Business

18 May 2005 [21:20]

"Garadagh" Cement rebuffs reports on non-payment of taxes to public budget

"Garadagh" Cement LTD has rebuffed the local media reports on non-payment of taxes to the public budget by the company, Trend reports.
18 May 2005 [21:14]

GTZ to hold seminars for judges of Sheki, Guba, Gyanja

In late May the German Society for Technical Assistance (GTZ) plans to hold seminars in Sheki and Guba, and late June in Gyanja for local judges, GTZ reports, according to Trend.
17 May 2005 [10:43]

Realization of project of construction of Baku circle road to start by end of 2005

The Ministry of transport of Azerbaijan plans starting realization of project of construction of Baku circle road by the end of this year.
17 May 2005 [10:36]

SOCAR representatives left for London to session of Board of directors of JV Caspian Drilling Company

Session of the Board of directors of Azerbaijan-American Joint Venture Caspian Drilling Company (CDC) has started in London 16 May.
14 May 2005 [14:44]

Law disordering and violations revealed in "Garadagh-Cement"

As a result of the investigations held by he Ministry of Taxes (MT) in the "Garadagh-Cement" OSC some law disordering and violations were revealed in the work of the company.
14 May 2005 [14:33]

Kamaladdin Heydarov called the businessmen to pay attention to the local production

The chairman of the State Customs Committee Kamaladdin Heydarov held a press-conference yesterday.
14 May 2005 [14:31]

Experts indicate little chance of success of detection of hydrocarbons at the first exploration well at "Yalama"

Danish company Maersk drilled 4100 meters during passage of the first exploration well in structure "Yalama" (block D-222) by order of Russian LUKOIL, the agency Trend reports, the reliable sources inform about this.
14 May 2005 [14:29]

Minimum wage will not risen from June

It won't be possible to raise the minimum wage from June. Finance Minister Avaz Alakberov informed about it.
14 May 2005 [13:52]

SOCAR prepares the future oil export strategy of Azerbaijan

State Oil Company of Azerbaijan Republic (ARSOC) is preparing the future oil export strategy of Azerbaijan taking into consideration Baku-Supsa, Baku-Novorossiysk, and Baku Tbilisi-Ceyhan pipelines.
13 May 2005 [12:49]

Georgian President reaffirms its participation in BTC opening ceremony

Georgian President Mihkeel Saakashvili and Azerbaijani leader Ilham Aliyev had a telephone talk on Thursday, the President's Executive Power announced.
13 May 2005 [12:32]

Avaz Alakbarov: "Falling of the prices is related with some factors"

The Ministry of Finance will hold investigations in 55 objects this year.
13 May 2005 [12:24]

Annual conference on execution "Poverty Reduction and Economic Development Program" held in Baku

An annual conference was held concerning the execution of the "Poverty reduction and Economic Development Program" in Guba hall of the "Hyatt Regency" hotel yesterday.
13 May 2005 [12:21]

USA will assist Georgia at negotiations on gas purchase from field "Shah-Deniz"

USA is ready to assist Georgia at negotiations on purchase of additional volumes of gas from Azerbaijan, produced at field "Shah-Deniz".
13 May 2005 [12:04]

Reserves of new gold deposit "Bashkend" in NAR are estimated in amount of 300-350 tons

Reserves of new gold deposit "Bashkend" in Nakhichevan (NAR) are estimated in amount of 300-350 tons.
13 May 2005 [11:51]

AIOC significantly increased export of oil from Azerbaijan

During January-April 2005 Azerbaijan International Oil company (AIOC) working at sea block "Azeri-Chirag-Guneshli", exported totally 2,744 mln. tons of oil, this is by 709 thousand tons more than indicators of January-April 2004.
12 May 2005 [19:17]

Arrival of about 1,5 million tourists to Azerbaijan is expected

It is expected, that 1,5 million of tourists will visit Azerbaijan in 2005, the press-service chief of the Ministry of Youth, Sport and Tourism, Rafig Abbasobv told Trend.
12 May 2005 [18:45]

The mission of International Currency Fund holds meetings with Azerbaijan officials

The representative staff guided by the leader of the mission on Azerbaijan of the International Currency Fund (ICF) Vitali Kromarenko is holding meeting with the official of the country.
11 May 2005 [18:45]

Start of BTC linefill

BTC Co, operated by BP, has started filling the BTC head pump station at the Sangachal terminal (PSA), marking the first line fill phase of the Baku-Tbilisi- Ceyhan (BTC) oil export pipeline, the agency Trend reports.
11 May 2005 [18:34]

