National air carriers of Azerbaijan and Turkey are satisfied with the level of the current cooperation and intend to further expand it, said the Vice President of Azerbaijan Airlines CJSC (AZAL) Eldar Hajiyev. AZAL and Turkish Airlines have been carrying out flights under a code-sharing agreement for two years, said Hajiyev. “This allowed for further…
OPEC expects Azerbaijan’s oil supply to average 0.85 million barrels per day (bpd) in 2016, down by 10,000 bpd YoY, the cartel said in its monthly oil market report. The forecast remained unchanged as compared to the previous monthly oil market report. Azerbaijan’s oil output decreased by 10,000 bpd to average 0.86 million bpd in…
Daily oil production in Azerbaijan will be 0.85 million barrels in 2016 and 0.81 million barrels in 2017, according to the forecasts of the US Energy Information Administration (EIA), included in the Short-term Energy Outlook for August 2016. The forecast remained unchanged compared to the EIA Short-term Energy Outlook published in July. The country’s oil…
It is planned to decrease tax rates in order to encourage non-cash payments in Azerbaijan, the country’s Deputy Taxes Minister Ilkin Valiyev said. “Encouraging non-cash payments and limiting cash payments will lead to a rise in the number of POS-terminals and to the transparency in the payment of taxes”, said Valiyev. “We have already had…
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…
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…
Iran believes it is necessary to expand the energy cooperation with Azerbaijan’s state oil company SOCAR, said Iran’s Oil Minister Bijan Namdar Zanganeh. Zanganeh made the remarks during a meeting with SOCAR President Rovnag Abdullayev in Baku on August 8. During the meeting, Abdullayev pointed to the rapid and successful development of Azerbaijani-Iranian relations, which…