Business
08 July 2005 [08:57]
In January to June 2005 the Azerbaijan International Operating Company (AIOC), which is involved in the development of Azeri-Chirag-Gunashli offshore fields (ACG), has produced 5,048 million tons of oil of Azeri Light brand, or 1,84 million more than 2004.
08 July 2005 [08:51]
The 'Gaseksport' Ltd. (the branch enterprise of the 'Gasprom' Ltd.) resumed gas delivery to Azerbaijan after accident in the pipeline 'Shirvanovka-GaziMammad' passing through the territory of Dagestan on Thursday.
07 July 2005 [08:13]
On Wednesday at 02.00 a.m. Gazexport Llc., a daughter company of Gazprom Joint-Stock Company (JSC), suspended gas delivery to Azerbaijan due to breakdown on the section of the Mozdok-Gazimahommad gas pipeline running via the territory of Dagestan, Russia.
07 July 2005 [08:01]
The state-run petroleum machinery company Azneftkimyamas has launched a project on the receipt of international standards for some products manufactured at four divisions of the company.
06 July 2005 [09:40]
The production of a total of 81.55 million tons of crude oil has been expected in Azerbaijan within three years, 2005 through 2007, according to the Government’s socioeconomic development concept and forecasts of major macroeconomic activities for 2004-2007.
06 July 2005 [09:35]
Azerbaijan’s Chamber of Commerce and Industry will sign a memorandum of cooperation with the Union of Italian Chambers of Commerce & Industry and Agriculture (UICCIA).
06 July 2005 [09:31]
Kazakhstan has no information on the Iran’s position’s changes on the Caspian Sea status after the presidential elections in the country, the advisor of the Kazakhstan Ambassador to Azerbaijan, Bagdat Seybattalov told Trend.
06 July 2005 [09:04]
A delegation consisting of the officials and businessmen of Kazakhstan being on a visit in Azerbaijan on June 30-July 2 held several meetings.
06 July 2005 [09:01]
The Gobustan Operating Company (GOC) has faced a series of complications during the drilling of an assessment well at the onshore Kanizdagh field. So far the drilling has reached a depth of 3,006 meters against the target of 3,800 meters.
05 July 2005 [09:58]
The National Bank of Azerbaijan (NBA) took a decision on double increase of requirements to the minimal statutory capital of new banks.
05 July 2005 [09:56]
The rise in prices of construction materials, equipments and transportation expenses cased the rise in price of “Shahdeniz” project.
05 July 2005 [09:50]
The currency reserves of Azerbaijan increased 12,73 % during the six month of this year and formed 988.46 million USA dollars.
05 July 2005 [09:47]
The Azerbaijani government expects in 2005 the sustainable growth of the GDP indicator. By the results of the current year the indicator per capita may be $1 275, Trend was told at the Cabinet of Ministers.
05 July 2005 [09:21]
A new service - the Domestic Control Sector – has been established at the Azerbaijani Ministry of Economic Development at the relevant decree by Farhad Aliyev, the Minister for Economic Development.
05 July 2005 [08:42]
?zerbaijan completes preparation of agreement on joint oil transportation through the Baku-Tbilisi-Ceyhan (BTC) pipeline with Kazakhstan, the first vice-premier of the Azerbaijani government, Abbas Abbasov stated on the results of talks with the leaders of Ukraine in Kiyev, Trend reports.
02 July 2005 [10:01]
The committee of directors of the European Bank for Reconstruction and Development (EBRD) has approved 110 million U.S. dollars in loans to co-finance part of LUKoil’s participating interest in the Shah Daniz gas project.
02 July 2005 [09:59]
The third sitting of the Working Group on Azerbaijan’s being member of the Worldwide Trade Organization was held the day before yesterday.
02 July 2005 [09:04]
On Friday the National Bank of Azerbaijan held a seminar on mortgage.
