Next Round WTO Negotiations; No New Promises?

Next round WTO Negotiations; No New Promises? Next round negotiations of Azerbaijan’s Accession to the WTO will be at the last week of November, 2012, Azerbaijani Deputy Foreign Minister Mahmud Mammadguliyev told Trend on September, 11, 2012. “We have a maximum of four to six weeks beforehand to send answers to WTO member countries’ questions, proposals for negotiations and so on. Work on the answers is almost complete and I think we... Read More

Estimated price of Shah Deniz-2 ups

Estimated price of Shah Deniz-2 ups   The cost of the Shah Deniz Stage 2 project is now estimated slightly higher than previously at $28 billion, SOCAR President Rovnag Abdullayev said during the meeting with the graduates of the summer school of the company. “We plan to implement scaled projects, one of which is the implementation of the stage 2 project. Within the project, we will also start broadening of the South Caucasus pipeline... Read More

CESD Monitoring Report of Construction of Central Asia’s major railway project involving Azerbaijan, Georgia, and Turkey

CESD Monitoring Report of Construction of Central Asia’s major railway project involving Azerbaijan, Georgia, and Turkey CESD Report Sparks Probe into Missing Millions This paper covers the construction and monitoring of the Baku Tbilisi Kars (BTK) railway. Throughout the process of monitoring, we encountered interesting facts that raise questions about the transparency of the construction project and that suggest that the process of selecting contractors,... Read More

OPEC revises up forecasts on Azeri oil output

OPEC revises up forecasts on Azeri oil output Azerbaijan`s average oil production will increase by 20,000 barrels per day to 0.97 million bpd in 2012, OPEC said in its June oil market report, an upward revision of 10,000 bpd from the previous month`s forecasts. The revision is the result of updated production data in the first quarter, as well as adjustments to the rest of the year, OPEC said. The oil cartel forecasts that Azerbaijan`s oil production... Read More

EU issues € 10 mln to support small business in Eastern Partnership states

EU issues € 10 mln to support small business in Eastern Partnership states European Union has allocated € 10 mln to support small business in EBRD’s Eastern Partnership States, bank’s press service reported. This allowance will be spent to financing of 60+ projects within Enterprises Growth Program (EGP) in Azerbaijan, Ukraine, Armenia, Georgia, Belarus and Moldova and 600+ projects within Business Advices Service (BAS). The BAS Programme... Read More

BP reports about developments around Shah Deniz – 2

BP reports about developments around Shah Deniz – 2 Major steps will be taken in the near future to ensure the supply of gas from the Shah Deniz 2 field to Turkey and its subsequent transport to Europe, the newly appointed representative of the British BP in Turkey Bud Fackrell, who is also responsible for the activities of BP Turkey in Azerbaijan and Georgia said, newspaper Milliyet wrote on Friday. This week, BP announced its preliminary engineering... Read More

SOCAR Oil Export Declined by 7 % in the first quarter of 2012

SOCAR Oil Export Declined by 7 % in the first quarter of 2012 The State Oil Company of Azerbaijan exported 5,2 million tonnes of oil via all routes including Baku-Novorossiysk, BTC and Baku-Supsa pipelines in the first quarter of 2012 which is 7,2  % lower than compare with the same period last year. SOCAR exported 5,6 million tonnes in the first three months of 2011 . Sources at the SOCAR mentioned that Baku-Novorossiysk exported 496,8 thousand... Read More

Azerbaijan takes every effort for implementation of TAP

Azerbaijan takes every effort for implementation of TAP – Turkish Premier Azerbaijan is doing everything possible for the implementation of the Transadriatic gas pipeline. The statement came from Turkish Premier Recep Tayyip Erdogan by results of the meeting with his Albanian counterpart Sali Berisha in Ankara. According to Turkish mass media, the premier said that Turkey also supports this project. “As is known, gas via Turkey goes to Georgia... Read More

Standard & Poors Assesses CIS Economy

Standard & Poors Assesses CIS Economy The forecast of economic growth for the near future for the CIS countries exporting oil is favorable, and growth due to high oil prices to exceed four percent in 2012, said in the report of international rating agency Standard & Poors “Different procurement of natural resources and overall historic heritage determine the rating of the CIS countries “, released on March 22nd, 2012. “Increase... Read More

Azerbaijan Addressed to Odessa-Brody pipeline

Azerbaijan Addressed to Odessa-Brody pipeline The member countries of the Odessa-Brody pipeline completed the evaluation of the project on lengthen the pipeline till Gdansk city (Poland). The statement came from Azerbaijani Minister of Industry and Energy Natig Aliyev, APAreports quoting Bloomberg. According to his words, Azerbaijan, Georgia, Ukraine, Lithuania and Poland have completed the feasibility study for a pipeline to transport Caspian... Read More

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