Business

08 June 2006 [13:11]

Kazakhstan to join Azerbaijan-Turkey pipeline project in June

Kazakhstan is ready to sign an agreement on shipping crude across the Caspian Sea to a pipeline from Azerbaijan to a Turkey, the president of the energy-rich country said Thursday.
08 June 2006 [13:09]

Black Sea Business Day in Baku

The Black Sea Trade and Development Bank (BSTDB) will host Black Sea Business Day, on 12 June 2006, in Baku.
08 June 2006 [10:25]

Azerbaijan's oil revenues to reach $3 bln in 2006

Azerbaijan could make $3 billion in oil revenues in 2006 and may see the figure double in 2007, a major Western investor in the nation's oil industry said Wednesday.
08 June 2006 [10:18]

LUKoil plans oil output increase in north of Caspian

LUKoil has adopted a concept of the development of promising deposits in central and northern parts of the Caspian Sea, the company's chief Vagit Alekperov said.
08 June 2006 [10:12]

Final document on Kazakhstan oil transportation through BTC signed

The preparation of final intergovernmental document on transportation of Kazakhstan oil through Baku-Ceyhan pipeline via the area of Azerbaijan is over.
08 June 2006 [10:11]

Azerbaijani, Israeli energy ministers meet

The series of meetings between Azerbaijani officials and their visiting Israeli counterparts continued Wednesday at a confab with the energy ministers.
08 June 2006 [10:09]

Vahid Alakbarov: "$50 billion invested in Caspian oil and gas projects"

Caspian oil production increased twice and gas production did by 30%.
08 June 2006 [10:03]

Israel offers Azerbaijan to export oil to the Central East countries

Israeli Government expresses great hopes about perspectives of Baku-Tbilisi-Ceyhan pipeline, having been recently started.
08 June 2006 [10:03]

Azerbaijan will participate in international air show

An international air show opens on Thursday outside Kiev.
08 June 2006 [09:58]

Cooperation memorandum to be signed between ATBU and University of Architecture and Construction

Azerbaijani-Turkish Businessmen's Union (ATBU) and Azerbaijan University of Architecture and Construction will sign a cooperation memorandum.
08 June 2006 [09:53]

National Bank placed AZN15 million short-term bonds

An auction on placement of short-term bonds of National Bank with the state registration number 50102312S was held at Baku Stock Exchange yesterday.
08 June 2006 [09:35]

No increase in import taxes for automobiles this year

No increase is expected this year in import taxes for automobiles brought in Azerbaijan. The Chairman of the State Customs Committee (SCC) Aydin Aliyev has stated.
08 June 2006 [09:29]

AZN200 000 computer equipment handed over to customs authoritiesn Azerbaijan

The State Customs Committee (SCC) of the Azerbaijan Republic hosted a ceremony of handover of computer equipment for the Committee within the framework of the joint project of the European Commission (EC) and United Nations Development Program (UNDP) for "Modernization of Customs Services in Azerbaijan".
08 June 2006 [09:23]

Rovnag Abdullayev: "Azerbaijan to receive 3 bln cubic meters oil gas volume from AIOC in 2006"

Negotiations on the delivery of 3 billion cubic meters oil gas volume in 2006 between State Oil Company of the Azerbaijan Republic (SOCAR) and Azerbaijan International Operation Company (AIOC) is over.
08 June 2006 [09:20]

Azerenergy installs meters in 46 regional centers

OJSC Azerenergy will apply new method of meter installation in cities and regions of Azerbaijan. LLC Azerenergy Tikinti will install meters thereafter.
08 June 2006 [08:16]

Poultry farms blame State Veterinary Service for raised prices

Chicken and other poultry products might fall in price in a month or two, Head of the Republic Poultry Keepers Aydin Valiyev states.
07 June 2006 [16:17]

Iran may also join Baku-Ceyhan pipeline in the nearest future

Baku-Ceyhan pipeline may be used in order to export Iranian crude oil to world market in the nearest perspective.
07 June 2006 [15:45]

Natig Aliyev: "Azerbaijan will be known as natural gas exporting country"

850 million cubic meters natural gas capacity will be produced in Shahdeniz Project this year.
07 June 2006 [15:10]

Azerbaijan, Belarus leaders of industrial production in CIS

Azerbaijan and Belarus were ranked as leaders of industrial production among CIS member-countries in January-April 2006.
07 June 2006 [15:00]

Oil tower collapse injured two Azerbaijanis, one Indian

Today morning at 5.40 oil tower turned over in Mishovdag deposit of contractor "Momentum" Oil Company.
07 June 2006 [14:29]

