Business

10 June 2009 [11:09]

Azerbaijan interested in energy security: Deputy Foreign Minister

Azerbaijan interested in providing energy security, Deputy Foreign Minister Araz Azimov said at an "Energy security: challenges and new opportunities" workshop.
10 June 2009 [09:19]

Andris Piebalgs: SOCAR has a diversified supply portfolio

Interview Day.Az with Energy Commissioner EU Andris Piebalgs
09 June 2009 [14:57]

Automated system of railway ticket sale applied in Ganja, Azerbaijan

The automated system of railway tickets sale will be applied in Ganja on June 15, said spokesman of the Azerbaijan Railway Company Nadir Azmamedov.
09 June 2009 [13:10]

Big Russian telecommunication company considering possible purchase of stocks in Azerbaijan

Russian mobile operator MTC is considering possible purchase of assets in Azerbaijan and Kazakhstan, said chief executive of the company Mikhail Shamolin, according to the Azerbaijan Ministry of Communication and Information Technologies.
08 June 2009 [11:03]

Works to prepare feasibility study of Transcaspian project might be held later this year

Works to prepare the feasibility study of the Transcaspian project might be launched in the second half of 2009, according to the president of National company Kazmunaugaz Kayrgeldi Kabildin.
08 June 2009 [09:26]

SOCAR exports over 99.5 thousand tons of motor gasoline in January-May

In January-May of 2009 the department of marketing and economic operations of the State Oil Company of Azerbaijan exported 99.541 tons of motor gasoline, said the press service for SOCAR, according to Novosti-Azerbaijan.
08 June 2009 [09:03]

Caspian Shipping company receives Shusha tanker

The Krasnoye Sormovo shipyard in Nizhni Novgorod (Russia) has recently launched tanker of project 19619 for the Azerbaijan State Caspian Shipping Company into the sea, reports the press service for the MNP group (that includes the Krasnoye Sormovo shipyard).
06 June 2009 [10:27]

Azerbaijan-Kazakhstan cooperation predetermined for many years: ambassador

Kazakhstan and Azerbaijan are strategic partners and the co-operation between countries is predetermined for many years, Ambassador of Azerbaijan to Kazakhstan Latif Gandilov said in an interview with Trend News.
05 June 2009 [11:30]

Azerbaijan's investment opportunities represented in London

Azerbaijan's investment opportunities have been represented in London based International Centre of Financial Services.
05 June 2009 [09:40]

Azerbaijan doubts about professionalism of Transparency International's report on corruption

Chairman of the Azerbaijani Parliamentary Committee on Legal Policy and State Building Ali Huseynov doubts about professionalism of a report on corruption designed by the international organization Transparency International.
05 June 2009 [09:28]

Intergovernmental agreement on Nabucco project might be signed in coming weeks

The intergovernmental agreement on the Nabucco project might be signed in coming weeks, said project general director Reinhard Mitchek at a conference "Caspian Oil and Gas 2009" in Baku.
05 June 2009 [09:00]

SOCAR vice president says construction of 1-2 more platforms at Shah Deniz well expedient

"I think it would be expedient to construct one or two more platforms for the safe development of the Shah Deniz field, said SOCAR first vice president Khoshbakht Yusifzade.
04 June 2009 [13:41]

All neighboring countries proposed to obtain all volumes of gas from Shah Deniz II: SOCAR vice president

About 8 billion cubic meters of the 27 billion cubic meters to be produced in Azerbaijan this year will be exported, SOCAR Vice president for Investments and Marketing Elshad Nasirov said at a conference Oil&Gas 2009 in Baku.
04 June 2009 [13:14]

Deputy Minister of Communication and Information Technologies: Work is held for sharp reduction of internet tariffs in Azerbaijan

Work is held for the sharp reduction in Internet tariffs in Azerbaijan, said deputy Minister of Communication and Information Technologies Iltimas Mamedov.
04 June 2009 [12:59]

Moscow to host conference of business circles of Russia and Azerbaijan

Moscow will host a conference of the business circles of Russia and Azerbaijan, said trade representative of Russia in Azerbaijan Yuri Shedrin at a press conference Thursday, according to Novosti-Azerbaijan.
04 June 2009 [12:39]