01 July 2005 [10:06]
The mission led by specialists of fund on operating monetary and financial systems of International Monetary Fund (IMF) Joddi Skarlaton is on a visit to Baku.
01 July 2005 [09:54]
The Ministry of Economic Development (MED) plans in 2005 the GDP at the level not lower 18%, deputy Minister MED, Mikail Djabbarov stated on 29 June, Trend reports.
01 July 2005 [09:25]
In 2005 premium of Azerbaijani insurance companies might reach $100m against $67m fixed in $67m in 2004, Khayal Mammadkhanly, the head of the financial sector of the Association of Turkish Industrials and Businessmen (ATIB), President of the Union of Azerbaijani Insurers, said in a presentation of the insurance market of the country held at the ATIB.
01 July 2005 [08:54]
The Union of Turkish businessmen and manufacturers (TUSIAB) complained about the existence of a series of impediments that hamper the progress of their business in Azerbaijan.
30 June 2005 [09:20]
The Board of Directors of the European Bank for Reconstruction and Development (EBRD) approved $100m under the project on financing the upgrade and reconstruction of road section from Sumgayit to Zarat settlement of the highway from Baku to Azerbaijani border with Russia, the EBRD will allocate credit for 15 years with 3-year grace period under LIBOR+1% rate.
30 June 2005 [09:18]
The 30th annual sitting of Islamic Development Bank took place in Putrajaya city of Malaysia. Azerbaijani delegation was led by head of Ministry of Economic Development Body Samir Valiyev.
30 June 2005 [08:36]
Azerbaijan has a total of 3.7 billion tons of commercially viable crude oil reserves, with up 1.7 billion tons classified as recoverable stock, says a press statement by the Earth Sciences Sector of the National Academy of Sciences of the Azerbaijan Republic (NASAR).
29 June 2005 [09:21]
20% growth in Gross Domestic Product is predicted to be this year, 38% in 2006.The growth is expected to be 6 times higher in 2024 than it is today.
29 June 2005 [09:16]
A conference of the foreign affairs ministers of the countries being the members of the Islamic Conference Organization started its work in the capital of Yemen, Sanaa.
29 June 2005 [08:58]
A delegation consisting of 22 persons from the companies working in medical field, medicine production and sale sector of the Islamic Republic of Pakistan will arrive on a business visit in Azerbaijan on June 11.
29 June 2005 [08:01]
The Azerbaijani Ministry for Industry and Energy does not rule out bp, a British oil giant, to take interests in the development of a new field Iki Gardash Dashi.
29 June 2005 [07:54]
The signing of several intergovernmental agreements is on the agenda for the upcoming two-day visit to Azerbaijan by Turkish Prime Minister Recep Tayyip Erdogan.
28 June 2005 [09:40]
No hydrocarbon reserves were found out in “Yalama” deposit located in Azerbaijan sector of the Caspian Sea during the first drilling process by “Lukoil” company.
28 June 2005 [09:21]
The European Bank for Reconstruction and Development (EBRD) is about to complete a process of adoption of a project on financing the upgrade and reconstruction of 60 km section of the road from Sumgayit to Zarat settlement in the border from Azerbaijan to Russia, a government source told Trend.
28 June 2005 [08:58]
“A Georgian delegation headed by Prime Minister Zurab Nogaideli will pay a working visit to Azerbaijan 16 July,” Zurab Gumberidze, the Georgian Ambassador to Azerbaijan, told Trend in an excusive interview.
28 June 2005 [08:51]
“KfW” Development Bank of Germany allocated means for developing the project of development of retail service in banking systems of Georgia and Azerbaijan by the end of next year.
25 June 2005 [08:49]
The Georgian state company Saknavtobtransi (former Gruzneftetrans) has send the State oil company of Azerbaijan (SOCAR) a notification of the Georgian government’s decision to introduce European standards for automotive fuel sales beginning from January 1, 2006.
