Economy

Oil up over estimated fall in US crude stocks, tight supply

Oil prices increased on Wednesday on the back of an estimated decrease in US crude inventories, while tight supply after two hurricanes in the US Gulf of Mexico, and soaring demand is also supporting further price gains.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Azerbaijan, Russia agreed on seasonal gas swap

Azerbaijan and Russia agreed to cooperate in seasonal natural gas swaps. The relevant contract was signed between Azercontract and Gazprom, the Azerbaijani news agency Report said on Tuesday.

Turkey was Azerbaijan’s top importer among OIC countries

Turkey, Tunis and Libya were the top three importers of Azerbaijan among OIC countries in January-May of this year, according to the country’s State Customs Committee.

Azeri Light crude price exceeds $76.5

Azerbaijani oil price has increased on the world markets.

BP invests $7 million in electric vehicle charging technologies

BP invested $7million in smart electric vehicle (EV) charging firm, IoTecha, leading a $13.2 million investment round, the company said in a statement Tuesday.

Oil prices jump on world markets

On London ICE (InterContinental Exchange Futures) cost of the Brent crude oil rose $0,25 to trade at $75,15, while the price of Light crude oil at the NYMEX (New York Mercantile Exchange) increased $0,02 to stand at $73,68.

Azeri Light crude sells for $74,54

Azerbaijani oil price has increased on the world markets.

Azerbaijani oil sells for more than $75

Azerbaijani oil price has increased on the world markets.

Journalists got acquainted with the EU projects in Azerbaijan

Media representatives continue to get acquainted with the projects implemented by the European Union in the regions of Azerbaijan.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Azeri Light crude sells for $71,80

Azerbaijani oil price has increased on the world markets.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Russia, Pakistan agree to build Pakistan Stream gas pipeline

Russia and Pakistan signed an agreement to build the Pakistan Stream natural gas pipeline, Russia's Energy Ministry said Friday.

Economic Watch: China's steel industry embraces green shift for carbon-cutting commitment

Forging ahead toward a greener future, China is ever more committed to transforming the steel industry into a low carbon-emitting one amid its long-term green pledges.

Meat production has been increased in Azerbaijan

In January-April 2021, 176.3 thousand tons of meat in live weight, 672.3 thousand tons of milk, 624.7 million eggs and 2.3 thousand tons of wool were produced in Azerbaijan.

UK has still made more than 30$ billion of investments in Azerbaijan

The trade turnover between Azerbaijan and the UK increased in 2019 by 34 percent and amounted to USD 704.6 million.

Oil prices jump on world markets

Oil prices have increased on the world markets.

Azeri Light crude sells for 69.26

Azerbaijani oil price has increased on the world markets.

Azeri Light crude sells for more than $69

Azerbaijani oil price has increased on the world markets.

Washington DC gas shortage reaches critical level

The majority of gas stations in the United States capital Washington DC have now run out of fuel, days after a major cyberattack forced the nation’s largest gasoline pipeline offline.

Economic Watch: Turkey-China commerce moves forward despite pandemic

Turkey and China have managed to further develop and diversify their growing trade relationship despite the COVID-19 pandemic as they celebrate the 50th anniversary of diplomatic ties this year.

Amazon’s $300M EU fine canceled

The European Court of Justice annulled on Wednesday the European Commission’s decision on ordering the e-commerce company Amazon to pay back €250 million ($303 million) plus interest to Luxembourg.

Huawei 5GtoB solution aims at 1,000 smart factories

Chinese telecoms giant Huawei announced Saturday an action plan to "light up" 1,000 smart factories with its 5GtoB solution, in a bid to accelerate China's industrialization process, Baku Tribune reports citing Xinhua.

Time to reap benefits of CPEC phase two: Pakistani official

Pakistan will start reaping the benefits of the second phase of the China-Pakistan Economic Corridor (CPEC) in the form of industrial and agricultural development and a better road connectivity, Chairman of Pakistan's CPEC Authority Asim Saleem Bajwa said.

Saudi Arabia expected to cut June crude prices for Asia: Survey

Top oil exporter Saudi Arabia is expected to cut its official selling prices (OSPs) for Asia in June, tracking weakness in Middle East benchmark Dubai and demand uncertainty amid a new wave of regional COVID-19 outbreaks, a Reuters survey showed.

Azerbaijan, Georgia discuss energy cooperation

President of the State Oil Company of Azerbaijan (SOCAR) Rovnag Abdullayev has met with Georgian Prime Minister Irakli Garibashvili as part of his working visit to Georgia, reports Baku Tribune citing Azertac.

Oil prices decrease on world markets

Price for July of 2021 agreement on the exportation of Brent crude oil has decreased by 1,91% to stand at $ 67,25 for a barrel during trade operations held in ICE London Intercontinental Exchange, Baku Tribune.