Azerbaijani Oil Income in February 2017

Azerbaijani Oil Income in February 2017 The State Oil Company of Azerbaijan Republic (SOCAR) reports that the company exported 79,841 thousand tons of crude oil from the Russian port of Novorossiysk, 349,272 thousand tons of crude oil from the Georgian port of Supsa and 1,323 million tonnes of crude oil from the Turkish port of Ceyhan in February 2017. According to the SOCAR’s report 159,777 thousand tons of crude oil were exported from the Russian... 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

Azerbaijan Economy in the First Half of 2014; Brief Overview

Azerbaijan Economy in the First Half of 2014; Brief Overview CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first half of year on July, 15, 2014. Both independent and official reports show that oil GDP continued declining in the reporting period. According to the State Statistic Committee of Azerbaijan, oil GDP decreased 3.9 % in the first four months of 2014 since CESD calculations found out 4.8... Read More

Competitiveness in Azerbaijan: Assessing Sectorial Economic Policies

Competitiveness in Azerbaijan: Assessing Sectorial Economic Policies CESD- Center for Economic and Social Development, Azerbaijan has developed new research paper titled as “Competitiveness in Azerbaijan: Assessing Sectorial Economic Policies”. This publication was developed and printed with the support of Friedrich-Ebert-Stiftung. This research paper assesses economic diversification and cross-sector competitiveness in Azerbaijan by employing... Read More

SOCAR Oil Production Fall by 2.5%

SOCAR Oil Production Fall by 2.5% The State Oil Company of Azerbaijan produced 5,5 million ton oil in the first 8 months in 2012. The statement came from sources in SOCAR. Production made 706,6 thousand ton in January, 660,9 thousand ton in February, 660,9 thousand tin in March, 684,3 thousand ton in April, 700,9 thousand ton in May, 678,5 thousand ton in June, 700,9 thousand ton in July, 701,8 thousand ton in August. Oil production has dropped by... Read More

Azeri Oil Export Fall by 12,1 %

Azeri Oil Export Fall by 12,1 % The State Oil Company of Azerbaijan (SOCAR) exported 13,9 million ton by the BTC pipeline in January-August 2012. According to CESD sources in the SOCAR, export made 1,9 million ton in January, 1,4 million ton in February, 1,9 million ton in March, 1,9 million tin in April, 1,7 million ton in May, 1,6 million ton in June, 1,9 million ton in July, 1,6 million ton in August. Oil export dropped 12,1 % (1,9 million ton)... Read More

Azerbaijan revises oil prices forecast in 2012-state budget

Azerbaijan revises oil prices forecast in 2012-state budget Rising oil prices on world markets contributes to increase in the income of the State Oil Fund of Azerbaijan (SOFAZ) additionally by 3.625 billion manat, which will increase incomes of the consolidated budget for 2012 by 19.9 percent, Azerbaijani Finance Minister Samir Sharifov said on Saturday at the meeting of the Parliamentary Committee on economic policy during the debate of the bill... Read More

Oil Contributes 87,0 % of Total Export in Azerbaijan

Oil Contributes 87,0 % of Total Export in Azerbaijan The share of crude oil in Azerbaijan’s overall export made up 86.29% against 86.62% in 2011, 86.53% in 2010 and 81.57% in 2009. In the first quarter of 2012 oil export grew by 6.76% versus last year’s same term. The State Customs Committee (SCC) informs that for Jan-Apr 2012 the country’s oil export reached 12.086 million tons (5.989 million tons in April is still the best index of the year)... Read More

SOFAZ assets reached $32 billion

SOFAZ assets reached $32 billion The State Oil Fund of Azerbaijan (SOFAZ) had assets of $32,359.4m as of 1 April, 8.6% up on 1 January 2012, when they were $29.8bn. In the first quarter of 2012, SOFAZ received budget revenue of AZN 3,586,900,000 ($4.57bn) and spent AZN 1,919,900,000 ($2.44bn), APAreports. The Oil Fund, which began to purchase gold during the reporting period, now has 2.804 tonnes of gold (90,143 ounces). The bulk of the fund’s... Read More