25 June 2005 [08:41]
Gobustan Operating Company (GOC) will construct a gas compression station (GCS) in the Southwest Gobustan onshore bloc at the expense of credit funds at the expense of a loan provided by Arawak Energy Corporation for Commonwealth Gobustan Limited (CGL).
24 June 2005 [08:51]
Cairo will host a meeting of the Egyptian-Azerbaijani commission on economic cooperation on 25-29 July, Trend reports quoting Yusif Ahmet al-Sharkavi, the Egyptian.
24 June 2005 [08:43]
The French Total company studies the possible construction site for the oil terminal on the Azerbaijani coast of the Caspian Sea, deputy Transport Minister of Azerbaijan, Musa Panakhov told Trend.
23 June 2005 [09:35]
The Russian LUKOIL preserved the first exploration well on the perspective structure “Yalama” (block D-222) in the Azerbaijani sector of the Caspian Sea, the State Oil company, which is the project participant with 20% share told Trend.
23 June 2005 [09:13]
According to a report by British-American company BP, in 2004 the estimated oil reserves in Azerbaijan comprised 1 billion tons, or 7 billion barrels, or 0.6% of the world estimated oil reserves.
23 June 2005 [09:11]
The former Communication Ministry left about $50 million debt for the new Ministry of Communication and Information Technologies(MCIT).
23 June 2005 [08:42]
Azerbaijan is about to enter a very important stage of multilateral talks with the World Trade Organization (WTO), to discuss the future state of the agricultural sector and hold separate consultations over proposals by the Azerbaijani side on relevant tariffs.
23 June 2005 [08:28]
Yesterday in “Hyatt Regency” hotel business forum launched organized by Economic Development Ministry, Foreign Development Agencies of Companies of France (UBIFRANCE) and economic department of this country‘s embassy to Baku.
22 June 2005 [08:58]
The Pakistani National Bank opens its representative office in Baku.
22 June 2005 [08:53]
The main drilling modules for the East Azeri (EA) production, drilling and quarters (PDQ) platform have already arrived in Baku from the Netherlands where they were built by Mercon Steel Structures, AIOC’s drilling modules construction contractor, the Azerbaijan International Operating Company (AIOC) announced.
22 June 2005 [08:51]
Azerbaijan-France Business Forum wil be opened in “Hyatt Regency” hotel tomorrow.
22 June 2005 [08:44]
Export of goods and services from Ukraine to the CIS countries formed $ 3 milliard 78 million 290,17 thousand, import $ 5 milliard 193 million 330,07 thousand in past months of 2005.
22 June 2005 [08:42]
The Czech Export Bank has approved $180m credit for Azerbaijan under the reconstruction of the automobile routes.
22 June 2005 [08:29]
Industry product and services at the cost of 15,5 trillion manats has been produced in the country by 1 June of the current year.
21 June 2005 [09:49]
The Pakistani national bank will open its Baku office soon.
21 June 2005 [09:35]
SOCAR expects shortly signing of the agreement with ExxonMobil on payment of the compensation from the American company for refusal to drill the second exploration well on the Nakhchivan prospective structure, the SOCAR head, Natik Aliyev told journalists on 20 June 2005.
21 June 2005 [09:31]
The Russian LUKOIL will submit the SOCAR proposals on drilling of the second exploration well on the “Yalama” structure (block D-222) in September-October 2005.
21 June 2005 [08:42]
The draft law on resisting the dirty money laundry is ready and awaiting for discussion, Rufat Aslanly, the head of the interdepartmental working group on resisting dirty money laundry and financing terror.
19 June 2005 [08:59]
The “KCA DEUTAG” company signed a 3-year treaty with “bp” on letting down a pipeline under pressure into a well in the “Shahdaniz” gas deposit.
19 June 2005 [08:33]
Investments, to be carried in the framework of construction of the Georgian leg of the Baku-Ceyhan oil and South Caspian gas pipelines, will total $1 billion.
