How Much Does Azerbaijan Really Earn from Higher Oil Prices?

How Much Does Azerbaijan Really Earn from Higher Oil Prices? Fiscal revenues of carbohydrogen rich Azerbaijan is severely dependent on sales of oil, oil products and natural gas. From this point of view the change of oil prices in the global markets is considered as the main indicator for estimating the financial condition of the government. It should be noted that the price of a barrel of oil is estimated to be 45 USD when calculating the state and... Read More

CESD Research Paper: Higher Oil Price: Sustainable or Temporary Economic Growth?

CESD Research Paper: Higher Oil Price: Sustainable or Temporary Economic Growth? The purpose of the research is to demonstrate the influence of oil price change on Azerbaijan as a whole in order to provide the explanation for the major developments of economic and social policies. Furthermore, the paper studies the impact of increasing and stabilizing oil prices on Azerbaijan Economy after the second half of 2016. It presents a macroeconomic analysis... Read More

Sharp decline in Azerbaijani oil output in 2017

Sharp decline in Azerbaijani oil output in 2017 38.7 million tons of crude oil and 28.6 billion cubic meters of natural gas were produced in Azerbaijan in 2017, according to the State Oil Company of Azerbaijan Republic (SOCAR). The company produced 7.4 million tons of crude oil and 6.1 billion cubic meters of natural gas in the reporting period. According to the company’s report, SOCAR’s crude oil export for 2017 amounted to 20.7 million tons.... Read More

Oil Becomes More Expensive. Should We Be Happy about That?

Oil Becomes More Expensive. Should We Be Happy about That? The oil market started in 2018 with a successful “run” to new highs for 2.5 years: according to Bloomberg, last Thursday the price of Brent at the auctions in London exceeded $ 68 per barrel for the first time since May 2015. The American standard WTI went up by 3.9% – to 62.21 dollars per barrel, also having registered a peak since the summer of 2015. A new record was demonstrated... Read More

Azerbaijan Oil Fund’s Annual Report: Spending is more than income

Azerbaijan Oil Fund’s Annual Report: Spending is more than income Annual report is available at the CESD’s web site Azerbaijan’s sovereign wealth fund SOFAZ recorded decrease in the revenues from the hydrocarbon sales in 2016 due to the low oil prices, while there was a significant increase in the revenues from the management of the Fund’s assets. The revenues obtained from the sales of Azerbaijan’s share of hydrocarbons, the fees paid... Read More

Azerbaijani Oil Fund: Fiscal Consolidation, Volatility and Oil Wealth

Azerbaijani Oil Fund: Fiscal Consolidation, Volatility and Oil Wealth The execution of the State Oil Fund of Azerbaijan’s (SOFAZ) 2016 budget has been approved. According to a Presidential decree, SOFAZ’s revenue was 9.410 billion manat ($5.881 billion USD) and expenditure was 9.022 billion manat ($5.638 billion USD). Initially, SOFAZ’s revenue for 2016 was forecasted as 4.6 billion manat, while expenditure was expected to be 10.7 billion... Read More

Azerbaijani oil export declined by 4.5 %

Azerbaijani oil export declined by 4.5 % Azerbaijan exported 5 million 374 thousand 87 tons oil through the Baku-Tbilisi-Ceyhan pipeline in the first four months of 2017. Meanwhile, 878 thousand 664 tons oil exported through Supsa and 489 thousand 206 tons by Novorossiyski. It means that Azerbaijan exported 6 million 741 thousand 959 tons oil in the indicated period. According to the SOCAR’s report, Azerbaijan exported 5 million 741 thousand 694... Read More

Azerbaijani Oil Income in October 2016

Azerbaijani Oil Income in October 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that its oil export grew by 45.5% in October 2016 compared with previous month. The SOCAR reports that it exported 2.017 million tons of oil against 1.386 million tons in September, 1.53 million tons in August and 1.924 million tons in July (this year’s best indicator). At that, October’s oil export via Baku-Novorossiysk oil pipeline reached 80,192... Read More

Azerbaijani oil export declined by 7 %

Azerbaijani oil export declined by 7 % Azerbaijani oil export decreased by 6.86% in June 2016 compared with previous month. According to the State Oil Company of Azerbaijan Republic (SOCAR) reports total export was 1.676 million tons of oil in June against 1.799 million tons in May. Meanwhile, Azerbaijani oil export was 1.449 million tons in April, and 1.9 million tons in March 2016. At that, June’s oil export via Baku-Novorossiysk oil pipeline... Read More

Azerbaijani Oil Income in May 2016

Azerbaijani Oil Income in May 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that it exported 1.799 million tons of oil in May against 1.449 million tons in April and 1.9 million tons in March 2016. Oil export in May 2016 increased compared with April 2016, however, it decreased compared with March 2016. Azerbaijani oil export increased by 24.2% in May against April 2016 and decreased by 6.0 % compared with March 2016. Download... Read More

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