Business

10 April 2006 [15:37]

Azeri oil market: results of week

From 3 through 7 March AZERI LT average price, sold by Azerbaijan in Supsa and Novorossiysk port, was $66.86 per barrel or $2.48 per barrel down as compared to the previous week.
10 April 2006 [15:02]

Ministry of Industry and Energy reveals rise in price of liquefied gas

In the course of investigation conducted by the Ministry of Industry and Energy to reveal the illegal increase of liquefied gas prices at the filling stations, it was discovered that some of them sold the gas at 20-24 gepig per 1 liter.
10 April 2006 [14:27]

President Aliyev meets with head of EBRD

On Monday Ilham Aliyev, the Azerbaijani President, has received Jean Lemierre, the President of the European Bank of Reconstruction and Development (EBRD).
10 April 2006 [14:10]

Bulla-Deniz surpasses oil extraction forecasts on 15, 8%

6.786 tons of oil from 38 exploitation wells have been extracted by the oil-gas extracting company Bulla-Deniz this March, this is in 15, 2% more than it was previously forecasted.
10 April 2006 [13:11]

Foundation of new power station in Azerbaijan

The work on foundation carried out at new module power station in the Shaki region.
10 April 2006 [11:16]

Azeronline slashes web costs for Azercell users

Internet provider Azeronline has reduced the cost of its web services provided to the post-paid subscribers of Azerbaijan's leading cellular provider, Azercell Telecom.
10 April 2006 [09:26]

Turan Company signs $200 thousand contract on sale of 5 trucks

Turan Company concluded contract with the Azerbaijani representation of the Murphy International Company of Great Britain on selling two MAZ (Minsk Car Factory) marked trucks to the latter.
10 April 2006 [08:41]

Rovnag Abdullayev receives European Commission Deputy Head of External Affairs

President of State Oil Company of (SOCAR) Rovnag Abdullayev received the delegation led by European Commission Deputy Head of External Affairs Fokion Fotiadis.
10 April 2006 [08:30]

SOCAR President meets with Piotr Wozniak

The State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev received the delegation led by Polish Economy Minister Piotr Wozniak.
09 April 2006 [21:38]

Iran-Armenia gas pipeline to be operational Dec. 2006

The first phase of Iran-Armenia gas export pipeline is expected to kick off in early December 2006, technical and foreign relations director of Armenia Energy Ministry Leon Vartanian announced on Sunday.
08 April 2006 [17:13]

Elmar Mammadyarov: "Azerbaijan plans to offer natural gas on European market"

Azerbaijani Foreign Minister Elmar Mammadyarov said his country planned to enter European natural gas markets in the future.
08 April 2006 [08:55]

Foreign companies working in occupied lands to be taken to international court

"Azerbaijan ensured Canada R.V.Investment Company with rights to operate gold deposits in Azerbaijan. What makes us surprise is that the company has not defended its rights so far. We expected the R.V. Investment to exercise its full rights and appeal to the international courts within a short period of time to prevent illegal exploitation of gold deposits in the occupied territories of Azerbaijan," the Minister of Ecology and Natural Resources Huseyn Baghirov told journalists.
08 April 2006 [07:18]

CATEL installed CDMA station in Mingechevir

The Joint Venture CATEL completed installation of the CDMA (Code Division Multiple Access) wireless communication main station in Mingechevir.
08 April 2006 [07:13]

WB mission in Azerbaijan

The senior economists of the World Bank (WB) Christian Petersen and Christos Kostopulos, and director of the poverty reduction and economic management sector in Europe and Central Asia Sherol Gray visited Baku.
08 April 2006 [07:07]

510.07 million cubic metres of gas surrendered in March

In March of the current year, 510.07 million cubic metres was surrendered to the Azerigas Close Joint-Stock Company (CJSC) instead of 486.68 million cubic metres of the plan and the forecast was overfulfilled 4.8%.
07 April 2006 [16:16]

Azeri-Turkish business forum in Istanbul

Azerbaijani-Turkish business forum will be held in Istanbul April 1 under the organization of the Association of Azerbaijani-Turkish Businessmen (AATB), the Entrepreneurship Development Department of the Azerbaijani Ministry of Economic Development, AzPromo in the cooperation with Istanbul Trade Chamber and Istanbul Industry Chamber.
07 April 2006 [13:44]

Microsoft translates Windows XP into Azeri

Microsoft has announced the beginning of the first stage of the MS Windows XP localization for Azerbaijan.
07 April 2006 [10:59]

Poultry farms to fix same price for fowl and egg sold in the country

Poultry farms in Azerbaijan have agreed to fix same price on fowl and egg sold in the whole country.
07 April 2006 [10:19]