Iranian national gas company official: We can create conditions for export of Azerbaijani gas to Turkey via Iran

"We can assist Azerbaijan in exporting gas to Turkey, said Seyid Rza Huseyni, director on planning of the national gas company of Iran, attending the Baku-hosted international exhibition.
04 June 2009 [11:44]

1421 foreigners get permission to work in Azerbaijan this year

1421 foreigners got individual permission to work in Azerbaijan in January-May of 2009, said chief of department of migration at Azerbaijan's Ministry of Labor and Social Protection Rauf Taghiyev.
03 June 2009 [17:29]

Representatives of Egyptian delegation familiarize with Azerbaijan's tourism potential

Officials of the Egypt Ministry of Tourism, tourism firms and media representatives familiarized with the tourism potential of Azerbaijan under steering support of the Ministry of Culture and Tourism as well as the Azerbaijani embassy to Egypt, reports Day.Az with reference to the Ministry of Culture and Tourism.
03 June 2009 [17:06]

Nabucco is an immature project yet: Minister

Azerbaijan is currently holding negotiations regarding routes of gas to be produced from Shah Deniz field in several directions, according to Minister of Industry and Energy of Azerbaijan Natig Aliyev.
03 June 2009 [16:24]

Nearly 150 million tons of oil and 34 billion cubic meters of gas were produced in Azerbaijan in 1997-2008: SOCAR president

Azerbaijan plans to produce about 50 million tons of oil in 2009 compared to 44.5 million tons in 2008, SOCAR President Rovnag Abdullayev said.
03 June 2009 [16:12]

Azerbaijan has potential to export 30bln cu.m of gas within 30 years: president of StatoilHyidro Azerbaijan

Azerbaijan has potential to export 30 billion cubic meters of gas per year within 30 years as part of the South Energy Corridor, i.e. new direction of fuel deliveries, President of StatoilHyidro Azerbaijan Christian Hausken said on June 3.
03 June 2009 [13:41]

IAEA to hold next discussions on project to construct nuclear reactor in Azerbaijan

The International Atomic Energy Agency (IAEA) will start negotiating on construction of a nuclear reactor in Baku.
03 June 2009 [13:29]

Azerbaijan studies Hungary’s e-auction system experience

The delegation of the Ministry of Taxes of Azerbaijan has conducted exchange of experience with the Administration of Tax & Financial Control of Hungary.
03 June 2009 [11:22]

SOCAR to build own filling stations in Azerbaijan

The State Oil Company of the Azerbaijan Republic (SOCAR) will build own filling stations in the country, SOCAR high ranking official said on June 3.
03 June 2009 [10:50]

Azerbaijan not to change tariff on pumping oil via Baku-Novorossiysk pipeline: minister

Azerbaijan will not change tariff on pumping the Azerbaijani oil via the Baku-Novorossiysk pipeline, how it was earlier offered by Russia, Azerbaijani Industry and Energy Minister Natiq Aliyev said at the "Oil&Gas 2009" conference on June 3.
03 June 2009 [10:44]

Industry and Energy Minister: By 2015-2020-Azerbaijan will produce 40 bln cu m of gas, while maximal oil production will hit 65 mln tons

By 2015-2020-Azerbaijan will produce 40 bln cu m of gas, while maximal oil production will hit 65 mln tons, Minister of Industry and Energy of Azerbaijan Natik Aliyev.
03 June 2009 [09:17]

Azerbaijan to invite Iran to negotiations on Caspian status: deputy minister

Azerbaijan intends to invite Iran to the negotiations on determining the legal status of the Caspian.
03 June 2009 [09:05]

Contract of the Century partners offer to prolong agreement with Azerbaijan

Foreign oil firms involved in the Azeri-Chirag-Gunashli (ACG) Project in the Azerbaijan sector of the Caspian Sea in accordance with the so-called Contract of the Century offer to prolong the 30-year agreement signed in 1994, said Shahmar Movsumov, Executive Director of the State Oil Fund of Azerbaijan (SOFAZ).
03 June 2009 [09:03]

Prospects for economic and banking cooperation of Azerbaijan and Great Britain discussed

