’s institutes is underway.
05 May 2009 [15:31]

Belarus, Azerbaijan need to enhance cooperation: president

Belarus and Azerbaijan need to enhance cooperation, BELTA news agency quoted Belarus President Alexander Lukashenko as saying at a meeting with Azerbaijani First Deputy Prime Minister Yagub Eyyubov.
05 May 2009 [15:25]

Azerbaijani Finance Ministry discusses prospects of further cooperation with ADB, WB

Azerbaijani delegation headed by Finance Minister Samir Sharifov is attending the 42nd meeting of managers of the Asian Development Bank (ADB) in Denpasar, Indonesia.
05 May 2009 [12:14]

Azerbaijan to pass Associated Gas Recovery Plan till end of 2009

Conference “Emission to the atmosphere and management of gases causing warming related to the global climate change in Azerbaijan” is taking placed in Baku today.
05 May 2009 [10:34]

Azerbaijani scientists discussed bio-fuel problems in Moscow

Scientists of the National Academy of Sciences of Azerbaijan (AMEA) have taken part in 4th international congress “Fuel Bioethanol - 2009, devoted to problems of production of bioethanol from non-product raw material in Moscow.
05 May 2009 [10:28]

SOCAR reduced associated gas emission by 140,000 cu m a day

State Oil Company of Azerbaijan (SOCAR) is ongoing the process of reduction of associated gas flaring.
05 May 2009 [09:42]

This April price of Azerbaijani oil products grew by $32.3-47.5/ton

Department of Marketing & Economic Operations (State Oil Company of Azerbaijan; SOCAR) has reported of price growth on all petroleum products exported in April 2009.
05 May 2009 [09:11]

100th tanker sails away from Kulevi Terminal

100th tanker has sailed away from SOCAR-owned Kulevi Terminal in Georgia.
05 May 2009 [09:09]

Turkish delegation due to visit Azerbaijan amid gas price allegations

News on rising gas prices to Turkey which caused considerable agitation in the country has not been confirmed yet.
04 May 2009 [17:16]

Azerbaijan Entrepreneurship Support Fund signed co-operation memos with Ukraine and Kazakhstan

The National Entrepreneurship Support Fund under the Ministry of Economic Development (MED) of Azerbaijan is expanding international partnership.
04 May 2009 [15:29]

Global warming causes melting of glaciers in northern region of Azerbaijan

Global warming caused melting of glaciers in the northern region of the country. Specialists consider that about 50 percent of the glaciers melted in Guba within a century.
04 May 2009 [15:18]

On May 29, Azerbaijan to sign a loan agreement with Japan on $260 million water project

The Japanese Financial Corporation (since 1 October 2008 it has included the Japanese International Co-operation Agency (JICA) and the Japanese Bank for International Co-operation (JBIC)) has discussed with Azerbaijan a draft loan agreement on a watersupply project.
04 May 2009 [12:59]

SOCAR ups oil pumping via Baku-Novorossiysk pipeline

In January-April, the State Oil Company of Azerbaijan Republic (SOCAR) exported roughly 834,000 tons of oil via Baku-Novorossiysk pipeline compared to over 408,000 tons in the same period in 2008, SOCAR said.
04 May 2009 [12:30]

Delhi-London aircraft makes emergency landing in Azerbaijan

A Boeing-777-300 ER passenger jet en route from Delhi to London made an emergency landing at Heydar Aliyev International Airport in Baku, said Maharram Safarli, Press Secretary of Azerbaijan Airlines (AzAL).
04 May 2009 [12:26]

Azerbaijani, Turkish, Georgian transport ministers to meet in Istanbul

Azerbaijani, Turkish and Georgian transport ministers will meet in Istanbul on May 9 as a part of the construction of the Baku-Tbilisi-Kars railway, Azerbaijani Transport Ministry said.
04 May 2009 [11:14]

Negotiations between heads of BBVB and Istanbul Stock Exchange held in Baku

Representatives of Istanbul Stock Exchange (ISE) in the person of ISE chairman Huseyn Erkan and securities market director Morat Bolat, and general director of Turkish Derivatives Exchange (TurkDEX) Chetin Ali Domnez visited the Baku Interbank Currency Exchange (BBVB).
04 May 2009 [10:48]

Baku-Antalya flight to be launched

Azerbaijan Airlines (AzAL) will operate a direct flight between Baku and Antalya from mid-June.
04 May 2009 [09:00]

Gas agreement between Russia, Azerbaijan not calls Nabucco into question: ambassador Gas agreement between Russia, Azerbaijan not calls Nabucco into question: ambassador

The gas agreement between Russia and Azerbaijan does not call implementation of the Nabucco gas pipeline project into question, Turkish Ambassador to Azerbaijan Hulusi Kilic said on May 2.
02 May 2009 [11:24]

Gas consumption reduces in Baku: Bakgaz

PU Bakgaz (distribution and sale of gas in Baku) supplies Baku's gas system with daily gas supply amounting 6.7 million cubic meters compared to 8 million cubic meters of average daily gas supply in March, A source close to supplies in PU said on May 1.
02 May 2009 [11:14]

OPEC forecasts increase in Azerbaijani oil shipment

OPEC forecasts that the Azerbaijani oil shipment will be increased by 70,000 barrels and reach 980,000 barrel daily in 2009.