Latest News

SURPLUS OF FOREIGN TRADE BALANCE APPROACHED $2B

For eight months of this year, the volume of foreign trade operations of Azerbaijan with 180 countries of the world amounted to $ 12 billion 523.8 million, which is 9.2% less than for the same period ...

AZERI ECONOMY IS RECOVERING

For the first eight months of this year, Azerbaijan exported 310,500 tons of fruits and vegetables, 63.5% more than in the comparable period of 2016, the State Customs Committee (SCC) reported. The vo...

NEW MAJOR OIL & GAS CONTRACT SIGNED IN BAKU

A signing ceremony of the Amended and Restated Agreement on the Joint Development and Production Sharing for the Azeri and Chirag fields and the Deep Water Portion of the Gunashli field in the Azerbai...

AZERI OIL PRICES FOR THE PAST WEEK

Average price of AZERI LT CIF, extracted at Azerbaijan’s Azeri-Chirag-Gunashli block of fields, was $55.94 per barrel on Sept. 4-8 or $1.95 per barrel more than the previous week. The highest price of...

WEEKLY REVIEW OF AZERI CURRENCY MARKET

The official exchange rate of Azerbaijani manat against the US dollar set by the Central Bank of Azerbaijan (CBA) increased by 0.0001 manats (0.0059 percent) last week. Accordingly, the average rate w...

ALIYEV ANNOUNCES NEW OIL CONTRACT

A few days later, it is planned to sign a new contract for the development of the Azeri-Chirag-Gunashli field block. We will continue our activities in this field until 2050. This once again demonstra...

GAS PRICE INCREASE IN AZERBAIJAN

The price of AI-98 (Super) gasoline in Azerbaijan increased from 1.20 to 1.30 manat. AI-98 is sold only at filling stations owned by SOCAR Petroleum CJSC. The price of AI-98 gasoline increased on Tues...

AZERBAIJANI youth bogged down IN loan debts

‘Young people make up about 80 per cent of borrowers in Azerbaijan. The vast majority of the borrowers are under 40, most are normally not older than 30,’ says Akram Hasanov, a well-known ...

OPEC basket PRICE drops

The price of OPEC basket of thirteen crudes stood at $52.17 a barrel on Jan.16, compared with $52.64 on Jan.13, according to the cartel’s website. The OPEC Reference Basket of Crudes (ORB) is made up ...

Aliyev Slams Local Independent Economists

President Ilham Aliyev held a meeting with the Cabinet of Ministers on Tuesday dedicated to the results of socioeconomic development over the last year and perspectives for future. According to the Pr...