Chairman of the Board of the Central Bank of Azerbaijan Elman Rustamov and the United Kingdom Prince Andrew, Duke of York discussed economic cooperation between the two countries, the Central Bank said on June 2.
03 June 2009 [09:00]

Azerbaijan's oil production to reach 45 million tons, gas production to 25-27 billion cubic meters in 2009: President Aliyev

Azerbaijan's oil production will total around 45 million tons and gas production 27 billion cubic meters, Azerbaijani President Ilham Aliyev stated in his opening remarks to the annual 16th International Caspian Oil and Gas Exhibition, Incorporating Refining and Petrochemicals on June 2.
02 June 2009 [16:26]

Baku Stock Exchange decides to release Mortgage Fund's bonds of commission payments

Baku Stock Exchange Management Board has decided to unilaterally release secured bonds of the Azerbaijan Mortgage Fund from commissions at its session on June 1.
02 June 2009 [16:11]

Baku Stock Exchange starts transition to a new trading system

Baku Stock Exchange starts two-week trainings for the representatives of brokerage firms on transition to the new trading system. Today the specialists of BSE Trading Department made presentation about new trading system and held practical workshop in trading hall.
02 June 2009 [15:56]

Azerbaijani delegation participates at session of Ministers of Railway Cooperation Organization

Astana hosts the 35th Session of the meeting of Ministers of the Organization of Railways Cooperation, according to the press service for the Azerbaijan State Railway Company.
02 June 2009 [13:27]

Baku Airlines' decision to stop night flights not to affect ticket costs: AZAL

The decision to stop night flights at the Heydar Aliyev International Airport will not affect ticket costs, head of the state concern AZAL Jahangir Askerov told journalists.
02 June 2009 [11:05]

Nabucco gas pipeline to play great role in European energy security: Georgian prime minister

Nabucco gas pipeline project will play a great role in the European energy security, Georgian Prime Minister Nika Gilauri said.
02 June 2009 [10:56]

Azerbaijan is becoming a strong energy leader in region: U.S. special envoy

Azerbaijan is becoming a strong energy leader in the region and can contribute to European energy security, U.S. Special Envoy for Eurasian Energy Richard Morningstar said at opening ceremony of the annual 16th International Caspian Oil and Gas Exhibition, Incorporating Refining and Petrochemicals on June 2.
02 June 2009 [10:46]

Barack Obama: Azerbaijan will find a strong friend and partner in the United States

Find below the letter of US President Barack Obama read out by US special envoy on Eurasian energy Richard Morningstar Tuesday at the opening ceremony of the Sixteenth International Caspian Oil and Gas Exhibition and Conference in Baku:
02 June 2009 [10:15]

Baku-Nakhchivan-Istanbul flight suspended

Baku-Nakhchivan-Istanbul-Baku flight operated by Azerbaijan Airlines has been suspended. Nakhchivan International Airport told APA’s local bureau that few number of passengers caused this.
02 June 2009 [08:50]

Barack Obama sends message to Azerbaijani President - UPDATED

Azerbaijani President Ilham Aliyev has met a delegation under the leadership of Special US Envoy on Energy Issues in Eurasia Richard Morningstar, Azertag state information agency reported.
02 June 2009 [08:48]

Richard Morningstar: The United States supports all projects envisaging delivery of the hydrocarbon resources of the Caspian to the world markets

U.S. Special Envoy for Eurasian Energy Richard Morningstar met with the members of the US-Azerbaijan Chamber of Commerce in Baku, APA reports.
02 June 2009 [08:44]

USA stands ready to assist Azerbaijan in delivering hydrocarbons: U.S. special envoy

The involvement of the United States in energy issues is important not only for the energy security of America, but also for the energy security of each country, said the U.S. Special Envoy for Eurasian Energy Richard Morningstar, who is on visit to Baku.
01 June 2009 [16:39]

SOCAR stands ready to involve foreign participant to Azerbaijan's major gas project

The State Oil Company of the Azerbaijan Republic (SOCAR) informed the French Total, which is the operator of the Absheron project, about its agreement to involve the Gaz de France SUEZ (GDF/SUEZ) company to the joint exploration of the largest gas field.
01 June 2009 [16:34]

