Economy

SOCAR Polymer tested polypropylene production for the first time

01.03.2018 | Readed: 478

On February 27, SOCAR Polymer Plant produced the first polypropylene product for demonstration and testing purposes, with the participation of SOCAR President Rovnag Abdullayev and......

EBRD to support capacity building of Asian stocks slide, dollar hits six-week high as Powell revives Fed rate fears

01.03.2018 | Readed: 455

The European Bank for Reconstruction and Development (EBRD) will provide technical assistance to further development of the Energy Regulatory Agency of Azerbaijan, EBRD Press Secretary for Eastern Europe, Caucasus and Central Asia Anton Usov told......

Azerbaijan's AGBank opens subscription to new issue of shares

27.02.2018 | Readed: 473

Azerbaijan's AGBank opened a subscription to a new issue of shares, the bank said in a message Feb. 26. Trend.az reAGBank is increasing its authorized capital worth seven million manats by issuing 3.5......

Azerbaijani currency rates for Feb. 26

26.02.2018 | Readed: 561

The official exchange rate of US dollar and euro to Azerbaijani manat for Feb. 26 was set at 1.7001 manats and 2.0932 manats, respectively. Below are the rates of Azerbaijani manat against world......

European Central Bank's net profit up in 2017

24.02.2018 | Readed: 731

Bank's net profit rose to €1.3B last year, up around 7 pct from 2016. The European Central Bank's (ECB) net profit rose by nearly 7 percent year-on-year to reach €1.3 billion ($1.47 billion) in......

Azerbaijan International Travel and Tourism Fair to be held in April

23.02.2018 | Readed: 799

The 17th Azerbaijan International Travel and Tourism Fair, AITF 2018 will be held at Baku Expo Centre from April 5-7. For many years now, the exhibition has remained relevant and has kept......

Azerbaijan’s economy to grow 2% in 2019

23.02.2018 | Readed: 750

Economic growth in Azerbaijan will make up 1.5% in 2018, 2% in 2019, Moody’s reported. ‘According to preliminary estimates, Azerbaijan's economy expanded 0.1% in 2017 we expect that inflation......

Southern Gas Corridor to turn Italy into gas center of Europe

22.02.2018 | Readed: 656

Azerbaijan is an important supplier of oil to a number of European countries, including Italy, and after the implementation of the project, the Southern Gas Corridor will become a supplier of natural gas, Azerbaijani Ambassador to Italy Mammad Ahmedzade......

Azerbaijan’s insurance market grows

22.02.2018 | Readed: 474

Azerbaijan’s insurance companies collected premiums worth 82.76 million manats in January 2018 that is by 17.02 percent more than in the same period last year, according to a report of the country’s Financial Market Supervisory Authority......

SOCAR signs agreement on exploration of gas fields in Bangladesh

22.02.2018 | Readed: 459

Azerbaijan’s SOCAR-AQS LLC and Bangladesh Petroleum Exploration and Production Сompany Ltd. (BAPEX, a subsidiary of Bangladesh Oil, Gas and Mineral Corporation (PETROBANGLA) signed a memorandum of understanding on joint participation in new......

Amman hosts 3rd meeting of Azerbaijan-Jordan Intergovernmental Commission

22.02.2018 | Readed: 393

The third meeting of the Azerbaijani-Jordanian intergovernmental commission for trade, economic and technical cooperation was held in......

Turkish minister : BTK railway’s construction contributed to the creation of the most important transport corridor in the region

21.02.2018 | Readed: 411

The Baku-Tbilisi-Kars (BTK) railway contributes to the development of the region, said Ahmet Arslan, Turkish minister of transport, maritime affairs and communications, according to the message of the ministry, Trend......

OPEC poised to further regulate prices amid higher output concern

21.02.2018 | Readed: 404

OPEC and its non-OPEC allies, all financially embattled, will continue to regulate prices, Gal Luft, the co-director of the Washington-based Institute for the Analysis of Global Security, told......

