Business

14 July 2009 [13:33]

Iraq promised to fill up Nabucco by half from 2005: Financial Times

Iraqi Prime Minister Nouri al-Maliki promised that his country will fill up Nabucco by half from 2015 by supplying 15 billion cubic meters of gas per year, The Financial Times said.
13 July 2009 [14:32]

Azerbaijan issues total of 50 mortgage loans in first decade of July

Total of 50 Azerbaijani citizens were issued mortgage loans worth 2.56 million manat in the first decade of July.
13 July 2009 [13:55]

Azerbaijan fully supports Nabucco gas pipeline project: minister

"Azerbaijan fully supports the Nabucco gas pipeline project and everything related to it."
13 July 2009 [13:49]

Nabucco deal signed in Ankara (UPDATE)

The Nabucco participant countries signed inter-governmental agreement in Ankara on July 13.
13 July 2009 [13:39]

Turkish prime minister invites Russia, Iran to join Nabucco

"Iranian gas can be transported to Europe via Nabucco pipeline, if there would be acceptable conditions for this."
13 July 2009 [12:10]

Direct Yekaterinburg-Ganja flight to be launched

Ural Airlines will open flight from Yekaterinburg to Ganja (Azerbaijan) starting from August 8.
13 July 2009 [11:58]

Azerbaijani MP: I am doubtful about soonest realization of Nabucco project

“The direction of the Nabucco gas pipeline is the major problem for the pipeline."
13 July 2009 [11:26]

Turkey still likely to get a share of Nabucco gas: energy minister

Turkish Energy and Natural Resources Minister Taner Yildiz denied Sunday reports that Turkey gave up its right to receive 15 percent of the natural gas supplied via the Nabucco pipeline, saying the country is likely to get a larger share instead, Xinhua reported.
13 July 2009 [11:08]

Russia's aggravating relations with Ukraine, Turkmenistan to give push to construction of Nabucco: ESAI

Russia's aggravating relations with Ukraine and Turkmenistan will give push to construction of Nabucco gas pipeline, Energy Security Analysis analyst Andrew Reed said.
13 July 2009 [09:39]

Russia free to supply gas to Nabucco : U.S. envoy

Russia is free to supply gas to the Nabucco pipeline.
13 July 2009 [09:26]

Iraq lacks surplus gas for Nabucco gas pipeline project

Iraq does not possess surplus gas to pump via the Nabucco gas pipeline, Spokesperson for the Iraqi government Ali al-Dabbagh said.
11 July 2009 [10:45]

SOCAR ups oil exports via Baku-Novorossiysk in Q1

SOCAR Marketing and Economic Operations Department exported nearly 1.229 million tons of oil via Baku-Novorossiysk in January-June 2009.
11 July 2009 [09:33]

European Commission hails agreement on Nabucco gas pipeline project

European Commission President Jose Manuel Barroso on Friday hailed an agreement to be signed by Turkey and four European Union member states on a gas pipeline project as crucial for EU's energy security, Xinhua reported.
11 July 2009 [09:22]

Georgian president to attend Nabucco accord signing ceremony

Georgian President Mikhail Saakashvili will attend Nabucco accord signing ceremony on July 13 as a part of his two-day visit to Ankara, Business Georgia reported.
11 July 2009 [09:07]

Nabucco project can count on Turkmen gas

President Gurbangulu Berdimuhammedov for the first time announced possibility of gas supply for the Nabucco pipeline project by Turkmenistan.
10 July 2009 [17:14]

Turkey, Azerbaijan discuss prices for natural gas, field development

Turkey and Azerbaijan discussed prices for natural gas and development of fields.
10 July 2009 [14:58]

Average price on one square meters of area in Baku newly-built buildings released

Estate Market Participants public union has released results of the monitoring into the first housing market conducted in June 2009.
10 July 2009 [14:39]

Azerbaijani parliament may adopt Customs Code in autumn

Azerbaijani parliament may adopt Customs Code in the autumn session, State Customs Committee First Deputy Chairman Asgar Abdullayev said.
10 July 2009 [13:30]

