New appointment to the management of the Petkim

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More from Economy

In August SOCAR reduces total oil production by 2.6% and own production by 3%

19.10.2009 14:12 GMT

In September, 2009, the State Oil Company of Azerbaijan (SOCAR) reduced total oil production by 2.6% as compared to August, 2009, with increase of its own production by 3% by the SOCAR oil and gas divisions (NGDUs).

In January to September 2009 Azerbaijan imports 47,879 cars in amount of $339.7 million with import decline of 41.8%

19.10.2009 13:33 GMT

In January to September 2009 Azerbaijan imported 47,879 automobiles to the sum of $339.707 million with average cost of a car at $7,095.

Natural gas charge level makes up 67.2%, increases by 1.1% in Azerbaijan

19.10.2009 13:30 GMT

Transfer of Azerbaijani state gas monopoly (former Azerigaz CJSC) to the State Oil Company of Azerbaijan (SOCAR), for the time being, resulted in some increase of charge for gas consumed by the population.

Retirement age will increase in Azerbaijan

18.10.2009 14:40 GMT

The Azerbaijani Parliamentary Committee for Social Policy recommended to discuss the bill on amendments into the law On Labor Pension at the plenary meeting on Saturday.

Azerbaijan’s strategic currency reserves up $1 billion in January-September

17.10.2009 16:52 GMT

Azerbaijan’s strategic currency reserves grew by $1 billion during January-September to $19.1 billion, said the country’s minister of economic development.

Azerbaijan pumps over 4 billion cubic metres of gas through South Caucasus pipeline

17.10.2009 16:00 GMT

4.267 bln. cu. m. of gas was exported via South Caucasus Pipeline.

Ilham Aliyev: Azerbaijan is one of the countries least affected by the world crisis

17.10.2009 15:39 GMT

The Azerbaijani president spoke about the economy at a meeting of the Cabinet of Ministers on Friday, News.Az reports. He highlighted a 6.1% growth in GDP to the end of the third quarter and a record grain harvest of 3 million tonnes.

SOCAR increases in succession gas export

17.10.2009 14:00 GMT

SOCAR increased volumes of gas export from the country by 16.84%as compared to August.

Crisis did not have impact on Azel’s turnover

17.10.2009 13:50 GMT

Azerbaijani company Azel (Azerbaycan Elektronikasi) has raised lately new clients in both corporate and private sectors.

Azar Aliyev heads board of directors of Association of Insurance Companies of Azerbaijan

16.10.2009 20:13 GMT

A regular general session of members of the Association of Insurance Companies of Azerbaijan (ASA) took place today.

Azerbaijani Railways raise $ 215 million from Czech Export-Import Bank

16.10.2009 19:39 GMT

Azerbaijani Railways (ADY) prepares for attracting next foreign loan.

AzSigorta gets new CEO

16.10.2009 19:05 GMT

A staff reshuffle has taken place at Azerbaijani insurance company AzSigorta following a general meeting of shareholders.

Consumer protection service dishes out fines of over $1 million since May

16.10.2009 18:45 GMT

Azerbaijan's State Service for Supervision of the Consumer Market has reported on its work since tough new sanctions came into force on 17 May 2009.

IBA-Moscow ready to cut loan rate

16.10.2009 18:07 GMT

IBA-Moscow LLC, the International Bank of Azerbaijan's subsidiary in Russia, has said that is ready to cut loan rates from 2010.

Azerbaijan's Central Bank gets tough on credit unions

16.10.2009 18:05 GMT

The Central Bank of Azerbaijan has withdrawn banking licences from four domestic credit unions.

Azerbaijan to reduce state investments by 24.8% in 2010

16.10.2009 16:42 GMT

The Bill on Azerbaijan State Budget 2010 introduced into country’s parliament (Milli Majlis) has been published.

Private sector to take on certification function in Azerbaijan

16.10.2009 14:09 GMT

Ramiz Hasanov, chairman of Azerbaijan's State Committee for Standardization, Metrology and Patents, has said that certification functions are gradually being transferred to the private sector.