Azeronline Company reduced Internet tariffs for Azercell subscribers

Azeronline Company founded by the Joint Venture (JV) Azercell Telecom reduced the price of the Internet package given to postpaid subscribers of JV.
07 April 2006 [10:08]

Azerbaijani Advertising Union: "The level of advertisement on TV, newspapers is very low"

Today President of Azerbaijani Advertising Union Hajiami Atakishiyev has held a press conference dedicated to 40th congress of International Advertisement Unity.
07 April 2006 [09:54]

Fuzuli Alakbarov: "We have paid all our debts to pensioners"

Ministry of Labor and Social Protection of the Population has paid all the allowance of the people for the past months.
07 April 2006 [09:49]

Last year 114 companies established with participation of Turkish capital

Last year 114 companies were established in Azerbaijan with participation of Turkish capital.
07 April 2006 [09:29]

Internet provider for regions started activity

The Transeurocom provider company started rendering Internet services in the regions of Azerbaijan.
07 April 2006 [09:26]

In March about 110 mln kWh of electricity entered power network of Nakhchivan AR

In March of the current year, about 110 million kWh of electricity entered the power network of the Autonomous Republic of Nakhchivan.
07 April 2006 [09:17]

Samir Sharifov: "The Turkish BOTASH Company must complete the project and should not raise claims"

April 13, meeting of the Board of Directors of the BTC CO. Company will take place in Baku.
06 April 2006 [23:29]

The court did not change verdict about Barmek

The appeal of the Barmek-Azerbaijan Vice President, Omar Gunel to change the court's decision on keeping him in custody was rejected, the presiding judge Alim Namazov told.
06 April 2006 [23:07]

BP to start the third advance bore at Western Azeri

BP has launched the third advance bore at Western Azeri, BP informs. The daily oil extraction debit has reached 60,000 barrels.
06 April 2006 [22:42]

Communication Ministry puts new post office into exploitation

The Ministry of Connection and IT has put new post office into exploitation.
06 April 2006 [14:51]

Azerbaijan offers rules for EITI countries

Azerbaijan has out an issue on selection of minimal standards, which could really distinguish the countries implementing the Extractive Industry Transparency Initiative (EITI) from those which only imitate it, the head of the commission on implementation of the EITI, also the Executive Director of the State Oil Fund of Azerbaijan (SOFAR), stated to a news conference titled "EITI: experience of pilot countries".
06 April 2006 [14:25]

Funds allocating from public budget to Azeri armed forces reaches $600m

The funds allocating from the public budget to the Azerbaijani Armed Forces has increased from $170m to $600m, Khanlar Valiyev, the Military Prosecutor stated at news conference April 6.
06 April 2006 [14:00]

High growth of GDP in Azerbaijan to continue in 2006

Presentation of a report on Perspectives of economic development and Asian region, developed by the leading specialists of Honk-Gong was held at the headquarters of the Asian Development Bank (ADB).
06 April 2006 [12:59]

Conference on Sumgayit enterprises' role in strong industry potential to be held

The conference "Role of Sumgayit enterprises in establishment of strong industry potential" will be held in Sumgayit on April 12 at the initiative of the Azerbaijani Ministry of Industry and Energy and the Sumgayit Executive Power.
06 April 2006 [12:38]

Azeri oil prices change differently

The price for AZERI LT CIF on April 5 was $66.66 per barrel (rose $0.76 per barrel against the previous price). Density of Azeri Light is 34.6 degrees by API, sulphur content is 0.14%.
06 April 2006 [12:08]

Poultry fair to be held in Baku

Poultry product fair will be held in Baku April 9 under the organization of the Azerbaijani Ministry of Economic Development and the Poultry Keeping Society.
06 April 2006 [11:29]

AIOC's gas output more than doubles

The Azerbaijan International Operating Company (AIOC) produced 678.1 million cubic meters of gas from Azerbaijan's major Azeri-Chirag-Gunashli offshore fields in January-March 2006, or 2.6 times over the same period of last year.
06 April 2006 [09:50]

Parliament speaker receives chief inspector and auditor of the British National Audit Office

Azerbaijan's parliament speaker Ogtay Asadov today received the delegation led by John Bourn, the chief inspector and auditor of the British National Audit Office.
06 April 2006 [09:20]

Antimonopoly Policy Department: "We already have the list of substandard cellular phone sellers"

The Antimonopoly Policy Department of the Ministry of Economic Development plans to complete the monitoring of the cellular phone market on April 10.
06 April 2006 [09:07]