Deputy FM: Azerbaijan should enter WTO as developing country

Azerbaijan plans to enter the World Trade Organization with status of developing country, Azerbaijani Deputy Foreign Minister Mahmud Mammadguliyev said in Geneva at a final meeting of the working group on Azerbaijan’s WTO admission.
10 July 2009 [10:59]

Azerbaijan ready for long-term partnership with Turkmenistan: SOCAR

Azerbaijan is prepared to establish long-term business contacts with Turkmen partners, SOCAR President Rovnag Abdullayev said at a meeting with Turkmen President Gurbangulu Berdimuhammedov.
10 July 2009 [10:48]

Azerbaijan to be major supplier for Nabucco gas pipeline

Azerbaijan, Iraq and Egypt will become the main suppliers to the EU-backed Nabucco gas pipeline, delivering 15 billion cubic meters of gas per year from 2015, Wolfgang Ruttenstorfer, Chief Executive of the Austria’s OMV, member of Nabucco Gas Pipeline International GmbH consortiumm, said.
10 July 2009 [10:34]

Syria to buy 1 billion cubic meters of Azerbaijani gas per year

Syrian President Bashar al-Assad said at the Azerbaijan-Syria business forum in Baku that Syria will buy Azerbaijani gas.
10 July 2009 [09:43]

Rise in world oil prices

World oil prices increased slightly on July 9 on the backdrop of weak demand in large economies.
10 July 2009 [08:44]

Azerbaijan’s industry and energy minister meets UAE foreign minister

Azerbaijani Industry and Energy Minister Natig Aliyev has met with the UAE Foreign Minister Abdullah bin Zayed al Nahyan.
09 July 2009 [16:42]

No need to up bread prices in Azerbaijan: consumer market control agency

“State Agency for Control over Consumer Market at the Azerbaijani Economic Development Ministry monitors prices on consumer market twice a week.,” head of the agency Zahid Isayev said.
09 July 2009 [14:06]

Azerbaijani Association of Travel Agencies designs proposals to cancel VAT for travel companies

Azerbaijani Association of Tourism Agencies is preparing package of proposals to cancel VAT for tourism companies.
09 July 2009 [11:23]

Azerbaijan refines over 2.9 million tons of oil in Q1

Azerbaijan’s oil refineries produced 2.983 million tons of oil in January-June 2009, according to the SOCAR.
09 July 2009 [08:35]

French Total stops work in Azerbaijan

Total, French oil company, has stopped activity in Azerbaijan.
08 July 2009 [16:30]

Gas transit to Armenia via Georgia suspended

Gas supply to Armenia was suspended on July 8.
08 July 2009 [15:07]

SOCAR Trading aims to increase SOCAR competitiveness on world markets: SOCAR official

Trend Capital interview with SOCAR Marketing and Economic Operations Department (MEOD) Director General Tofig Gahramanov.
08 July 2009 [13:45]

Azerbaijan toughens control over imports of Chinese subquality children’s toys

Azerbaijani State Committee for Standardization, Metrology and Patents has appealed all governmental agencies to toughen control over imports of Chinese subquality children’s toys which are harmful for health.
08 July 2009 [12:06]

Nearly 60 hotels shut down in Azerbaijan

Nearly 60 hotels operating without license have been shut down in Azerbaijan.
08 July 2009 [11:43]

Azerbaijan is bearing of peace and stability in Caucasus: Russian president's ex-special envoy to Caspian region

Presently, the Caspian Sea represents great interest from the point of view of energy issues for many nations, including Russia.
08 July 2009 [10:39]

Oil prices fall for sixth consecutive days

Oil prices keep on falling for the sixth consecutive days on backdrop of rise in gasoline reserves in the U.S. and fall in stock markets, Bloomberg reported.
08 July 2009 [09:22]

Average interest rate on physical persons’ deposits hits 12 percent in Azerbaijan

As of June 1, 2009, average interest rate on physical persons’ deposits in national currency reached 12 percent, Azerbaijani Central Bank said.
07 July 2009 [17:58]

Azerbaijan and European Union reach aviation deal

Azerbaijan and European Union (EU) signed an agreement on cooperation in the field of aviation, which enables EU air companies to organize flights to Azerbaijan, APA-ECONOMICS reports.
07 July 2009 [15:25]