New oil contract signed in Azerbaijan

The State Oil Company of the Azerbaijan Republic (SOCAR) and Dubai DB Petroleum signed a PSA contract on rehabilitation and exploration of the Buzovna-Mashtaga field in Baku, SOCAR reported on June 1.
01 June 2009 [14:54]

Iran to build tractor plant in Azerbaijan

Iran intends to build tractor plant in Azerbaijan, Iran's Urmiya Tractor Plant Director International Affairs Hasan Allahverdizade said over telephone from Urmiya.
01 June 2009 [13:44]

Georgian Prime Minister leaves for Baku

A two-day visit of Georgian delegation led by Prime Minister of Georgia Nikoloz Gilauri to Baku, Azerbaijan, started Monday. The Premier will participate in the 16th international conference on oil and gas from the Caspian fields.
01 June 2009 [13:05]

Military events to be held in line with plans signed by Azerbaijan with US, Turkey, Bulgaria and Germany

In accordance with the bilateral cooperation plan signed between Azerbaijan and the US, workshop on the bases of communication will start in Baku today, Defense Ministry’s press service told APA.
01 June 2009 [13:00]

Production of liquid hydrocarbon to hit 1mln barrel per day in Azerbaijan next year: EIA

The U.S. Energy Information Agency (EIA) forecasts the production of liquid hydrocarbon will hit 1.1 million barrel per day in Azerbaijan the next year.
01 June 2009 [11:08]

SOCAR completes construction of platform as a part of large gas project

The State Oil Company of Azerbaijan (SOCAR) has completed construction of new Umid-1 platform on the Umid perspective field, the company said.
01 June 2009 [09:30]

Russia ready to submit proposals on construction of nuclear power plant in Azerbaijan

Russia is ready to submit its proposals to Baku on the construction of a nuclear power plant in Azerbaijan, said Russian Deputy Minister of Energy Vyacheslav Sinyugin, Novosti-Azerbaijan reports with reference to ANS.
30 May 2009 [13:09]

Russia to unite energy systems of Azerbaijan, Russia and Iran: Azerenergy head

The Russian side will launch operations within synchronization project of energy systems of Azerbaijan, Iran and Russia in the nearest future, Azerenergy JSC (production and sale of power energy in Azerbaijan) head said.
30 May 2009 [12:54]

SOFAZ chief executive receives delegation headed by chief of administration of Tambov district of Russia

SOFAZ chief executive Shahmar Movsumov received a delegation headed by the Head of Administration of the Tambov district of Russia Oleg Betin, reports Day.Az with reference to the press service of for the State Oil Fund.
30 May 2009 [09:38]

Azerbaijani and Russian telecommunication companies establish joint venture

Russian CJSC Synterra and PU Aztelekom (the state communication operator) signed the agreement on joint venture establishment rendering telecommunication services for third countries, Russian energy minister Sergei Shmatko said at the press-conference in Baku.
30 May 2009 [09:28]

Russia offers Azerbaijan new agreement on oil transport via its territory

Azerbaijan and Russia will hold consultations regarding expediency of designing and signing new inter-governmental agreement on transport of Azerbaijani oil via Russia, Russian Energy Minister Sergey Shmatko said after meeting of the joint inter-governmental commission on economic cooperation in Baku.
30 May 2009 [09:17]

Bilateral relations between Azerbaijan and Russia in energy field are developing successfully: President of Azerbaijan

President of Azerbaijan Ilham Aliyev has today received Russian Minister of Energy, Chairman of the CIS Power Industry Council Sergei Shamko and his accompanying delegation.
30 May 2009 [08:58]

Azerbaijan’s parliament approves 2008 state budget performance report

The relative stabilization of economic situation in Azerbaijan still does not give reason to the Government to veg out, said Elman Rustamov, Chairman of the Central Bank, at the parliamentary discussion on the 2008 state budget performance report.
30 May 2009 [08:55]

Total of 18 Azerbaijani enterprises provided with new radio frequencies

The State Commission on Radio frequencies has allocated new frequencies to 18 companies and organizations operating in Azerbaijan.
29 May 2009 [16:43]

U.S. ups export of Azerbaijani oil

In January-March 2009, the United States imported about 4.6 million barrels of oil from Azerbaijan, compared to 4.4 million barrels in the same period of 2008, the U.S. Energy Information Agency (EIA) said.
29 May 2009 [16:35]

