Fitch affirms Azernerji & SOCAR at `BBB-`

Fitch affirms Azernerji & SOCAR at `BBB-` Fitch Ratings has revised the Outlook on OJSC Azerenerji`s (Azerenerji) Long-term foreign currency Issuer Default Rating (IDR) to Stable from Positive and affirmed the rating at `BBB-`. Fitch has also affirmed State Oil Company of the Azerbaijan Republic`s (SOCAR) Long-term foreign currency IDR at `BBB-` with a Stable Outlook. A full rating breakdown is below. The revision of Azerenerji`s Outlook to Stable reflects the agency`s revision... Read More

Azerbaijan, Turkey to sign agreement on TANAP project

Azerbaijan, Turkey to sign agreement on TANAP project Inter-governmental agreement on TANAP project expected to be signed in Istanbul next week. Turkey and Azerbaijan are expected to sign an inter-governmental agreement next week on the Trans-Anatolian natural gas pipeline project (TANAP), planned to carry Azeri natural gas across Turkey to Europe, Turkish officials told Reuters on June 20, 2012, APAreports. “The work has entered its final stage. The inter-governmental... Read More

Cost of Living Standard in Azerbaijan

Cost of Living Standard in Azerbaijan The real cost of living in Azerbaijan is 240,0 manats ($ 308,0) . It is so much to spend on a monthly basis for the citizen of Azerbaijan in order to get 2800 calories of energy. This was in an interview with “Echo” declared the chairman of the Center for Social and Economic Development (CESD) Vugar Bayramov. In this regard, he said, the official minimum subsistence level and the cost of consumer basket does not reflect the real... Read More