Economy

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Saudi Arabia to extend oil output cuts - media

Saudi Arabia to extend oil output cuts - media

Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, Bloomberg reported. OPEC is scheduled to gather in Vienna on May 25 to discuss whether to roll over for another …

Oil prices rising as US crude supplies drop

Oil prices rising as US crude supplies drop

The prices of June futures for Brent oil have risen by 0.30% to $56.40 per dollar on the ICE Exchange in London, as of 08:22 (MSK). The May futures for WTI oil gained 0.26% and reached $53.54 per barrel at the New York Mercantile …

Rouhani: Iran gives priority to relations with Russia and Azerbaijan

Rouhani: Iran gives priority to relations with Russia and Azerbaijan

Iranian President Hassan Rouhani has said that his administration gives priority to ties with the neighboring countries, in particular Russia and Azerbaijan. The president noted the ties with Azerbaijan and Russia have …

Iran Keen to Develop Caspian Reserves

Iran Keen to Develop Caspian Reserves

The National Iranian Oil Company is eager to develop offshore oil and gas fields in the Caspian Sea

Oil prices edge up as geopolitics dominate

Oil prices edge up as geopolitics dominate

The U.S. move has stoked concerns of possible retaliation from Iran and Russia

Novak about extending OPEC deal: we to consult with our oil firms

Novak about extending OPEC deal: we to consult with our oil firms

Russian Energy Ministry will soon start consultations with Russian oil producers about the possibility of extending an output cut deal with OPEC, the Russian Energy Minister Alexander Novak said. A final decision …

Nazarbayev: EEU member-states need to reach same level of development

Nazarbayev: EEU member-states need to reach same level of development

All member-states of the Eurasian Economic Union (EEU) should be brought to one level of economic development in order to do cooperation work on equal conditions, the Kazakh President Nursultan Nazarbayev said in an interview …

Alternative to East-West railway corridor

Alternative to East-West railway corridor

Azerbaijani Railways (ADY) in collaboration with other transportation agencies are the initiators and participants of a number of major international projects, the ADY chairman Javid Gurbanov said. "Currently, work …

Azerbaijani President: we to achieve all goals this year

Azerbaijani President: we to achieve all goals this year

This year Azerbaijan will achieve all goals, Azerbaijani President Ilham Aliyev said, addressing a meeting of the Cabinet of Ministers dedicated to the results of the first quarter of 2017 and future tasks. According to …

Ukraine central bank governor confirms her resignation

Ukraine central bank governor confirms her resignation

Ukrainian Central Bank Governor Valeria Gontareva confirmed reports of her resignation, saying she had sent a letter to the president asking to be relieved of her duties by May 10. Gontareva said there would be no …

 Production of Chevrolet Niva vehicles launched in Kazakhstan

Production of Chevrolet Niva vehicles launched in Kazakhstan

Kazakhstan launched production of Chevrolet Niva cars in the city of Kostanai, CJSC GM-AvtoBAZ said in a press release. SaryArkaAvtoProm, a Kazakhstan-based car manufacturer,  launched production of Chevrolet Niva cars today …

Ilyas Umakhanov: Russia and Azerbaijan reach 25th anniversary of diplomatic relations with remarkable results

Ilyas Umakhanov: Russia and Azerbaijan reach 25th anniversary of diplomatic relations with remarkable results

Russia and Azerbaijan reached the 25th anniversary of establishing diplomatic relations with a variety of positive results, showing the scale of modern Russian-Azerbaijani cooperation, the Deputy Chairman of the Federation Council, a member of …

Russia does not withdraw OPEC deal

Russia does not withdraw OPEC deal

Russia does not discuss the possibility of leaving oil output reduction deal with Organization of the Petroleum Exporting Countries (OPEC) and did not express dissatisfaction with its results, a source in the cartel said. "There …

Ukraine#039s central bank governor resigns

Ukraine's central bank governor resigns

Ukraine's Central Bank Governor Valeria Gontereva has resigned, an official said. "Yes, it's true, she has submitted (her resignation)," the official said, confirming a report by Interfax. …

SOCAR may take part in oil and gas projects in Iran

SOCAR may take part in oil and gas projects in Iran

A delegation led by President of SOCAR Rovnaq Abdullayev met with Iran's oil minister Bijan Namdar Zanganeh, APA reports. According to SOCAR’s website, the two sides discussed the current …

Sahil Babayev: Azerbaijan plans to increase export to Russian markets

Sahil Babayev: "Azerbaijan plans to increase export to Russian markets"

Deputy Economy Minister of Azerbaijan on cooperation with Russia and the EU

Ankara develops new energy policy

Ankara develops new energy policy

Albayrak’s plan can help to reduce the country's dependence on foreign resources

Kvirikashvili launches Daryalskaya hydropower plant

Kvirikashvili launches Daryalskaya hydropower plant

According to the website of the Georgian Cabinet, the Daryalskaya hydropower plant, located in the gorge near the Russian border, has been put into operation. The launch ceremony was attended by Prime Minister Georgy Kvirikashvili and …

Understanding Trexit: What Brexit means for Turkey?

Understanding Trexit: What Brexit means for Turkey?

Brexit will throw up many challenges for the UK’s trade with Turkey

App Store may open in Georgia before the end of the year

App Store may open in Georgia before the end of the year

Representatives of the Georgian Ministry of Economy and the Agency for Innovation and Technologies held talks with Apple managers. They discussed the opening of App Store in Georgia. This service will allow residents of Georgia to use …