All disagreements with Barmek to be notified by the Inspection Commission

The Inspection Commission to examine Limited Liability Company Barmek-Azerbaijan Energy Network compliance with its commitments has started gather complaints from businesses, enterprises and organizations, as well as legal entities and natural persons, in Azerbaijan.
07 June 2006 [14:06]

95th International Labor Conference in Geneva

The International Labor Organization (ILO) began its 95th Labor Conference in Swiss capital, Geneva June 6.
07 June 2006 [11:29]

$50 million loan agreement signed between IBAR and BNP Paribas Bank

International Bank of Azerbaijan (IBA) and the French bank BNP Paribas signed a $50 million loan agreement.
07 June 2006 [11:27]

Average BTC pipeline tariff will be $3-4 per barrel

The average Baku-Tbilisi-Ceyhan pipeline tariff will be $3-4 per barrel, Ilham Nassirov, Executive Director of "AZBTC Co," a firm representing Azerbaijan in this project, said.
07 June 2006 [08:50]

Gas payment coefficient in Azerbaijan increased twice

Gas payment coefficient in Azerbaijan reached 31% increasing twice in January-May this year.
07 June 2006 [08:27]

Matthew Bryza: "Trans Caspian gas transportation by competition is remarkable"

"Trans Caspian gas transportation by competition is possible and remarkable," Matthew Bryza, US Deputy Assistant Secretary for European and Eurasian Affairs, has told in his speech to the media.
07 June 2006 [08:12]

KFW project Manager Peter Brinkman to visit Baku today

Peter Brinkman, German Development Bank (KFW) Project Manager visits Azerbaijan.
07 June 2006 [08:09]

70% increase in tax revenues in Azerbaijan in January-May

Taxes revenue prognosis was implemented by 110,1% in Azerbaijan during January-May this year.
07 June 2006 [08:08]

Volume of currency transactions implemented in BICEX totaled $2,16 million

Pursuant to the results of the trading sessions held in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN average weighted rate was AZN 0,8982/$1.
07 June 2006 [07:27]

Israel negotiates oil purchase with Azerbaijan

Israeli Minister of National Infrastructures Binyamin Ben-Eliezer and Rovnag Abdullayev, the president of the Azerbaijani state oil company SOCAR, set oil purchase negotiations in motion on Tuesday during Ben-Eliezer's visit to the Caspian country.
07 June 2006 [07:14]

SOCAR had 6639 operational wells by June 1

Except for operational companies and joint-ventures, State Oil Company of the Azerbaijan Republic (SOCAR) had 6639 operational wells June 1.
06 June 2006 [22:46]

Mahmud Mammadguliyev: "Azerbaijan is willing to be accepted to WTO as developing country"

Azerbaijan wishes to get some years for passage period related to reforms in bank and insurance system after being accepted to membership of World Trade organization.
06 June 2006 [22:22]

Railroad traffic between Azerbaijan, Georgia available again

Railroad traffic between Azerbaijan and Georgia, interrupted on Monday as 15 of 34 tanks carrying fuel oil had come off the rail, was restored on Tuesday.
06 June 2006 [21:02]

BP-led group to pay Turkey's Botas 333 mln usd for pipeline cost overruns

The British Petroleum-led Baku-Tbilisi-Ceyhan Pipeline consortium said it will pay Turkey's Botas oil and gas company 333 mln usd for cost overruns in the Turkish section of the pipeline.
06 June 2006 [15:05]

Turan Morali: "No need of special security forces for BTC"

"Those stealing oil from Baku-Tbilisi-Ceyhan Main Export Pipeline (BTC) will be imprisoned. After imprisonment some of them, the others will give it up being afraid of," Ambassador of Turkey to Azerbaijan Turan Morali stated.
06 June 2006 [14:03]

Press conference on 13th International Oil and Gas Exhibition held

Press conference devoted to opening of the 13th international exhibition and conference "Caspian Oil and Gas Incorporating Refining and Petrochemicals" took place June 5 at the International Press Center.
06 June 2006 [13:38]

Azerbaijan oil sales to yield $140bln at $50 per barrel

Azerbaijan will receive $140 billion from oil sales in the next few years if the price of oil averages $50 per barrel, the president of the oil-rich Caucasus republic said Tuesday.
06 June 2006 [13:34]

Baku-Ceyhan second cargo expected around June 20

The second cargo from the BP-led Baku-Ceyhan oil pipeline will load around June 20 but the flow of oil will then be interrupted for 10 days for last-minute work on the terminal and the pipeline, a BP official said on Tuesday.
06 June 2006 [12:31]