Azerbaijan exports 5,000 ounces of gold expecting export of 40,000 ounces till end of year

15.10.2009 21:14 GMT

Azerbaijan continues increasing volumes of gold export.

State Oil Fund of Azerbaijan supports governmental prognosis of oil prices

15.10.2009 20:47 GMT

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) supports conservative approach to forecasting of export oil price upon drawing up budget of the country for 2010.

Azeri Central Bank again urged to join CIS Intergovernmental Bank

15.10.2009 20:29 GMT

The second International Banking Conference of the Commonwealth of Independent States (CIS) has finished in Baku with a resolution calling on Azerbaijan's Central Bank to join the Intergovernmental Bank.

Azerbaijan and Cuba prepare signing of 10 papers on cooperation in various fields

15.10.2009 18:51 GMT

Azerbaijan and Cuba started active expansion of mutual cooperation, having multilateral direction.

Extractive companies in Azerbaijan ready to sign a coordinated document

15.10.2009 18:28 GMT

Azerbaijan expects soon signing of a coordinating document on EITI (Extractive Industries Transparency Initiative).

Fitch rates Azeri State Oil Company BB+ with outlook Stable

15.10.2009 16:49 GMT

Fitch Ratings on Wednesday awarded SOCAR (the State Oil Company of Azerbaijan)a long-term Issuer Default Rating of BB+ and a short-term Issuer Default Rating of B. The outlook for the long-term Issuer Default Rating is Stable, Fitch Ratings said.

Azerbaijan's anti-crisis "safety cushion" to exceed $20 bn by end of 2009

15.10.2009 16:19 GMT

The Central Bank of Azerbaijan has said that the country has adequate reserves to protect it against the financial crisis.

BP promises to increase Shah Deniz gas production, dropped to 17 million cu m, up to 22 million cu m

15.10.2009 16:01 GMT

Daily gas production at Shah Deniz field (Azerbaijan sector of the Caspian Sea) being developed by the partnership headed by BP declined much because of stoppage of producing well #3.

Agreement on Azeri gas supplies to Russia can cover Shah Deniz gas as well

15.10.2009 14:55 GMT

The State Oil Company of Azerbaijan (SOCAR) does not rule out that the agreement on Azeri gas export to Russia in 2010-15 signed in Baku yesterday between SOCAR’s president Rovnag Abdullayev and Gaszprom’s chairman of board Alexey Miller can also spread on the gas produced by country’s other gas operators.

SOCAR and Gazprom signed an agreement on Azeri gas supplies to Russia for 2010-15

15.10.2009 14:47 GMT

State Oil Company of Azerbaijan’s president Rovnag Abdullayev and Russian gas monopoly Gaszprom’s chairman of board Alexey Miller signed an agreement on Azeri gas export to Russia in period of 2010-15.

Tourism complex Shahdagh in Azerbaijan to be repaid in 7-10 years

15.10.2009 14:32 GMT

Abulfaz Garayev, Azerbaijan’s culture & tourism minister, says that investments in this project mean development of the whole region as 5,000 jobs will be created only for service of the future tourism town.

Azeri banks raise $600 million abroad in first three quarters of 2009

15.10.2009 14:14 GMT

The Central Bank of Azerbaijan has reported an increasingly positive trend in raising external finance on the part of the country’s commercial banks.

“Shusha” tanker is ready to sail - PHOTOS

15.10.2009 02:00 GMT

Ilham Aliyev at the commissioning ceremony for the “Shusha” tanker at the Baku Yacht Club.

EBRD lends €120 million to cement producer in Azerbaijan

14.10.2009 17:15 GMT

The EBRD is promoting further diversification of the Azeri economy through the largest foreign direct investment in Azerbaijan outside the oil and gas sector to date.

International Banking Conference starts in Azerbaijan

14.10.2009 16:49 GMT

Baku is hosting the 2nd International Banking Conference on "Improving the Stability of Financial and Banking Systems in the CIS Member States”.

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