Business

04 June 2005 [10:03]

Credit treaty signed between The World Bank and government of Azerbaijan

Credit treaty on the implementation of the project “Assistance to economic development of internally displaced people” signed between World Bank (WB) and government of Azerbaijan in the Cabinet yesterday.
04 June 2005 [10:01]

AIOC produced 450 mln.cubic meters of gas in “Chirag” since the early year

Azerbaijna International Operating Company (AIOC) produced 449.5 mln. cubic meters of gas in “Chirag” during the first 5 months of this year, that is 3% more in comparison with the corresponding period of last year.
04 June 2005 [09:48]

SOCAR’s oil production prediction to be approximately 8 million 750 thousand tons by the end of year

Prediction of State Oil Company on oil production will be approximately 8 million 750 thousand tons by the end of year.
04 June 2005 [09:30]

Exxonmobil exports 320,000 tons of Azeri Light oil to Batumi from June till September

The American ExxonMobil plans to export some 320,000 tons of the Azeri Light oil through the Azerbaijanian – Georgian railway line till Batumi port, produced by the Azerbaijan International Operation Company (AMOC) from the Azeri-Chirag Gyuneshli (ACG) field from June till September.
03 June 2005 [10:10]

BTC co completes testing Azerbaijani section of BTC

Testing of the Azerbaijani section of the Baku-Tbilisi-Ceyhan (BTC) main export oil pipeline is complete. BTC Co, operated by BP, told Trend, only 16km-long trenches are still to be closed along the pipeline with the length of 1,768 km.
03 June 2005 [09:57]

President Ilham Aliyev met with World Bank director on South Caucasus

President Ilham Aliyev today received the delegation led World Bank (WB) director on the South Caucasus Ms. Donna Dowsett Coirolo.
03 June 2005 [09:07]

SOCAR will get over 100,000 tons oil from new well on “Gyuneshli” field

In the nearest time SOCAR will commission the well N72, which is being drilled from the marine stationary platform N19 on the shallow part of the “Guyneshli” field, where the company operates on its own means.
03 June 2005 [08:59]

Ministry of taxes brought criminal action against SSOT «Garadag-Cement»

The Ministry of taxes brought a criminal action against Stock Society of Open Type SSOT «Garadag-Cement».
02 June 2005 [15:00]

Middle East Petrol to increase capacity of Dubandi terminal to 20m tons

Middle East Petrol of Dubai intends to invest some $68m in the reconstruction of the Azerbaijani terminal in Dubandi, Abdulbari Gozal, the President of Middle East Petrol, told Trend on Wednesday.
02 June 2005 [14:32]

First Airbus "A319" to arrive to Azerbaijan 15 July

The first airbus A319 purchased by State concern Azerbaijan air line (AZAL) is to arrive to Azerbaijan 15 July. The agency Trend reports, SC informed about this.
02 June 2005 [14:09]

Iran interested to construct fishery plant in Azerbaijan

Iran is interested to construct fishery plant in Azerbaijan.
02 June 2005 [13:39]

President Ilham Aliyev signed decree on strengthening anti-inflation measures

President Ilham Aliyev signed a decree on strengthening anti-inflation measures.
02 June 2005 [13:37]

India proposed to Azerbaijan to take part in conference of oil producers and consumers in Asia

India proposed to Azerbaijan, Russia, Kazakhstan, Turkmenistan and Uzbekistan to take part in a big international conference of oil and gas producers and consumers in Asia, which is scheduled to be held in New-Delhi in October this year, the Indian Minister of Oil industry and Gas, Mani Shankar Ayar stated, Trend reports.
01 June 2005 [13:00]

Germans to conduct monitoring of atmosphere

German specialists will hold monitoring of atmosphere in BAKU.
01 June 2005 [12:47]

Gars-Tbilisi-Baku railway to be exploited by the end of 2008

Gars-Tbilisi-Baku railway will be exploited by the end of 2008.
01 June 2005 [12:45]