For solution of tax issues with Lukoil Azerbaijan involves international auditor companies

For solution of tax payments with LUKOIL Azerbaijan involves international auditor companies.
07 May 2005 [17:50]

Exxonmobil proposed SOCAR $27 mln for refusal from exploration drilling in Azerbaijan

American ExxonMobil during negotiations with State Oil Company of Azerbaijan compensation in amount of $27 mln for refusal from drilling of exploration well at prospective structure "Nakhichevan".
06 May 2005 [16:06]

Next meeting of the USA-Azerbaijan interstates Working Group held in Baku

Next 10th meeting of the USA-Azerbaijan Working Group on Economical cooperation was held in Baku.
06 May 2005 [14:37]

Farkhad Aliyev predicts growth of economy by 18-20% in 2005

The Minister of economic development Farkhad Aliyev predicts growth of economy by 18-20%.
06 May 2005 [14:23]

President decree about anti-inflation measures may be singed during two-three days

The decree of Azerbaijan president Ilham Aliyev about settlement of anti-inflation processes may be signed in the nearest two-three days.
05 May 2005 [19:25]

Chinese companies interested with ex-contract area of Lukoil

Several Chinese companies study the possibility of obtaining of operator functions in the project of rehabilitation and development of onshore field "Hovsany-Zykh", the agency Trend reports, reliable sources inform about this.
05 May 2005 [19:20]

Ganja car plant signed agreement with Ulyanov car plant

Ganja car plant signed General agreement with Ulyanov car plant.
04 May 2005 [16:22]

Talks on Azerbaijan's entrance to WTO be held in June

Talks on Azerbaijan's entrance to he World Trade Organization (WTO) have been scheduled for June, the Azerbaijani Foreign Ministry announced.
04 May 2005 [15:41]

Georgia wants reconsidering contract about gas transit from Azerbaijan

(Reuters) - Tbilisi will attempt changing contract with consortium headed with BP about transit of natural gas from Azerbaijan field "Shah Deniz" to Turkey, with aim to increase gas share, fixed by agreement for Georgia, the Minister of energy Nika Gilauri said.
04 May 2005 [15:24]

IMF mission head will arrive to Azerbaijan in first half of May

The head of mission of the International monetary fund (IMF) Vitaliy Kramarenko is to arrive to Azerbaijan 8-9 May.
03 May 2005 [14:48]

Ryder Scott estimated reserves of field "Southern-Western Gobustan"

The company Ryder Scott, independent oil gas consultant, estimated reserves of Azerbaijan onshore filed "Southern-Western Gobustan".
03 May 2005 [13:54]

30 big buses brought to Azerbaijan from abroad

30 big buses have been brought to Azerbaijan from abroad.
03 May 2005 [13:29]

International Bank intends to increase the number of plastic cards to 90-92 thousand

Azerbaijan International Bank (AIB) intends to strengthen the leadership of the country in plastic cards market.
03 May 2005 [13:27]

Antimonopoly code is under development in Azerbaijan

The antimonopoly code is under development in Azerbaijan.
03 May 2005 [13:20]

Incut to oil pipeline Baku-Supsa didn't influence pumping of Azerbaijan oil

The financial police of Georgia informed BP Azerbaijan about incut to pipeline Baku-Supsa, which transports oil from Azerbaijan field "Azeri- Chirag-Guneshli".
30 April 2005 [16:30]

Ministry of ecology brought an action in amount of 719,7 mln manats against Gobustan Operational Company

Presently, court examination between the ministry of ecology and natural resources of Azerbaijan and Gobustan Operational Company is proceeding.
30 April 2005 [16:28]

Highest quantity of oil in Azerbaijan will be produced in 2005

The highest quantity of oil to be produced in 2005 in Azerbaijan - 20 mln 293 tons.
30 April 2005 [15:07]

DEG invests $30 mln to Azerbaijan for 2-3 years

Investment Company DEG, the member of the group of German bank of development KfW, announced its plans on middle term investments to financial sector of Azerbaijan.
29 April 2005 [16:24]

SOCAR is ready allocating additional volumes of diesel fuel to Georgia

After request of Georgia State Oil Company of Azerbaijan SOCAR is ready allocating to this state additional volume of diesel fuel.
29 April 2005 [15:49]

ECOSAI session launched 28 April

The session of management board of organization ECOSAI (Organization of Supreme Bodies of Financial control of states of Economic Cooperation Organizations ECO) has launched 28 April, in Baku.
29 April 2005 [15:36]