In March Azerenergy produced 5% more electricity

In March of the current year, about 2,324 billion kWh of electricity was produced in the Azerenergy system and it exceeds the same indicator of preceding March by 5%.
06 April 2006 [08:54]

In March Ministry of Taxes started 18 criminal cases on tax evasion

The Tax Crimes Preliminary Investigation Department under the Ministry of Taxes started 18 criminal cases on tax evasion and illegal entrepreneurship facts in March.
06 April 2006 [08:31]

Prospects and challenges ahead of Azerbaijan's WTO admission

Prospects for Azerbaijan's joining the World Trade Organization (WTO) and economic development were in focus at the event, "The World Trade Network and Azerbaijan", in Baku on Wednesday.
05 April 2006 [20:44]

President Aliyev receives chief inspector & auditor of British National Audit Office

Ilham Aliyev, the Azerbaijani President, received the delegation led by John Bourn, the chief inspector and auditor of the British National Audit Office.
05 April 2006 [20:26]

Milli Majlis to hear the Accountancy Chamber report

The Accountancy Chamber report will be heard at the Milli Majlis next hearing.
05 April 2006 [20:22]

Azerbaijan produced over 2 mln of oil in Q1 2006

Azerbaijan's State Oil Company said Wednesday it had produced 2.2162 million tons (16.29 million bbl) of oil in the first quarter of 2006, the same as in Q1 2005.
05 April 2006 [16:07]

Natig Aliyev participated in Black Sea Energy Conference

The recently completed Black Sea Energy Conference, hosted in Bucharest by Romania's Chamber of Commerce and Industry, discussed various energy-related themes and presented energy projects for the Black Sea area in the near future, along with existing opportunities and challenges to the Black Sea energy markets.
05 April 2006 [16:03]

Krasnoye Sormovo Plant launches oil tanker "Koroglu"

After launching the tanker will be completed and put under mooring tests. The customer will receive it in summer 2006.
05 April 2006 [15:54]

Kazakhstani Majilis approved draft law ratifying Kazakh-Azerbaijan accord

At today's plenary session of Kazakhstani Majilis (Lower Chamber of Parliament) it approved draft law "On ratification of Protocol on amendments to agreement between governments of the Republic of Kazakhstan and Azerbaijan on free trade as of June 10, 1997".
05 April 2006 [15:51]

Senior Chinese legislator meets Azerbaijani guests

Delegation of Yeni Azerbaijan Party is on the visit to the PRC.
05 April 2006 [15:14]

Samir Sharifov: "Companies joining EITI to grow in number"

The companies involved in the gold mining industry are also expected to join the Extractive Industry Transparency Initiative (EITI) in Azerbaijan, Samir Sharifov, the Executive Director of the State Oil Fund of Azerbaijan (SOFAR) told journalists.
05 April 2006 [14:13]

Liberalization of trade regime - one of key terms for Azerbaijan to enter WTO

Presentation "World trading system and Azerbaijan" was held in Baku April 5.
05 April 2006 [13:00]

Manat gains ground against USD

The Baku Interbank Currency Exchange (BICEX) has defined the list of banks - leading operators of foreign currency exchange market in March 2006.
05 April 2006 [10:48]

Azerbaijan delegation visits UAE

A high level business delegation from the Ministry of Culture and Tourism of Azerbaijan held talks with business and industry representatives of Ras Al Khaimah, to consolidate trade and business co-operation between Azerbaijan and RAK, especially in the fields of tourism and industry.
05 April 2006 [09:55]

4th meeting of International consultation group on EITI starts in Baku

The fourth meeting of the International consultation group of the Extractive Industry Transparency Initiative (EITI) started in Baku on Wednesday.
05 April 2006 [08:17]

Azerbaijan intends to discuss financial debt to Turkmenistan

The Ministry of Finance invited the Turkmenian part to Baku for continuation of negotiations on Azerbaijan's debt to Turkmenistan.
05 April 2006 [08:10]

German Development Bank to improve water supply of Ganja

Extraordinary and plenipotentiary Ambassador of Germany to Azerbaijan Detlef Lingemann has started his visit to western regions of Azerbaijan.
05 April 2006 [08:01]

Agricultural mission of WB came for ten-day visit

The agricultural mission of the World Bank (WB) visited Baku yesterday.
05 April 2006 [07:56]

Total volume of bank deposits in Azerbaijan increased by 6.93%

Total volume of savings and deposits attracted by banks operating in Azerbaijan made up AZN 1377.3 million by March 1 of the current year.
05 April 2006 [07:39]

