Socar estimates proven hydrocarbon reserves at 4.5 billion tons

Socar estimates proven hydrocarbon reserves at 4.5 billion tons Azerbaijan`s proven hydrocarbon reserves are estimated at 4.5 billion tons of equivalent fuel, head of the state oil company Socar, Rovnag Abdullayev, said in Baku on Tuesday. Addressing a forum on the construction of a huge complex for oil and gas refining and petrochemical production in Azerbaijan, Abdullayev said the country`s projected hydrocarbon reserves are estimated at 10 billion tons of equivalent fuel, according... Read More

Azerbaijan drafts new law to solve property disputes

Azerbaijan drafts new law to solve property disputes Azerbaijani parliament will adopt a law on evaluation policy. The draft law was sent to the parliament’s committee on economic policy. The new law will regulate the issues related to fixing prices of movable and immovable properties. It will also assist to solve the disputes over purchasing of land plots from population for the state needs.    Read More