Belarus, Azerbaijan to deepen economic cooperation

Belarus Prime Minister Sergei Sidorski will pay one-day visit to Baku to discuss prospects of economic cooperation, the Azerbaijani government said.
07 July 2009 [13:40]

Average price on non-residential facilities in Baku released

Participants of the Estate Market public union completed the monitoring into situation in the market of non-residential facilities conducted in June in Baku.
07 July 2009 [10:30]

Azerbaijan generated nearly 10.1 billion kilowatt hour of energy in Q1, 2009

Azerenerji has generated nearly 1.3 billion kilowatt hours of energy in June 2009.
04 July 2009 [10:53]

Turkish ambassador: Turkish investments to Azerbaijan hit $6 billion

Total investments in Azerbaijani economy by Turkey has reached $6 billion.
03 July 2009 [17:05]

Azerbaijan ready for energy security cooperation with EU

Azerbaijan is ready for real cooperation in energy security with EU countries, including Romania, Azerbaijani energy minister Natiq Aliyev said at the meeting with Romania's minister of economy Adrian Videanu on July 3.
03 July 2009 [16:27]

Azerbaijan only CIS country with growth in commercial production

According to the CIS Inter-Governmental Statistics Committee, Azerbaijan is the only CIS member state with growth of commercial production which totals 1.3 percent.
03 July 2009 [16:12]

Intergovernmental accord for Nabucco gas pipeline project will be signed on July 13

Intergovernmental accord for the Nabucco gas pipeline will be signed on July 13, Romania's Economy Minister sai. Novosti Azerbaijan quoted Reuters as saying.
03 July 2009 [15:13]

Head of Baku Metro: Fees for travel will not be increased

Though value of a travel in Baku Metro is 0.65 manat with the current tariff totalling 0.05 manat, the fees will not be increased.
03 July 2009 [12:04]

SOCAR launches new ship

The State Oil Company of Azerbaijan Republic (SOCAR) launched a supply vessel Caspian Server, built by BUE Caspian Alliance in the Norwegian Simek Plant on July 3.
03 July 2009 [12:02]

Saudi Arabia issues loan to Azerbaijan to up expand water supply, sewerage system

Saudi Arabia has issued $25 million in loan for Azerbaijan to restore and expand water supply and sewerage system in Azerbaijan’s Absheron peninsula.
03 July 2009 [11:30]

Power supply for nearly 600 customers cut off in Baku

Bakielektrikshebeke [energy distributor in capital] spokesperson Tanriverdi Mustafayev told Day.az.
03 July 2009 [10:58]

Azerenerji: We have not appealed Tariff Council to up cost of electricity for consumers

Azerenerji: We have not appealed Tariff Council to up cost of electricity for consumers.
03 July 2009 [10:42]

OPEC forecasts increase in Azerbaijani oil supplies

OPEC forecasts the growth of Azerbaijani oil supplies to 1 million barrels per day in the fourth quarter of 2009. Supplies will hit 960,000 barrels a day in the third quarter of 2009, according to forecasts.
03 July 2009 [10:39]

Azerbaijan to play key role in energy deliveries to Europe: RWE vice-president

Azerbaijan will play an important role in providing future energy supplies to Europe, Vice-President of the German company on development of fields Manfred Dworatzek said at the opening ceremony of the RWE Baku office.
03 July 2009 [10:13]

World oil prices fall considerably

World oil prices significantly dropped on July 2 against the backdrop of disappointing reports on the labor market in the United States, which could hamper the process of rebuilding the world economy.
03 July 2009 [09:14]

Merger of Azerigaz with SOCAR aims to normalize exports: SOCAR president

Azerbaijani President’s decree on elimination of Azerigaz and transfering it to the SOCAR ownership aims to up efficiency of gas transport and gas supply in country’s regions.
02 July 2009 [17:49]

BSEC deputy foreign ministers likely to meet in Baku

BSEC deputy foreign ministers are likely to meet in Baku this month. Novosti Azerbaijan quoted organization’s Web site as saying.
02 July 2009 [15:15]