Azerbaijan-Germany economical forum started in Berlin

Azerbaijan-Germany economical forum started in Berlin. According to the information given to APA from Ministry of Economic Development, the delegation composed of 60 persons has left for Berlin to attend the forum.
01 June 2005 [12:31]

Azerbaijan-Pakistan chemists’ forum to be held in Baku

The forum of Azerbaijani and Pakistani chemists will be held in Baku on 11 June.
31 May 2005 [13:44]

World Bank coordinator on the South Caucasus is on a visit to Baku

Delegation led by World Bank coordinator on the South Caucasus Donna Dauseld-Koyrolan has come for official visit to Baku.
31 May 2005 [13:36]

EBRD to approve loan to Lukoil within frames of project «Shah-Deniz»

EBRD is to consider at the Board of directors the possibility of allotment to Lukoil Overseas Holding Limited of loan in amount of $110 mln for financing of share of expenses within frames of project on development of gas condensate field «Shah-Deniz».
31 May 2005 [13:33]

Russian UAZ vehicles will be produced in Ganja

At the Gynja car factory OKA model cars are being assembled. In the next two months, assembly of UAZ model cars is planned.
28 May 2005 [16:41]

TOTAL wants to build new terminal in Azerbaijan

French company Total is considering the opportunities of the construction of a new oil terminal in the Azerbaijani section of the Caspian under the prospects of the oil export from the Kashagan field via the Baku-Tbilisi-Ceyhan main export oil pipeline.
28 May 2005 [16:24]

LUKOIL might pay compensation to SOCAR for refusal from drilling second on D-222 (Yalama)

Russian oil company LUKOIL might pay compensation to the State Oil Company of Azerbaijan (SOCAR) for refusal from drilling the second obligatory well on the Azerbaijani field Yalama (D- 222 bloc), the reliable sources told Trend.
28 May 2005 [16:18]

Azerbaijan-Germany economic conference to be held in Berlin on May 31

A conference on Azerbaijan-Germany economic relations will be held in Berlin on May 31.
28 May 2005 [16:15]

50% budget incomes of Azerbaijan falls at private sector

50% of incomes of the state budget of Azerbaijan fall at private sector.
27 May 2005 [13:05]

Construction of railway line between Azerbaijan and Iran can be started after 6 months

Construction of railway line between Azerbaijan and Iran on "North-South" project can be started after 6 months.
27 May 2005 [13:02]

Caspian Shipping spent about $50 mln for procurement of tankers

Azerbaijan state Caspian shipping purchase new tankers for transportation of Kazakhstan oil by pipeline Baku-Tbilisi-Ceyhan (BTC), the agency Trend reports, the deputy chief of Caspian shipping Tofik Masurov informed about this.
25 May 2005 [09:17]

Islamic Development Bank to give $ 10 mln credit to Azerbaijan for building settlements for displaced persons

The Islamic Development Bank (IDB) will give $ 10 mln.
25 May 2005 [09:13]

Open Society Institute completed monitoring of Baku-Tbilisi-Ceyhan main export pipeline

Representatives of Open Society Institute-Aid Foundation held press conference on the completion of the main stage of the monitoring of Baku-Tbilisi-Ceyhan main export pipeline conducted by non-governmental organizations.
25 May 2005 [09:00]

Steven Mann: "Exploitation of Baku-Tbilisi-Ceyhan will be turning point of Eurasia energy projects"

The USA State Department chief counselor for Eurasia matters, Ambassador Steven Mann and The USA Ambassador in Azerbaijan Reno Harnish held press conference yesterday.
25 May 2005 [08:55]

Azerbaijan, Kazakhstan sign 6 agreements

Azerbaijan and Kazakhstan has signed 6 intergovernmental agreements during the official visit of Kazakh President Nursultan Nazarbayev to Baku.
25 May 2005 [08:09]

Three-sided contract on construction of Gars-Tbilisi-Baku railway to be signed

Three-sided contract on the construction of Gars-Tbilisi-Baku railway will be signed.
25 May 2005 [08:07]