SOCAR provides electricity to its offshore platforms

SOCAR (State Oil Company of Azerbaijan) completed construction of two marine electricity transmission lines in length of 1.5 kilometers, which allowed to supply electricity to two platforms on large offshore oil and gas field Oil Rocks, SOCAR reported on May 29.
29 May 2009 [14:23]

Azerbaijan, Turkey willing to reach agreement on cost of gas in early June: ambassador

Azerbaijani and Turkish officials plan to reach agreement to increase cost of Azerbaijani gas exported to Turkey during talks as a part of the Caspian Oil and Gas 2009 exhibition and conference to be held in Baku on June 2-5, Turkish ambassador to Azerbaijan Hulusi Kilij said.
29 May 2009 [12:59]

Azerbaijani oil prices rise on May 28

On May 28, the price of AZERI LT CIF Augusta was $65.75 per barrel, or $2.24 per barrel more compared to the previous day's price, according to the State Oil Company of Azerbaijan (SOCAR), which has produced Light Oil since 1997.
29 May 2009 [12:47]

U.S. ready to support Azerbaijan in joining WTO

The United States is ready to support Azerbaijan in joining the World Trade Organization (WTO), head of the U.S. Embassy in Azerbaijan Public Relations Department Terry Davidson said at the opening of an international student program "Students in free enterprise."
29 May 2009 [11:57]

Azerbaijani youth must be more active in strengthening country's economy: minister

Azerbaijani Minister of Youth and Sport Azad Rahimov called on youth to participate more actively in strengthening the country's economy.
29 May 2009 [11:55]

Parallel work of Azerbaijani, Russian power grids is important for both countries: minister

A parallel work of the power grids of Azerbaijan and Russia is very important for both countries, in particular for providing of Russia's south with energy, Russian Energy Minister Sergey Shmatko told a 35th meeting of the CIS Electric Power Council in Baku.
29 May 2009 [11:37]

Azerbaijan has turned into an electric power exporter within a short period: minister

Azerbaijan could ensure its power security and turned from importer to exporter of electricity in a short period of time.
27 May 2009 [17:51]

Azerbaijani Energy Ministry launches new fines on gas consumption

Azerbaijani Industry and Energy Ministry Public Gas Control Office started the application of changes made to the administrative code to increase fines for violating the requirements of the legislation in the sphere of gas, heat and electricity, head of the Office Asif Zeynalov said.
27 May 2009 [14:11]

Azerbaijan, Latvia to review opportunities to develop relations: Ambassador

Priority issues of cooperation between Azerbaijan and Latvia will be discussed during the official visit by Latvian President Valdis Zatlers to Baku in mid-July, Azerbaijani Ambassador to this Baltic country Tofig Zulfugarov told Trend News on Wednesday.
27 May 2009 [12:50]

Azerbaijan coordinates GSM channels in territories bordered with Iran

Azerbaijan coordinates GSM channels in the territories bordered with Iran, the state radio frequencies department at the Azerbaijani Communications and Information Technology (IT) said.
27 May 2009 [10:49]

Azerbaijani tourists actively book place in foreign resorts despite financial crisis

Azerbaijani tourists do not cut the demand for overseas travel due to the global financial and economic crisis, Head of Azerbaijani Culture and Tourism Ministry Tourism Department Aydin Ismiyev said on May 26.
27 May 2009 [10:46]

Considerable funds not yet allocated to build Georgian section of Baku-Tbilisi-Kars railway: SOFAZ head

The State Oil Fund of Azerbaijan (SOFAZ) has not yet allocated significant funds to construct the Georgian section of the Baku-Tbilisi-Kars railway this year, SOFAZ Executive Director Shahmar Movsumov said.
27 May 2009 [10:24]

Repair work in Old City to be authorized only by State Historical and Architectural Reserve Office

Repair work in Icherisheher (Old City) can be authorized only by State Historical and Architectural Reserve Office under the Cabinet of Ministers.
27 May 2009 [09:47]

Russia to prevent interference of non-Caspian states in ensuring border security in the Caspian Sea

Russia will prevent interference of non-Caspian states in ensuring the border security in the Caspian Sea, despite such attempts by some states.