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

Azerbaijani Oil Fund Budget for 2016: Brief Historical Review

Azerbaijani Oil Fund Budget for 2016: Brief Historical Review The draft budget for 2016 of State Oil Fund of Azerbaijan Republic (SOFAZ) has been discussed by the Supervisory Board of the fund. According to the SOFAZ, the fund’s 2016 budget revenues are forecasted as 6.7 billion manta and expenditures at 8.26 billion manat. SOFAZ reported that the Supervisory Board recommended the Fund’s 2016 draft budget, including the major directions of its... Read More

Azerbaijan Economy in 2014

Azerbaijan Economy in 2014 Decline of oil price in the world market was the main character of Azerbaijan economy in 2014. As an oil exporter country, Azerbaijan might face the effects of a sharp fall in oil revenue after oil price decline in the world market. Azerbaijan is heavily dependent on oil and natural gas export revenues. In fact, 2014 was somehow successful for Azerbaijan economy since the country was able to reserve growth in the almost... Read More

THE DIVERSIFICATION OF AZERBAIJAN ECONOMY; WAYS TO EUROPEAN INTEGRATION

THE DIVERSIFICATION OF AZERBAIJAN ECONOMY; WAYS TO EUROPEAN INTEGRATION “Russkii Vopros” published Vugar Bayramov’s research article The diversification need of Azerbaijan’s economy has long been debated since 2005, when the oil revenues fuelled economy’s development on one-engine shadowing non-oil sector. As many authors cite harmful effects of economic concentration, even more arguments are provided for negative consequents of concentration... Read More

80.0 % of SOFAZ’s total revenue was spent in the half of 2014

80.0 % of SOFAZ’s total revenue was spent in the half of 2014 Total revenue of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was 6.493 billion manat ($ 8.324 billion US) in the half of 2014. SOFAZ’s total spending was 5.163 billion manat ($ 6.619 billion US) in the reporting period. According to the official figures 79.5 % of the SOFAZ revenues was already spent in the first six months of 2014. Revenue of 6.374.8 mln. manat was received... 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

Azeri Oil Output Declined in the first five months of 2014

Azeri Oil Output Declined in the first five months of 2014 Azerbaijan produced 17.7 million tonnes of oil and gas condensates in the first five months of 2014, versus 18.12 million tonnes in the same period of 2013, the Azerbaijan State Statistical Committee reported on June 12, 2014. The output declined by 2.3 % in the indicated period of 2014 compared to the same passé in previous year. The most part of the produced oil fell to the Azeri-Chirag-Guneshli... 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

Oil Output Dropped by 4,0 % in Azerbaijan

Oil Output Dropped by 4,0 % in Azerbaijan   CESD forecasts decline in oil sector by 5,0 % in 2013 based on its econometric models and PSA matrix Azerbaijan produced 7,2 million tons of oil in January-February , 2013- The State Statistical Committee of Azerbaijan reported.  3,8 million tons were produced in January and 3,4 million tons in February. Oil production has dropped by 300,0 thousand tons or by 4,0 % over the same period of 2012. Meanwhile,... Read More

Azerbaijan Economy in January, 2013

Azerbaijan Economy in January, 2013 CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first month of year on February, 20, 2013. Independent calculated data show that decline in oil production and oil export will continue in 2013, too. Meanwhile, the government reports also proof that decline in oil export continue in January, 2013. State Oil Company of Azerbaijan (SOCAR) has recently reported that... Read More

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