Azerbaijan’s state oil company SOCAR will produce over 7,660 tons of oil annually through commissioning a new well at the offshore Oil Rocks field, SOCAR said in a message. Oil is extracted from a wellbore within the range of 1,205-1,187 meters. SOCAR is implementing a program to stabilize and increase oil output. The company produced…
Turkey’s Foreign Minister Mevlut Cavusoglu has offered to connect the Turkish Stream pipeline, which is being developed by Russia, to the Trans-Anatolian Natural Gas Pipeline (TANAP), via which Azerbaijani gas will be delivered to Europe in 2020. Cavusoglu said Ankara would buy only 16 billion cubic meters of Russian gas per year via the Turkish…
American Chamber of Commerce in Azerbaijan (AmCham) welcomes Azerbaijani president’s order dated August 4, “On improvement of tax administration and approval of directions of reforms in taxation in 2016”. “We are glad to see that a number of recommendations to improve tax administration and simplify doing business in the country, proposed to the Azerbaijani government…
Companies controlled by Belarus’ petrochemical industries concern Belneftekhim produced a $339 million foreign trade surplus in January-June, Belneftekhim said in a release. In physical terms, petrochemical exports remained unchanged year on year in H1 2016. In value terms, exports of chemical and petrochemical products have dropped by more than $1 billion due to the drop…
Ukrainian grain business pays more and more attention to the latest information technologies and their role in competitiveness improvement on the global market. Information on grain quality, reputation of supplier/country of origin becomes the main factor of competitiveness and securing a foothold in markets. The new approach to market data interpretation will provide the expansion…
Discounts for Russia’s gas supplies to Turkey may become one of the issues discussed during the official visit of Turkish President to St. Petersburg. “During the visit of Turkish President Recep Tayyip Erdogan to Russia, Moscow and Ankara may discuss the discount for Russian gas delivered to the country”, a source in the ministry said,…
Seoul’s aerospace research institute confirmed that the Russian Angara-1.2 carrier rocket would put the South Korean KOMPSAT-6 satellite, also known as the Arirang 6, into orbit in 2020. Earlier this month, Roscosmos space corporation said in a statement that the KOMPSAT-6 multipurpose satellite would be launched using Russia’s Angara-1.2. “The ILS Angara 1.2 vehicle was…