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Investments in Azerbaijan’s oil sector increase by quarter

Oil&Gas Materials 20 November 2014 16:36 (UTC +04:00)

Baku, Azerbaijan, Nov. 20

By Emil Ismayilov - Trend:

Around 4.91 billion AZN was invested in Azerbaijan's oil and gas sector in January-October 2014, which is 24.4 percent more than in the same period of 2013, the country's State Statistics Committee said in its report for ten months of 2014.

Over 4.82 billion AZN was invested in the country's oil sector in 2013, which is 24.2 percent more than in 2012.

The total volume of capital investments in Azerbaijan's industrial sector amounted to 5.93 billion AZN in January-October 2014, which is 1.4 percent more than in the same period of 2013, according to the report.

Some 4.89 billion AZN of this volume was invested in the mining industry during the reporting period, which is 28.2 percent more than in January-October 2013.

The total volume of capital investments in Azerbaijan's industrial sector stood at 7.08 billion AZN in 2013, which is 16.4 percent more than in 2012. Around 4.7 billion AZN of this volume was invested in the mining industry, which is 20.6 percent more than in 2012.

The investments in the production, distribution and supply of electricity, gas and heat amounted to 249.2 million AZN in January-October 2014, which is 13.7 percent less than in the same period of 2013.

This is while the investments in the production, distribution and supply of electricity, gas and heat amounted to 390.5 million AZN in 2013, which is 31.5 percent less than in 2012.

The official exchange rate is 0.7845 AZN/USD Nov. 20.

edited by CN

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