Kazakhstan increases grain exports twofold

21.02.2018 | Readed: 390

The volume of Kazakhstan’s grain exports in January 2018 amounted to 830,000 tons and exceeded the volume of grain export in December 2017, as well as the volume of January 2017. Trend.az reports, that......

TAP Presents Project Update at the Athens Energy Forum

21.02.2018 | Readed: 401

The Trans Adriatic Pipeline (TAP) AG Country Manager for Greece, Katerina Papalexandri, presented the project's progress at the annual Athens Energy Forum organised on 15-16 February......

Oil markets mixed on lower Canadian flows, firmer dollar

20.02.2018 | Readed: 398

Oil markets were split on Tuesday, with US crude was pushed up by reduced flows from Canada while international Brent prices eased, Reuters reports. US West Texas Intermediate (WTI) crude futures were at......

Azerbaijan-Turkmenistan joint working group discusses energy cooperation in Baku

20.02.2018 | Readed: 414

On February 19, 2018, Baku hosted the first meeting of the joint working group on the future development of energy cooperation between the Government of the Republic of Azerbaijan and the Government of Turkmenistan on the basis of the......

SOCAR signs agreement on exploration of gas fields in Bangladesh

20.02.2018 | Readed: 382

Azerbaijan’s SOCAR-AQS LLC and Bangladesh Petroleum Exploration and Production Сompany Ltd. (BAPEX, a subsidiary of Bangladesh Oil, Gas and Mineral Corporation (PETROBANGLA) signed a memorandum of understanding on joint participation in new gas......

Azerbaijan seeks Pak’s support for hosting Expo 2025

20.02.2018 | Readed: 358

 “Azerbaijan seeks Pak’s support for hosting Expo 2025” article was published in Pakistan media, “Pakistan today” newspaper. According to “Pakistan today”,  Azerbaijan’s......

ECO discusses new Kabul-Tehran-Istanbul transit corridor

19.02.2018 | Readed: 345

An Afghan trade official has said that the members of Economic Cooperation Organization (ECO) have agreed on creating Kabul-Tehran-Istanbul transportation corridor. Trend.az reports, that the head of the......

Azerbaijani oil price exceeds $ 66/barrel

19.02.2018 | Readed: 351

The price for Azeri LT CIF put for sale in world markets went up by $ 0,94 or 1,44%. Report informs that the price of AZERI LT CIF now makes $......

Azerbaijan reveals planned investments in new industrial zone

17.02.2018 | Readed: 870

The planned value of investments in Azerbaijan’s Hajigabul industrial zone will amount to 43 million manats, Deputy Economy Minister Niyazi Safarov said. Trend.az reports, that he made the remarks at a......

American ExxonMobil becomes shareholder of BTC oil pipe

17.02.2018 | Readed: 875

American oil company ExxonMobil became a shareholder of BTC Co., which manages the Baku-Tbilisi-Ceyhan oil pipeline, reads BP's report on the results of activities in Azerbaijan in 2017. Trend.az reports,......

Montenegro relies on SOCAR’s experience in gas supply – economy minister

16.02.2018 | Readed: 830

Montenegro relies on the experience of Azerbaijan’s state oil company SOCAR in gas supply, Minister of Economy of Montenegro Dragica Sekulic said in an interview with Trend. "SOCAR’s experience......

Azerbaijan’s Finance Ministry to auction manat bonds

16.02.2018 | Readed: 825

An auction for placement of 35 million manats worth medium-term bonds of Azerbaijan’s Ministry of Finance will be held at the Baku Stock Exchange (BSE) Feb. 20, the BSE said Feb. 16. Trend.az......

SOCAR Balkans, Albgaz sign letter of intent

16.02.2018 | Readed: 397

Azerbaijan`s SOCAR Balkans and Albanian Albgaz have today signed a letter of......

TANAP to be launched in July

15.02.2018 | Readed: 502

Trans-Anatolian Pipeline will be launched in July 2018, Turkish Minister of Energy and Natural Resources Berat Albayrak said at the 4th Ministerial Meeting of the Southern Gas Corridor (SGC) Advisory......

