BP seeks stake in pipeline to export Azerbaijani gas

BP seeks stake in pipeline to export Azerbaijani gas BP is interested in acquiring a significant share in the Trans Adriatic Pipeline (TAP) or Nabucco-West pipeline projects seeking to supply Azerbaijani gas to Europe, the company`s vice-president for development of Azerbaijan`s Shah Deniz gas field, Al Cook, was quoted as saying by Argus Media, a UK-based independent provider of market data and business intelligence. In late June, the consortium of companies developing the Shah... Read More

Putin: EU should observe Russia`s stance on Trans-Caspian gas route

Putin: EU should observe Russia`s stance on Trans-Caspian gas route Any decision made by the European Union on the Trans-Caspian Gas Pipeline should first be adopted by the countries of the so-called “Caspian five“: Russia, Azerbaijan, Iran, Kazakhstan and Turkmenistan, presidential aide Yury Ushakov said last Friday, citing Russian President Vladimir Putin. The Trans-Caspian Gas Pipeline is designed to pump gas from the Caspian region to the EU bypassing Russia.... Read More

OPEC revises up forecasts on Azeri oil output

OPEC revises up forecasts on Azeri oil output Azerbaijan`s average oil production will increase by 20,000 barrels per day to 0.97 million bpd in 2012, OPEC said in its June oil market report, an upward revision of 10,000 bpd from the previous month`s forecasts. The revision is the result of updated production data in the first quarter, as well as adjustments to the rest of the year, OPEC said. The oil cartel forecasts that Azerbaijan`s oil production will amount to 0.97mln bpd... Read More

Baku among 50 most expensive cities

Baku among 50 most expensive cities Mercer company has released the rating of the most expensive cities of the world in 2012. The Azerbaijani capital of Baku has ranked 49th among 214 cities probed by the company, News.Az reported citing the website of the company. The top ten cities in the ranking are Tokyo (Japan), Luanda (Angola), Osaka (Japan), Moscow (Russia), Geneva (Switzerland), Zurich (Switzerland), Singapore (Singapore), N’djamena (Chad), Hong Kong (China) and... Read More

Effective Management of the EU Assistance by the Governments of the Eastern Partnership Countries

Effective Management of the EU Assistance by the Governments of the Eastern Partnership Countries The seminar “Effective management of EU assistance by recipient governments of Eastern Partnership countries” is an event organized by the Estonian Centre of Eastern Partnership (ECEAP) in the framework of its involvement in the Public Administration Reform Panel under the EaP thematic Platform 1 “Democracy, Good Governance and Stability”. Likewise, the seminar is part... Read More

Economic growth rate was 0.7% in Azerbaijan

Economic growth rate was 0.7% in Azerbaijan In January-May, 2012, GDP production rose 0.7% to AZN 20.9 bln. State Statistical Committee says 67.9% of GDP was production, 25.9% – service spheres, 6.2% – net taxes for product and import, APAreports. The production in non-oil sector rose 10.5%, in oil-gas sector – decreased by 6.5% in comparison to a year earlier. GDP per capita made AZN 2,281.5 or $ 2,901.9. Note that, according to government’s forecasts,... Read More