Azerbaijan and Turkey can fund the Baku-Tbilisi-Akhalkalak-Kars railway project

Azerbaijan and Turkey can fund the Baku-Tbilisi-Akhalkalak-Kars railway line without foreign financial support, Turkish Ambassador to Azerbaijan Turan Morali stated.
06 June 2006 [12:15]

Caspian Oil & Gas exhibition opened in Azerbaijan

Caspian Oil & Gas International Exhibition, the 13th in a series of exhibitions and conferences devoted to hydrocarbon resource production in the Caspian Sea area, opened in Baku on Tuesday.
06 June 2006 [09:15]

Ukraine sold heavy armaments to Azerbaijan

Ukraine sold 25 T-72 tanks, 2 PDM-1 (armored carriers), 11 9A52 and 23 PM-38 artillery mounts to Azerbaijan in 2005.
06 June 2006 [08:38]

Volume of BICEX currency transactions totaled $60 thousand

Pursuant to the results of the trading sessions held in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN average weighted rate was AZN 0,8982/$1.
06 June 2006 [08:34]

0,4% gas deficit for CJSC Azerigas in May

540,78 million cubic meters gas instead of 538,55 million cubic meters was submitted to CJSC Azerigas in May this year. It was 99,6% of forecasted level.
06 June 2006 [08:32]

Kazakh Deputy Energy and Mineral Resources Minister visits Baku

Delegation of Kazakh Ministry of Energy and Mineral Resources headed by Lazzat Kiinov, Deputy Minister, will visit Azerbaijan in order to attend international exhibition conference Caspian Oil & Gas 2006, to be held in Baku June, 6-9.
06 June 2006 [08:28]

Polish National Oil and Gas Company officials visit Baku

Delegation of Polish National Oil and Gas Company representatives with two Vice-Presidents, Zenon Kukhchak and Stanislav Netbalech, at the head will visit Azerbaijan in order to attend international exhibition conference Caspian Oil & Gas 2006, to be held in Baku June, 6-9.
06 June 2006 [08:14]

British Trade and Industry Department Bureau Chief visits Baku

Ms. Joan McNotton, the Chief Director of International Energy Security Bureau at British Trade and Industry Department, will visit Azerbaijan in order to attend international exhibition conference Caspian Oil & Gas 2006, to be held in Baku June, 6-9.
06 June 2006 [08:09]

Main REPO agreement signed between 6 commercial banks

6 commercial banks in Azerbaijan have signed an interbank REPO agreement with "bank-bank" scheme in electron trade system at Baku Stock Exchange (BSE).
05 June 2006 [21:37]

First ship loads oil from new Caspian pipeline

BP, operator of the Baku-Tblisi-Ceyhan (BTC) pipeline, today announced that the first cargo of oil transported through the pipeline from Azerbaijan has been exported from the Ceyhan marine terminal on the Turkish Mediterranean coast.
05 June 2006 [20:27]

360 companies will participate in "Caspian Oil and Gas 2006" exhibition

XIII International Caspian Oil and Gas 2006 exhibition will be held on June 6-9 in Baku.
05 June 2006 [18:16]

Azerbaijan gas production up 37.5% in 5 mths

Azerbaijan produced 2.863 billion cubic meters of gas in January-May 2006, up 37.4% year-on-year.
05 June 2006 [18:04]

Iran first foreign car production line launches in Azerbaijan

Iran inaugurated its first car production line in Azerbaijan so to manufacture Samand.
05 June 2006 [13:36]

Second lot of Azerbaijani oil to be sent from Port Ceyhan in June

The second delivery of Azerbaijani oil (in the framework of Azeri-Chirag-Guneshli exploitation) with several tankers from Port Ceyhan is expected to be realized during June.
05 June 2006 [08:33]

Substantial changes will not be made to Tax Code

Next year substantial changes will not be made to Tax Code, Ministry of Tax informs.
05 June 2006 [08:14]

SOCAR President received BP-Azerbaijan company staff

State Oil Company of Azerbaijan Republic (SOCAR) President Rovnag Abdullayev has received the staff of BP-Azerbaijan company headed by David Woodward.
04 June 2006 [17:47]

Anglo Asian Mining's encouraging results at Gedabek

Press release by Anglo Asian Mining PLC.
04 June 2006 [17:43]

Iran-Khodro exports 530 buses to Azerbaijan

A contract for exports of 530 diesel-powered buses to Azerbaijan was signed in Baku Saturday, Iran-Khodro's public relations department reported.
03 June 2006 [13:57]