New vice-president appointed in SOCAR

The president of State Oil Company of Azerbaijan Natik Aliyev appointed by his decree the new vice-president of the company.
29 April 2005 [15:05]

DEG allocated credit line to Azerbaijan bank "Respublika"

German investment company DEG, entering group of companies of German bank of development KfW, allocated credit line to Azerbaijan bank "Respublika".
28 April 2005 [19:46]

Azerbaijan is in the 120th place among richest 180 countries

International Monetary Fund compiled the rating list of world states according to the level of national income per person.
28 April 2005 [18:44]

Agreement on joining of Azerbaijan Post Network to Western Union to be signed second half of the year

Bilateral agreement on joining of Azerbaijan post network to above indicated system of money orders is to be signed between the state enterprise "Azerpochta" and system of International money orders Western Union in the second half of 2005.
28 April 2005 [18:32]

Heydar Babayev: Absence of interest to securities in Azerbaijan is directly connected with their low rate of profitability

Absence of interest to securities is directly connected with their low rate of profitability.
27 April 2005 [18:29]

Three main factors influence on growth of inflation in Azerbaijan

Three main factors influence on growth of inflation in Azerbaijan.
27 April 2005 [17:45]

McDermott employee, working aboard ship "Israfil Huseynov", died

The employee of American McDermott, which is operator of BP Azerbaijan and conducts construction of underwater pipelines, died during accomplishment of works at specialized ship "Israfil Huseynov".
27 April 2005 [17:24]

New action plan of EU on Azerbaijan to be considered for 2007-2009

The European Union intends starting development of new middle term plan.
27 April 2005 [17:17]

Gold production started in Azerbaijan

Several British companies are to start operation of gold mines, discovered in Kedabek region of Azerbaijan.
27 April 2005 [17:00]

Wages, social benefits to be increased

The wages of employees of the budgetary organizations and social benefits will increase in Azerbaijan, Azerbaijani President Ilham Aliyev stated in an opening ceremony of the Olympic Complex in Shamakhi District, central Azerbaijan, on Tuesday.
26 April 2005 [14:06]

Azerbaijan, Kazakhstan developing about 5 new bilateral documents

Five draft new inter-governmental and inter-departmental documents on cooperation have been prepared between Azerbaijan and Kazakhstan, diplomatic sources told Trend.
26 April 2005 [14:01]

Around 2m tourists expected to tour Azerbaijan in 2005

Around 2 million tourists are expected to your Azerbaijan in 2005, the Ministry of Youth, Sports and Tourism told Trend.
26 April 2005 [13:54]

ExxonMobil accomplished all contract obligations on drilling of the first expolotration well at "Zafar-Mashal"

American ExxonMobil completed ecological researches by results of drilling of the first exploration well at prospective structure "Zafar- Mashal", the agency Trend reports, ExxonMobil informed about this. Company is operatorof the project with 30% of shares.
26 April 2005 [13:09]

Ganja car plant produced 103 cars for the first quarter this year

The Ganja car plant produced 103 cars for the first quarter of this year.
23 April 2005 [08:55]

The volume of external turnover of Azerbaijan was $1,6 bln for three months of 2005

For three months of 2005 the volume of external turnover of Azerbaijan was $1,6 bln.
22 April 2005 [19:23]

"Silk Way Airlines" Azerbaijan company got permission for carrying international humanitarian freights

"Silk Way Airlines" Azerbaijan company got permission for transporting international humanitarian freights.
22 April 2005 [19:11]

"Salyan Oil" meets the worker's needs

"Salyan Oil" company began to meet the worker's needs.
22 April 2005 [17:57]

Establishment of infrastructure for oil export from Kazakhstan by BTC estimated in $1,5 bln

Establishment of transport system for transportation of Kazakhstan oil up input flange of pipeline Baku-Tbilisi-Ceyhan (BTC) between two states is estimated by experts twice cheaper than it has been stated previously during round of negotiations between two states.
22 April 2005 [17:38]

President Aliyev notes positive growth pace of economy

In 2005 the Azerbaijani public budget grew approximately 30%, Azerbaijani President Ilham Aliyev told a meeting dedicated to the economic results of the first quarter of 2005.
21 April 2005 [16:43]

Azerbaijan and Kazakhstan want preparing text of intergovernmental agreement on pumping of oil by BTC, which is suitable for foreign companies

Azerbaijan and representatives of BTC Co. at today stage of negotiations with Kazakhstan party agree in the text of future intergovernmental agreement between two states about pumping of Kazakhstan oil by pipeline Baku-Tbilisi- Ceyhan (BTC).
21 April 2005 [16:41]

