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

Azeri gas output to reach 40bn cubic meters by 2025

Azeri gas output to reach 40bn cubic meters by 2025 Gas production in Azerbaijan will reach 40 billion cubic meters (excluding injection) by 2025, according to forecasts, president of Azerbaijan’s state energy company, SOCAR, Rovnag Abdullayev, said on September 07, 2012. He noted that the figure will be 20 billion cubic meters by 2015. Abdullayev said $50 billion has been invested in the PSA contracts in Azerbaijan so far.  Read More

Oil Output fell by 7,0 % in Azerbaijan

Oil Output fell by 7,0 % in Azerbaijan Azerbaijan Produced 14,8 million ton oil and 6,0 billion cubic meters gas in the first four months of 2012. According to the State Statistical Committee 15,9 million ton and 8,4 billion cubic meters gas produce in the same period of 2011. Oil output decreased 7,0 % in the first month of 2012, meanwhile the production in mining sphere of industry in January-April decreased by 5.3% compared to the same period of... Read More