SOCAR's activities in March

In March of the current year, 399 thousand 417 tons of oil was transported by means of the Baku-Novorossiysk pipeline. SOCAR transported 60 thousand 455 tons and AIOC 338 thousand 962 tons.
04 April 2006 [19:21]

Azerbaijan, Turkey and Georgia to take an active part in Kars-Tbilisi-Baku project

"The Azerbaijani-Turkish relationship is on the highest level," President stated after negotiations with Ahmad Nejded Sezer, the Turkish President, who is on official visit to Baku.
04 April 2006 [18:49]

Turkish businessmen put $2.2bn in Azerbaijan

Turkish businessmen have invested $2.2bn in the Azerbaijani economy, Turkish President Ahmet Nejdet Sezer stated April 4.
04 April 2006 [18:34]

Gas turbine power station in Nakhchivan AR to be commissioned in April

Etibar Pirverdiyev, the President of Azerenerji JSC, has visited the Nakhchivan Autonomous Republic (AR) to get familiar with the course of the construction of the 40-MW gas turbine power station and the implementation of the project on construction of the module station in the republic.
04 April 2006 [15:33]

SOCAR commissions 4 new wells

In the 1st quarter Bibieybat OGPU of the State Oil Company of Azerbaijan (SOCAR) produced 31,690 tons of oil with forecasted 30,650 tons of oil.
04 April 2006 [15:30]

Poland's Economy Minister Piotr Wozniak to visit Baku on Wednesday

A large delegation led by the Economy Minister of Poland, head of the Azerbaijan-Poland Intergovernmental Economic Commission, Piotr Wozniak will arrive in Baku tomorrow at the invitation of the Azerbaijani Minister for Economic Development Heydar Babayev.
04 April 2006 [11:24]

Armenian lobby in the USA against Kars-Akhalkalaki railway

The Turkish company Yuksel Domonik has elaborated upon their technical and economic plan for the construction of the Kars-Akhalkalaki railway - a 98 kilometer project which is estimated to cost between USD 350-450 million.
04 April 2006 [09:11]

AtaAcademy reported on works implemented since beginning of year

AtaAcademy operating under the AtaHolding Open Joint-Stock Company staged press-conference.
04 April 2006 [09:06]

MBask Insurance Company refused ineffective portfolio

Evaluation of financial efficiency of each operation has been started to be introduced in the MBask Insurance Company.
04 April 2006 [02:16]

4.9 million hectares kept in state ownership

Last year under the land reforms 4.9 million hectares (56.9%) of the single land supply was kept in state ownership, 2 million hectares (23.5%) transmitted to municipal ownership and 1.7 million hectares (19.6%) privatized.
04 April 2006 [02:06]

Huseyn Arabul to inform Turkish President about problems of Barmek

The President of the Barmek Azerbaijan Electricity Network Limited Liability Company (LLC) Huseyn Arabul will inform the President of Turkey Ahmad Nejdet Sezer of the problems the Company has been facing recently in Azerbaijan.
04 April 2006 [01:59]

"Management of Borders" project implemented in Azerbaijan

In the nearest two months European Commission will start implementation of the project "Management of Borders" in Azerbaijan.
03 April 2006 [22:58]

Oil being stolen from Baku-Supsa pipeline

Georgian police have discovered the theft of oil from the Baku-Supsa pipeline.
03 April 2006 [15:54]

Czech request for Viktor Kozeny's extradition only follows after U.S.

The Bahamian authorities will only decide about the Czech request to have Irish financier of Czech extraction Viktor Kozeny extradited after they settle the same request by the USA, Justice Minister Pavel Nemec and his deputy Roman Polasek told journalists.
03 April 2006 [15:20]

Azeri energy minister attends BSEC energy conference

Natik Aliyev, the Azerbaijani Minister for Industry and Energy, is currently attending the Black Sea Energy Conference, which started in Bucharest, Romania, on 3 April and will last till 5 April.
03 April 2006 [15:18]

SRD head to participate at the meeting of the railway operators from CIS and Baltic

The head of the State Railroad Department (SRD) of Azerbaijan, Arif Askerov will head the Azerbaijani delegation at the meeting of the 43rd international forum of the Railroad Transport Council of CIS and Baltic countries that is to be held in Tallinn (Estonia).
03 April 2006 [15:10]

Azeri oil market: results of week

From 27 through 31 March AZERI LT average price, sold by Azerbaijan in Novorossiysk port, was $64.38 per barrel or $1.52 per barrel down as compared to the previous week.
03 April 2006 [14:51]

Heydar Babayev: "One-figure infiltration indicator disprove Dutch Syndrome in Azerbaijan"

Next meeting of Tariff Council will be held soon.