Azerbaijan’s state oil company SOCAR was focused on diversification of its investments even when the oil prices were high, and this strategy would ensure stability of the company’s revenues, President of SOCAR Rovnag Abdullayev said. “As a result of the right investment strategy, the value of SOCAR’s total assets increased from 9 billion manats to…Details
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The Belarusian mechanical engineering company OAO Gomselmash is getting ready to ship a batch of cotton harvesters to Cameroon. It will be the first shipment of agricultural machines to the remote African country, Yuri Rafayev, Head of the Non-CIS Sales Office at Gomselmash, said. According to him, the Belarusian company has been able to enter…Details
Azerbaijani state oil company SOCAR is not going to abandon the purchase of a share in the Greek gas operator DESFA, President of SOCAR Rovnag Abdullayev said. “We won the tender and we’re not going to abandon the deal [with DESFA]”, Abdullayev said. “We don’t talk about appealing to a court, but we will defend…Details
President of Azerbaijan’s state oil company SOCAR Rovnag Abdullayev took part in the opening of a gas distribution network in Girikhli village of Marneuli region in Georgia. Abdullayev, who was on a visit to Georgia, took part in the event together with the country’s Energy Minister Kakha Kaladze. As many as 259 users have been…Details
The Russian government can raise about 700 billion rubles from privatization of the oil major Rosneft, Economic Development Minister Alexei Ulyukayev said. “I think that Rosneft has always been a priority because it is larger, more expensive, has more value to the budget. This is about 700 billion rubles which we can receive this way…Details
The passenger traffic of Russian airlines can decline by up to 10% in 2016, Transport Minister Maxim Sokolov said. “The domestic market has increased significantly. The growth was about 6%, according to the data as of now. But still, the correction will be up to 10% due to a catastrophic fall of international traffic”, Sokolov…Details
First Shah Deniz 2 platform jacket sail is an important milestone and great achievement, Shah Deniz 2 projects Vice President Ewan Drummond said. “The first jacket sail away is an important milestone and we are pleased to have achieved this as we move towards completion of other areas of the project”, Drummond said. “I take…Details