Implementation of Eastern Partnership program delayed

European Union delays implementation of the Eastern Partnership program, Sweden’s Prime Minister Fredrik Reinfeldt said.
02 July 2009 [14:05]

Turkey-Greece-Italy pipeline is symbol of cooperation in region: Greek FM

The Turkey-Greece-Italy (TGI) gas pipeline, intended to diversify energy deliveries to Europe is a symbol of cooperation in the region, Greek Foreign Minister Dora Bakoyannis said.
02 July 2009 [11:02]

Caspian area to play significant role in ensuring security of gas deliveries to Europe: Interview with Eurogas President

President of Eurogas Domenico Dispenza spoke with Trend Capital in an exclusive interview.
02 July 2009 [10:35]

Romanian economy minister arrives in Baku

A delegation headed by Romanian economy minister is paying an official visit to Azerbaijan, according to AzerTac.
02 July 2009 [10:24]

Bank of Azerbaijan grants first mortgage loan after renewal

Azerbaijani Bank of Azerbaijan granted mortgage loan this week for the first time since the moment of renewal of mortgage loan program, the bank said.
02 July 2009 [09:39]

Azerbaijan is an attractive country for France to make investments in: President of Azerbaijan

President of Azerbaijan Ilham Aliyev has today received French ambassadors accredited in CIS countries.
02 July 2009 [07:59]

Ukrainian President’s special representative Bogdan Sokolovsky: SOCAR may be one of the most important players in the oil market of the world

“Official Kiev continues talks with SOCAR to import oil products to Ukraine,” Ukrainian President’s special representative on energy issues Bogdan Sokolovsky told journalists, APA’s correspondent reports from Kiev.
01 July 2009 [12:44]

One more French energy giant takes stake in Azerbaijan gas project

French energy giant GDF Suez S.A. announced on Tuesday it had acquired a 20 percent stake in the exploration, development and production sharing agreement for the Absheron offshore block in the Azerbaijani sector of the Caspian Sea.
01 July 2009 [08:56]

Azerbaijan satisfied with gas price Russia will pay

Azerbaijan’s state oil company SOCAR signed an agreement to sell gas to Gazprom, beginning with a relatively modest 500 million cubic meters per year from January 1, 2010, with supplies expected to increase in the future, said Rovnag Abdullayev, President of SOCAR.
27 June 2009 [09:43]

EU, Turkey optimistic about Nabucco agreement

Turkish and European Union officials said on Friday they were optimistic agreement could be reached soon on bringing Turkey into the planned Nabucco gas pipeline project.
25 June 2009 [17:08]

International Azerbaijan Investment Summit to take place in London

With support from Azerbaijan’s embassy in the UK, Adam Smith Conferences will be holding the 1st International Azerbaijan Investment Summit in London from December 8th -10th 2009.
25 June 2009 [09:01]

Kuwaiti Prime Minister to visit Azerbaijan

Azerbaijan and Kuwait are willing to enhance economic cooperation.
24 June 2009 [12:00]

Nabucco gas pipeline is important project in terms of energy diversification: interview with U.S. Department of State special envoy for Eurasian Energy

The U.S. Department of State Special Envoy for Eurasian Energy Richard Morningstar spoke in an exclusive interview with Trend News.
24 June 2009 [09:14]

Richard Morningstar: USA not against South Stream and Nabucco

The United States do not give preferences to any pipeline project - either Nabucco or South Stream, said US special envoy on energy issues in Eurasian region Richard Morningstar Tuesday.
23 June 2009 [17:13]

Azerbaijan-China business forum to be held in Baku

Azerbaijan-China business forum has been organized in Baku by the Chinese federation of industrialists and tradesmen and Azerbaijan Entrepreneurs Confederation.
23 June 2009 [08:39]

Direct air communication to be established between Baku, Odessa

Donbassaero company (Donetsk) intends to open a regular Odessa-Baku flight from June 26.
20 June 2009 [11:41]

Development of non-oil sector represents future of Azerbaijan despite great significance of oil factor in economy: minister

Azerbaijan foresees its future in use of oil profit to develop non-oil sector of economy despite oil factor plays big role, minister of economic development Shain Mustafayev said.