Azerbaijani state oil company SOCAR has commissioned a modern center for drilling waste management in Garadagh district of Baku. SOCAR President Rovnag Abdullayev, BP Regional President for Azerbaijan, Georgia and Turkey Gordon Birrell and representatives of SOCAR management took part in the opening ceremony. The total area of the center is 40 hectares with the…
Silk Way West Airlines opened direct cargo flights between Baku and the largest transportation hub in the United States – Chicago (Illinois). The first flight from Heydar Aliyev International Airport to O’Hare International Airport was carried out on September 18. Starting from October, regular transatlantic flights of Silk Way West Airlines on this route would…
Russian retailers and mobile operators are satisfied with the start of sales of Apple’s new iPhone 7 and 7 Plus on September 23, and demand is twice as much as it was a year ago for the previous model, spokespeople for sellers reported. “We’re happy with the results of first sales of the iPhone 7…
There is a chance that oil producing countries will reach an oil output freeze agreement in Algeria, Deputy Prime Minister Arkady Dvorkovich said. “We are holding a dialogue with our partners in OPEC and outside OPEC. The energy minister will discuss these issues with his colleagues in Algeria. We have already expressed earlier our readiness…
Last week Russian wheat decreased in price on the export market. 12.5% milling wheat price lost in average $2/MT. Prices were pressured by CBOT tendency as well as by continuing wheat ergot story with Egypt. Decline in prices was seen also in feed wheat market. Over the week export prices for feed decreased in Novorossiysk…
The oil price can fall to $30 per barrel over the next few years and can decrease further over a 20-year period, Alexei Kudrin, former finance minister and current head of the Center for Strategic Research, said. “After the oil price has fallen, the budget deficit will be 3.7% (of gross domestic product) this year…
Russia’s Finance Ministry and the Central Bank plan to present a draft of a new system of voluntary pension savings in the near future and the system may be launched from 2018, Minister Anton Siluanov said. Earlier, the government froze the accumulative part of pension savings for 2014 and 2015, and used 6% of citizens’…