Business

21 May 2009 [10:01]

OSCE Office in Baku organizes seminar to promote positive business and investment climate

An OSCE-organized seminar on fostering a positive business and investment climate opened in the Nakhchivan Autonomous Republic of Azerbaijan on May 20, OSCE official website reported.
21 May 2009 [09:20]

Batumi-Baku flight to be launched from May 25

Georgian Airways will launch new Batumi-Baku flight from May 25, APA reports quoting bizzone.info website.
20 May 2009 [17:24]

Baltika company launches production in Baku

The largest Russian brewery Baltika which bought Baku-Kastel (formerly Baku brewery) plant in 2008 intends to produce five decaliters of beer in a summer season, the company's president Anton Artemyev said at the presentation of the Baltika beer in Baku.
20 May 2009 [13:02]

SOCAR Energy Georgia to increase number of gas consumers twice in Georgia

The SOCAR Energy Georgia is planning to increase the number of gas consumers twice to 57,000 in Georgia this year, head of the company Mahir Mammadov said.
20 May 2009 [11:54]

Three oil and gas contracts to be confirmed in Azerbaijani Parliament

The Azerbaijani Natural Resources, Energy and Ecology Committee has submitted three PSA oil and gas contracts to Parliament for confirmation.
20 May 2009 [10:56]

Belarusian enterprises to attend Azerbaijani int'l exhibitions

Belarusian enterprises will take part in the 15th anniversary of the Azerbaijan International Exhibition "Food Industry" and the third Azerbaijan International Exhibition "Agriculture" to be held in Baku on May 25-27, the Belarusian Embassy in Azerbaijan said.
20 May 2009 [10:39]

Agricultural production rises this year

Agricultural production in Azerbaijan in January-April 2009 increased by 5% and amounted to 436 million 318.6 thousand manat, Interfax-Azerbaijan reports with reference to the State Committee on Statistics.
19 May 2009 [17:10]

British engineering company registered in Azerbaijan

The British engineering company Aquaterra Energy Ltd was registered in Azerbaijan through the single window system, the Azerbaijani Tax Ministry said.
19 May 2009 [16:30]

New IT security standards registered in Azerbaijan

The Azerbaijani State Committee for Standardization, Metrology and Patent has registered the project of national standards of Azerbaijan. The project was designed on the basis of the second and third part of international standard on information safety ISO/IEC 15408-2008.
19 May 2009 [16:19]

Tariffs on tourist facilities to be decreased inconsiderably in Azerbaijan: Minister

Tariffs on tourist facilities will be reduced inconsiderably in Azerbaijan, Culture and Tourism Minister Abulfaz Garayev said on May 19.
19 May 2009 [16:16]

Italy may receive Caspian gas in 2012

Italy, heavily dependent on gas imports, is likely to see two major pipelines on stream in 2013, a senior energy executive said Monday, signaling a year of delay in supplies of about 16 billion cubic metres (bcm) of gas.
19 May 2009 [16:11]

SOCAR applies new resource management system

The State Oil Company of Azerbaijan Republic (SOCAR) introduces a new resource management system, Information Technology and Communication Department of SOCAR said.
19 May 2009 [13:58]

Azerbaijan-Cuba Intergovernmental Commission meets in Baku

Azerbaijan-Cuba Intergovernmental Commission for Economic Cooperation has gathered in Baku for the second meeting.
19 May 2009 [13:05]

Cuba divulges priority directions of cooperation with Azerbaijan

Cuba is interested in cooperation with Azerbaijan in tourism, energy, trade, culture and other fields, Cuban Deputy Minister on Foreign Trade and Foreign Investments Ricardo Guerrero said at the second meeting of the intergovernmental commission on economic cooperation in Baku.
19 May 2009 [12:38]

EBRD invests over 850 mln euro for 17 years

For 17 years, the European Bank for Reconstruction and Development (EBRD) has allocated 865 million euro to finance projects in Azerbaijan, said bank's annual report.
19 May 2009 [11:39]

Azerbaijan doubles gas price for Turkey

Azerbaijan will charge Turkey about $200-$250 per 1,000 cubic meters of gas, compared to $120 it charged previously, Turkey’s Haber7 reported.
19 May 2009 [09:14]