Georgia intends increasing purchase of Azerbaijan gas from Shah-Deniz

Georgia expressed its wish to increase future contract purchase of natural gas from Azerbaijan field Shah-Deniz.
21 April 2005 [16:27]

Production of "Azeri" field exceeded 2 mln barrels of oil Azeri light

Effectiveness of operation of platform, installed in the central part of field Azeri is 84.2%, and its production presently exceeded 2,076 mln barrels of oil, the agency Trend reports, press release of Azerbaijan International Operating company (AIOC) informs about this.
20 April 2005 [17:03]

Companies are not interested in exhibition "Transcaspian 2005"

Companies do not show active interest in exhibition "TRANSCASPIAN 2005".
20 April 2005 [16:52]

David Woodward held a press conference dedicated to the results of works done in the first quarter

Yesterday the president of Azerbaijan International Operation Company (AIOC) David Woodward and the heads of projects operator of which is "bp Azerbaijan" company held a press conference dedicated to the result of work done in the first quarter of this year.
20 April 2005 [16:51]

Palmali company invested 4 mln euro in construction of dairy factory in Lankoran

The head of the company Palmali, operating in Turkey, Mubariz Mansimov invested for construction of dairy factory in Lankoran an amount of 4 mln EURO. The agency Trend reports, the head of Executive power of Lankoran Zeynal Nagdaliyev informed about this.
20 April 2005 [16:29]

"British Bank" doesn't have intention to restore its activity in Azerbaijan

"British Bank" doesn't have intention to restore its activity in Azerbaijan.
20 April 2005 [16:22]

SOCAR to export 85 thousand tons oil via Baku-Novorossiysk oil pipeline in May

State Oil Company of Azerbaijan Republic (SOCAR) will export 85 thousand tons oil via Baku-Novorossiysk oil pipeline in May.
20 April 2005 [16:16]

Two agreements on transit of Kazakhstan oil to be signed by end of year

Two agreements on transit of Kazakhstan oil are to be signed between Baku and Astana by end of year, which is to pass via territory of Azerbaijan. The agency Trend reports, the president of State Oil Company of Azerbaijan Republic (SOCAR) Natik Aliyev informed.
19 April 2005 [14:17]

Budget incomes of State Oil Fund was 364.6 billion manats, its budget expenses 221.0 billion manats in the I term of this year

Budget incomes of State Oil Fund of Azerbaijan Republic (SOFAR) was 364.6 billion manats, its budget expenses 221.0 billion manats in January-March of 2005.
19 April 2005 [14:14]

K.K?byldin: BTC to be the priority oil export route for the Kashagan shareholders

Participants of the project for development of Kashagan oil field in Kazakhstan consider several options for the export of oil from the contract area.
19 April 2005 [14:12]

Natik Aliyev: Establishment of transport system Aktau-Baku will require $3 bln

Azerbaijan and Kazakhstan parties started next negotiations about joining of Kazakhstan to the project Baku-Tbilisi-Ceyhan (BTC) and preparation of the text of inter-governmental agreement between both states, 18 April, at Hyatt Regency in Baku.
19 April 2005 [13:38]

22,7% of external turnover of Azerbaijan was in CIS during January- February

Azerbaijan has realized during January-February 2005 ex?ort-im?ort o?erations with 103 countries of the world against 119 countries in 2004 and 124 countries in 2003.
19 April 2005 [13:35]

Program of young specialists is realized within TACIS program

The em?loyees of different institutions of the Ministry of economic develo?ment ?artici?ated at the ?rogram of young s?ecialists from the mid 2004 till beginning of 2005.
16 April 2005 [12:17]

Issue of joining of Kazakhstan to BTC to be discussed in April

The delegation of CSS of OC "Kazmunaygaz" is to arrive to Baku, Sunday.
15 April 2005 [16:44]

Investors in BTC to receive privilege tariff for pumping of condensate on Baku-Ceyhan

Five companies, participants of the project on development of the field "Shah-Deniz", will get privilege tariff on pumping of condensate by pipeline Baku-Tbilisi-Ceyhan (BTC), the agency Trend reports, projects sources informed.
15 April 2005 [16:27]

Ilham Aliyev received the president of AIOC David Woodward

Yesterday President Ilham Aliyev received president of Azerbaijan International Operation Company (AIOC) David Woodward.
15 April 2005 [16:10]

French experts studying opportunities of establishing winter tourism in Azerbaijan

French experts are studying opportunities for establishment of winter tourism in Azerbaijan, the Tourism Department of the Ministry of Youth, Sports and Tourism told Tend.