SOCAR increases oil exports from Novorossiysk port

SOCAR increases oil exports from Novorossiysk port The Marketing and Economic Transactions Office of the Azerbaijani State Oil Company (SOCAR) in September exported 159,600 tonnes of crude oil from the Novorossiysk port. This figure is 29,955 tonnes or 23% more compared to August, Gun.Az reports, referring to the company’s website. In September, SOCAR exported 322,980 tonnes of crude oil from the Supsa port, while 1,654,929 from the Ceyhan port. Oil exported in August... Read More

Over 83% of deposits returned to customers of bankrupted Royal Bank

Over 83% of deposits returned to customers of bankrupted Royal Bank As of 1 October 2012 the depositors of the bankrupted Royal Bank received compensations in the amount of AZN 12,262,000. According to sources in the Azerbaijan Deposit Insurance Fund, this makes over 83.3% of the total amount of payments subject to compensations which equals AZN 14,718,000. “Meanwhile, the deposits in the amount of AZN 26,731,000 have been insured. Thus, as of 1 October the bank depositors... Read More

Monetary reserves of Azerbaijan’s Central Bank grow by almost 1.65 times

Monetary reserves of Azerbaijan’s Central Bank grow by almost 1.65 times As of 30 September 2012 the monetary reserves of the Central Bank of Azerbaijan made $11,506,500,000. According to the official website for the Central Bank, it is a 2% growth over 31 August.  Meanwhile, since the beginning of the year, the monetary reserves of the Central Bank have grown by 9.7%, against the same period of the last year-by 65.72% or by more than 1.65 times. News.Az  Read More

More sanctions on Iran unlikely to impact world gas market

More sanctions on Iran unlikely to impact world gas market Further sanctions on Iran are unlikely to have a major impact on the world gas market, an analyst at a Singapore-based think-tank told Trend news agency. James Dorsey, a Senior Fellow at the S. Rajaratnam School of International Studies (RSIS) of the Nanyang Technological University, was commenting on a possibility of EU imposing a ban on Iran’s gas exports. Iran, which has the world’s second biggest... Read More