SOCAR prepares special energy strategy for work in Europe

SOCAR (the State Oil Company of Azerbaijan) prepares own special petrochemical strategy for work of the company in South-Eastern Europe, SOCAR Romanian representation head Gamza Kerimov said on May 18.
19 May 2009 [09:09]

Azerbaijan is key country in Nabucco project: EU special representative

The main country in the Nabucco pipeline project is Azerbaijan, said the EU Special Representative for South Caucasus Peter Semneby on May 18 in Baku.
19 May 2009 [08:47]

Nabucco to be filled easily: project's official

Gas quantities from Iraq will contribute substantially -among other sources - to use the pipeline as an important tool to reach European markets, Spokesperson Nabucco Gas Pipeline International in the OMV company Christian Dolezal wrote to Trend Capital via e-mail.
18 May 2009 [17:34]

Nabucco to be filled easily: project's official

Gas quantities from Iraq will contribute substantially -among other sources - to use the pipeline as an important tool to reach European markets, Spokesperson Nabucco Gas Pipeline International in the OMV company Christian Dolezal wrote to Trend Capital via e-mail.
18 May 2009 [15:53]

EU must accelerate work on Nabucco project realization: Turkish Prime Minister

The European Union must accelerate the solution of issues concerning the implementation of the Nabucco pipeline project, said the Turkish Prime Minister Rajab Tayyip Erdogan, Turkish channel CNN Turk reported.
18 May 2009 [13:45]

Cuba voices willingness to import food products from Azerbaijan

Cuba is interested in importing Azerbaijani food products, Deputy Minister for Foreign Trade and Foreign Investment of Cuba Ricardo Guerrero said on May 18.
18 May 2009 [13:36]

Azerbaijani oil pumping via Baku-Novorossiysk restored

The Azerbaijani oil transportation via the Baku-Novorossiysk pipeline has been restored.
18 May 2009 [11:59]

Azerbaijan receives over 600 mln cu metre of gas from Shah Deniz field in Jan-Apr

In January-April 2009, Azerbaijan received about 628 million cubic metre of gas from Shah Deniz field. The figure totaled 736 million cubic metre in the same period of 2008.
18 May 2009 [10:51]

Alan Vaddams: Resources of Azerbaijan are enough to launch Nabucco

Day.Az Interview with the head of the European Commission in Azerbaijan Alan Vaddams.
18 May 2009 [09:34]

Cuban minister of trade and investment visits Lenkoran

Minister of Trade and Investments of the Republic of Cuba Ricardo Guerrero visited Lenkoran during his visit to Azerbaijan.
16 May 2009 [11:28]

Russian Premier: Russia is not against alternative projects in the energy sector, including the Nabucco

Nabucco project envisions supply natural gas from the Caspian basin to Europe, bypassing Russia - through Azerbaijan, Georgia, Turkey, Bulgaria, Hungary, Romania and Austria.
15 May 2009 [16:29]

Azerbaijan and Poland sign program on further development of economic relations

The third meeting of Azerbaijan-Poland intergovernmental commission took place in Warsaw on May 13-15, as a result of which was signed a program for further development of interstate relations, said the press release by the Embassy of Azerbaijan in Poland.
15 May 2009 [14:43]

Azerbaijan may launch wheat export: minister

Canceling exemption of import wheat from VAT, imposed in 2007 with a prolongation of a year, will not lead to a rise on wheat prices, Azerbaijani Agriculture Minister Ismat Abbasov said.
15 May 2009 [12:40]

Azerbaijan, Lithuania mull giant energy projects

The Azerbaijani parliamentary delegation and Lithuanian Prime Minister Andrius Kubilius met in Vilnius on May 15.
15 May 2009 [10:50]

Azerbaijan State Railway Company to pass to summer work schedule

Azerbaijan State Railway Company is going to pass to the summer schedule, said spokesman for the Azerbaijan State Railway Company Nadir Azmamedov.
15 May 2009 [10:04]

Deputy FM: The reforms to attain greater efficiency of BSEC will continue

Our main priority is, of course, the continued reform of the Black Sea Economic Cooperation, aimed at ensuring its greater efficiency, said the Deputy Minister of Foreign Affairs of Azerbaijan Mahmud Mamedkuliev.
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.