Azerbaijan exported 1.356.032 ton oil to the world market

SOCAR Marketing and Economic Operation Office exported 334.058 ton oil productions to world countries in May 2006.
03 June 2006 [13:39]

China's Huawei and Communications Ministry organize seminar

Ministry of Communication and Information Technology and China's Huawei company conducted "Telecommunication Network Transformation" seminar at the Park Inn Azerbaijan hotel, June 2.
03 June 2006 [12:41]

Heydar Babayev meets Iranian Minister of Industry

Minister of Economic Development of Azerbaijan Heydar Babayev on 2 June met with the visiting delegation of the Iranian Ministry of Industry and Mines led by Minister, Dr. Alireza Tahmasebi.
03 June 2006 [12:39]

Azdemiryolbank expands its cooperation with EBRD

Azerdemiryolbank is expanding its microfinance operations with the support of the European Bank for Reconstruction and Development (EBRD).
03 June 2006 [12:15]

Azeri section of Baku-Tblisi-Erzurum natural gas pipeline ready

Work is complete on the Azeri section of Baku-Tblisi-Erzurum (BTE) natural gas pipeline, and the first test for transportation is now under way.
03 June 2006 [10:12]

Criminal case against 20 furniture workshops

20 workshops are brought an action against due to Ecology and Natural Resources Ministry application to State Prosecutor's Office. Huseyn Baghirov, Ecology and Natural Resources Minister, has told the media about.
03 June 2006 [10:09]

OJSC AtaBank becomes member of Visa International payment system

The Directorate of an international payment system Visa International has made decision about promoting the status of Open Joint Stock Company (OJSC) AtaBank from associative to full membership.
03 June 2006 [09:52]

Minimum pension in Azerbaijan to make AZN55 by 2008

It is expected that minimum level of pensions will be reached to AZN55 for 2008.
03 June 2006 [09:47]

Today BICEX currency transactions' volume totaled $3,94 mln

Pursuant to the results of the trading sessions held in the currency section of the Baku Interbank Currency Exchange (BICEX) today, USD/AZN average weighted rate was AZN 0,8982/$1.
03 June 2006 [09:13]

Co-financing loan agreement between Bank Respublika and EBRD to be signed

A loan agreement in the framework of co-financing program between Joint-Stock Bank (JSB) Bank Respublika, Azerbaijan, and The European Bank for Reconstruction and Development (EBRD) may be signed in the next month.
03 June 2006 [09:10]

Improtex Marine & Facilities importing new products to Azerbaijan

Improtex Marine & Facilities, Azerbaijan, has recently imported new products to Azerbaijan.
02 June 2006 [22:12]

BOS Shelf workers staged protest action on Friday

Trade Union Committee (TUC) of the BOS Shelf Company in Azerbaijan today organized a protest action of workers at work today.
02 June 2006 [21:57]

Turkey loads first oil from Caspian pipeline onto tanker for Western markets

The first shipment of Caspian Sea oil from a newly-built pipeline in Turkey was loaded onto a tanker destined for Western markets Friday.
02 June 2006 [12:18]

Georgia hosts conference on economic policy in South Caucasus

A two-day conference dedicated to economic policy in South Caucasian countries and the strategic role of the International Monetary Fund (IMF) starts in the National Bank of Georgia on Thursday.
02 June 2006 [09:18]

The Times: "Price cut hopes as Azerbaijan oil comes on stream"

On Friday, crude oil from Azerbaijan is being loaded on to a British vessel on the Turkish Mediterranean coast, a test cargo that inaugurates BP's $4 billion (?2.1 billion) Baku-Tbilisi-Ceyhan (BTC) pipeline, a vital piece of energy infrastructure that will deliver 1 million barrels per day of high quality oil into the Mediterranean.
02 June 2006 [08:43]

ECO Islamic countries to establish International Blue Card System

Economic Cooperation Organization (ECO) Islamic member countries intend to create International Blue Card System.
02 June 2006 [08:27]

The Black Sea Trade and Development Bank to run business days in Baku

The Black Sea Trade and Development Bank (BSTDB) will run business days in Baku June 11-12. The organizer is Azerbaijan Export and Investment Promotion Foundation (AzPromo).
02 June 2006 [08:25]

New Bank of Baku branches opened

JSCB Bank of Baku has today opened its new three branches. This action is realized in the framework of "Increasing the Quality of Services for Clients" Program.
02 June 2006 [08:23]

UN experts forecast 6,3% economic growth rate for 2006 in CIS area

UN experts have drawn out the report for 2006 on Economic trends, as well as risks and opportunities, for the economies in the Economic Commission for Europe region.