Central Azeri Commences Delivery of Gas to Azerbaijan

The Azerbaijan International Operating Company (AIOC), operated by BP, commenced on May 23, delivery of associated gas to the Azerbaijan state from Central Azeri and Sangachal Terminal.
24 May 2005 [09:26]

EBRD to allocate $15,5 mln for construction of office complex

The European bank of reconstruction and development approved for construction of office complex in Baku allotment of $15,5mln for realization of the project by company Azinvest Property in Baku.
24 May 2005 [08:51]

Bank rate increased in Azerbaijan

The National bank of Azerbaijan increased Bank rate by 0,5%.
24 May 2005 [08:42]

EBRD: "The volume of the Azerbaijan economy will increase 20 % this year"

The price of oil will reduce from $50 down to $30-40 in the middle-time perspective in the world market.
24 May 2005 [08:36]

Annual meeting of Islamic Bank of Development of 2010 may be held in Baku

The Board of directors of Islamic Bank of development adopted decision about conducting of annual meeting of the bank in 2010 in Baku.
23 May 2005 [11:56]

France intends to expand economic relations with Azerbaijan

Prospects of development of relations between France and Azerbaijan were in the focus of the "Days of Caucasus" held recently in Paris, in the building of the Senate.
21 May 2005 [09:55]

AIOC to export by 40 thousand barrels of oil per day in June to Batumi

Baku, IAA "Trend" 20 May corr. V.Sharifov.
21 May 2005 [08:58]

Azerbaijan and IMF agreed decreasing core inflation by end of 2005 up to single digits by end of 2005

The purpose of IMF mission, which visited Baku 4-18 May 2005 led by Mr. Vitali Kramarenko (deputy division chief, Middle East and Central Asia department) was discussion with representatives of Azerbaijan government of economic policy, which could support summarization of results of the fifth review within frames of Poverty reduction and growth facility, which will end July 4, 2005.
21 May 2005 [08:18]

Director of World Bank to arrive to Azerbaijan

The delegation of the World Bank (WB), headed with director of WB on the state Mrs. Dona Kayrola and WB specialist Christian Peterson is to arrive to Azerbaijan 23 May.
20 May 2005 [19:50]

Azerbaijan needs years to join WTO

It will require years for Azerbaijan to join to the World Trade Organization (WTO).
20 May 2005 [19:01]

World Customs Security Exhibition II-Forum started in Baku

World Customs Security Exhibition II-Forum started in the Sport and Concert Complex named after Heydar Aliyev yesterday.
19 May 2005 [14:37]

Tax payers to pay the taxes in the electron variant since next year

At present automated taxes payment project is being realized in the field of improving the taxes system of the country.
19 May 2005 [14:23]

The World Bank to allocate Azerbaijan $68 million credit

The Directors Council (DC) of the World Bank (WB) adopted a decision about granting to Azerbaijan $68 million credit.
19 May 2005 [14:12]

Huseyn Baghirov: "For the account of cutting down Azeri forests Armenia increased wood export"

The series of measures must be conducted in order not to run polluted water from the lakes situated in the Absheron peninsula into the sea.
19 May 2005 [14:05]

$1622,8 mln invested into economy of Azerbaijan for January-April

7914,2 bln manats of the capital was invested into economy of Azerbaijan for January-April 2005 ($1622,76 mln by average exchange rate of January- April in 4877 AzM/USD).
19 May 2005 [13:55]

Presidents of four States to sign political declaration within frames of corridor "East-West" in Baku 25 May

Within frames of corridor "East-West" the Presidents of Azerbaijan, Georgia, Turkey and Kazakhstan are to sign political declaration, during solemn event of starting of oil pumping to pipeline Baku-Tbilisi-Ceyhan (BTC) in Baku 25 May.
18 May 2005 [21:22]

Azerbaijan needs $3 bln for provision with potable water

For realization of the project on provision by high quality potable water finances in amount of $1 bln are to be required.
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.