18 June 2005 [09:14]
The State oil company of Azerbaijan (SOCAR) has to pay off the remaining 900 billion manats (189 million U.S. dollars) in its tax debts, including fine increments.
18 June 2005 [09:12]
Azerbaijan is one of the leading countries for its speed of growth of tourism stream.
18 June 2005 [08:51]
The German bank KFW plans to allocate 10m euro for the reconstruction of the sewerage and water supply network of Ganja and Shaki.
17 June 2005 [09:56]
“State Oil Fund (SOF) will allocate 202 billion manats for improving social welfare of refugees and internally displaced persons”.
17 June 2005 [09:54]
The ways for strengthening relations between Azerbaijan and Georgia, successfully advancing in the direction of the strategic partnership, were discussed on 16 June at the meeting of the Azerbaijani and Georgian Presidents, Ilham Aliyev and Michail Saakashvili in Kiyev.
17 June 2005 [09:52]
Milli Majlis (parliament) is about to consider on June 17 the revised version of the state budget – at stake is a rise in revenues by 800 billion manats (roughly 168 million U.S. dollars).
17 June 2005 [09:10]
The Government of Azerbaijan has rejected a $19-million IMF tranche in the framework of the Poverty Reduction and Growth Facility (PRGF), citing an expediency to support poorer countries.
17 June 2005 [09:03]
Finland-Azerbaijan forum will be held in Baku in September of this year.
17 June 2005 [08:57]
France-Azerbaijan business forum is organized in Baku for the first time by Ubifrance (Agency of Development of French Companies Abroad) and Department of Economy of French Embassy in Azerbaijan in-cooperation with Ministry of Economic Development of Azerbaijan Republic on June 22-24.
15 June 2005 [08:51]
The economic growth in Azerbaijan will reach 18% in 2005 – the highest figure in CIS, Azerbaijani President Ilham Aliyev stated in his address to the St-Petersburg International Economic Forum which opened on Tuesday.
15 June 2005 [08:31]
The International Monetary Fund (IMF) does not share the threats of some local experts on de-liberalization of the market in connection with the cut in tax-free import goods, Basil Zavoico, the head o the Baku office of the IMF, told Trend.
15 June 2005 [08:29]
An important meeting will be held in connection with accepting Azerbaijan into the membership of the Worldwide Trade Organization (WTO) on June 30.
14 June 2005 [09:55]
During the III quarter of the current year money transfer systems «Western Union» and «Travelex» are planned to be introduced in the post network of the state company “Azerpochta”, the legal matters being already settled.
14 June 2005 [09:50]
In January-May of the current year OGPUs being on the balance of the Azneft Production Union, produced totally 3 247 169 tons of oil, against the same period of the last year the production was 99,3%, but under the plan the excess production was 46,369 tons, Trend was told at SOCAR.
14 June 2005 [09:28]
“President gave an order to return part of foreign state debts of Azerbaijan from the state budget of the next year”.
14 June 2005 [09:26]
Indian companies ONGC Videsh (OVL) and GAIL plan to sign memorandum on understanding for joint development of the oil and gas fields of Azerbaijan with the State Oil Company of Azerbaijan (SOCAR).
14 June 2005 [09:09]
The Directors Council (DC) of the World Bank (WB) accepted an order to allocate $ 8 million of credit for Azerbaijan.
11 June 2005 [08:55]
Minister of Communication and Information Technologies of Azerbaijan Ali Abbasov proposes to establish strong department attached to Justice Ministry in order to solve the economical relations of Azerbaijan with other states and protecting the right of out country.
11 June 2005 [08:54]
The Azerbaijan International Operating Company (AIOC), operated by bp, put into exploitation the fifth well on the platform installed in the Central Azeri field. It will enable to increase production and export of Azeri Light oil to world markets.
11 June 2005 [08:49]
Salyan Oil Limited (SOL) treated the oil-polluted area in accordance with the world standards, SOL told Trend.
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