Fitch Cut Azerbaijan’s Rating

Fitch Cut Azerbaijan’s Rating Azerbaijan’s sovereign-credit grade outlook was cut by Fitch Ratings because the Caspian Sea nation raised spending as oil output declined. Fitch lowered its outlook to stable from positive, reaffirming its BBB- rating, the lowest investment grade and on a par with Iceland, Latvia and Croatia. Moody’s Investors Service and Standard & Poor’s have both assigned Azerbaijan their minimum investment ratings. “The general government increased... Read More

ENPI East: report on activities 2011 and roadmap to 2013 released

ENPI East: report on activities 2011 and roadmap to 2013 released Creating the conditions to accelerate political association and deepen economic integration between the EU and the Eastern European partner countries are among the main objectives of the Eastern Partnership (EaP), according to a set of documents released by the EU in the framework of its annual assessment of the European Neighbourhood Policy (ENP). The Report on the EaP activities in 2011 takes stock of the progress... Read More

How much Will Euro Depreciate Against Dollar?

How much Will Euro Depreciate Against Dollar? Greek Treasury will face huge amount lose, if the government is not formed in the near future. The Ministry of Finance of Greece stated that “if we do not have a government that would negotiate on the allocation of next IMF tranche, and if the state does not receive the expected monthly inflows to the budget, we face the problem of liquidity at the end of June”. We can only guess what will happen to the euro quotes, if... Read More

BTC transports over 193 million tons of oil

BTC transports over 193 million tons of oil The 2012 capital expenditures for the Baku-Tbilisi-Ceyhan (BTC) is $61,7 million. In the first half of the year, BTC spent $7,1 million in capital expenditures. BTC’s daily throughput capacity is currently 1.2 million b/d. Since the start-up, June 4, 2006 up to date, 1,870 tankers were loaded at Ceyhan with a total of about 193 million tons of crude oil transported via BTC and sent to world markets. The BTC pipeline currently carries... Read More