Economists speak about “BP issue”

Economists speak about “BP issue” After the President of the Republic of Azerbaijan criticized BP, some stakeholders have called for suing the company. For example, the Member of Parliament Vahid Ahmadov said that as a result of BP’s failure to perform adequately Azerbaijan lost $8.1 billon of dollars. Thus, the government had to react on time.” The MP also noted that this violation had to be prevented: “$ 8.1 billion should be turned to Azerbaijan, and BP should think... Read More

Free Economics Course in Azerbaijan

Free Economics Course in Azerbaijan The International School of Economics at Tbilisi State University invites applicants for participation in a Free 101 Economics Course. Young professionals, recent university graduates and fourth-year undergraduate students from Armenia and Azerbaijan are eligible to apply for participation in this prestigious training program that will be held in Yerevan and Baku. The course will be taught free of charge to promote economics as a discipline... Read More

SOFAZ to invest Russian Economy

SOFAZ to invest Russian Economy The State Oil Fund of Azerbaijan has addressed the Federal Antimonopoly Service of Russia in order to get initial agreement for closing deal on purchase of 100% shares of Tverskaya 16 OJC, in Moscow. Authorized capital of the OJSC makes 159.8 mln rubles (AZN 4 mln) and its only share is Aktyor gallery, located on Tverskaya 16, Moscow. Brokers estimate the building at $100-105 mln. According to information, currently, SOFAZ conducts talks on purchase... Read More

Will Oil Output be increased next year?

Will Oil Output be increased next year? Currently action program for 2013 on the Azeri-Chirag-Gunashli (ACG) is being revised.  The statement came from President of SOCAR Rovnag Abdullayev. According to him, oil production in 2013 will be higher than in 2012. He also said a new long-term program until 2020 would be prepared in order to provide for long-term stable production in the volume of 35 million tons of oil annually at the ACG. According to Abdullayev, in April 2013 under... Read More