Sefcovic: “We all stand to gain from Southern Gas Corridor”

15.02.2018 | Readed: 416

The Southern Gas Corridor has a strategic importance for the European energy security, especially in the most vulnerable parts of Europe, such as South-East Europe and Southern Italy, European Commission Vice-President for Energy Union Maros Sefcovic......

BP and its partners invest more than $69 billion in projects in Azerbaijan

14.02.2018 | Readed: 520

“BP and its partners invested more than $69 billion in projects in Azerbaijan over the past 25 years,” BP vice president for communications, external affairs, strategy & region......

VP: Number of passengers transported by AZAL growing every year

13.02.2018 | Readed: 571

The number of passengers transported by Azerbaijan Airlines CJSC (AZAL) is growing every year, Eldar Hajiyev, AZAL vice president, said. Trend.az reports, that Hajiyev made the remarks at the conference......

More than 500 containers transported via Baku-Tbilisi-Kars railway so far

10.02.2018 | Readed: 844

“More than 500 containers have been transported via the Baku-Tbilisi-Kars (BTK) railway so far,” said chairman of Azerbaijan Railways CJSC Javid......

Another success of Azerbaijan's civil aviation: ASEC opened at Heydar Aliyev International Airport

09.02.2018 | Readed: 811

An official opening of Azerbaijan Airspace Supervision & Efficiency Center (ASEC) took place at Heydar Aliyev International Airport on February......

U.S. growth could slip in coming two years

08.02.2018 | Readed: 791

Economic growth in the United States may peak this year and could slow in the coming two years, Dallas Fed President Robert S. Kaplan told a business conference in Frankfurt on......

Azerbaijani manat’s average rate for Feb. 9

08.02.2018 | Readed: 751

The Central Bank of Azerbaijan (CBA) has announced the average rate of the Azerbaijani manat against the US dollar at 1.7001 AZN/USD after a currency auction held Feb. 8. Trend reports, that the currency......

Albanian Minister: TAP project is already in intensive stage of implementation

08.02.2018 | Readed: 568

At a time when the TAP project is already in the intensive stage of implementation, we are working closely with the neighboring countries to make a reality with the IAP, Minister of......

Azerbaijan’s State Oil Fund assets exceeds USD 35.8 billion

08.02.2018 | Readed: 562

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the year 2017 amounted to 12.137.5 million manats, while budget expenditures constituted 11. 015.5 million......

Azerbaijan’s Economy Minister meets with heads of Turkish, Georgian and Kazakh delegations

07.02.2018 | Readed: 469

Azerbaijan’s Minister of Economy has held several meetings with the heads of Turkish, Georgian and Kazakh delegations on the sidelines of an international conference on the role of the......

KazPrime indicator value for Feb. 5

05.02.2018 | Readed: 602

The KazPrime indicator did not change on February 5, 2018, compared to the previous trading day and remains at 10.75 percent per annum, Kazakh stock exchange said in a message. Trend.az reports, that......

Fitch forecasts Azerbaijan's manat rate to remain stable for next two years

05.02.2018 | Readed: 581

Fitch expects the Azerbaijani currency to remain broadly unchanged over the coming two years, based on stable oil price assumptions, a report by Fitch Ratings......

SOCAR, Maire Technimont ink contract on modernization of Baku Refinery

02.02.2018 | Readed: 740

Azerbaijan’s state oil company SOCAR has signed an EPC (engineering, procurement and construction) with Italy’s Maire Tecnimont for the construction of new facilities as part of the......

Azeri Light oil price increased $71

02.02.2018 | Readed: 710

Oil prices continue to rise on the world markets. The price of a barrel of Azeri Light crude oil increased......

Azerbaijan to sign MoUs in energy sector

01.02.2018 | Readed: 727

Azerbaijan plans to sign Memorandums of Understanding (MoU) with six countries on energy, oil and gas and electric power......


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