Analytical Articles

Gold continues to be in the focus of investors’ attention and judging by the current state of the world economy, will not lose its lustre during the coming years. Excess demand for gold as a safe haven asset has provoked a rise in prices. The April gold futures trading at the New York Stock Exchange on the Comex on the basis of trading amounted to $1731.3 per troy ounce. A day earlier, gold has risen in price to $1,748.4.

Thanks to competent work in the area of reforming business regulations, Azerbaijan has made significant progress in business environment development.

A meeting between representatives of SOCAR's management and the delegation headed by Deputy Minister for Economic Development of Italy Claudio De Vichentis was held at the State Oil Company of Azerbaijan (SOCAR). Talks about the prospects of energy cooperation between the two countries, a comprehensive exchange of views on Southern Gas Corridor project of the EU and Italy's activity on the implementation of the project were held during the meeting. Ambassador Extraordinary and Plenipotentiary of Italy to Azerbaijan and representatives of the Edison Company's management participated in the meeting.

Gazprom and the State Oil Company of Azerbaijan Republic (SOCAR) have signed an additional agreement to double Azerbaijani gas purchases to 3 billion cubic meters in 2012. SOCAR and Gazprom signed a contract on Azerbaijani gas sales on Oct. 14, 2009. According to an addendum to the contract signed in early September 2010, Gazprom should have gotten 2 billion cubic meters in 2011 and will get over 1 billion in 2012. Supplies to Russia started from Jan.1, 2010.

The central banks in many countries prefer to reduce the rate in terms of the growth of the debt crisis in the euro zone and thereby slowing the world economy

Besides supplying to Afghanistan and Georgia, SOCAR may enter the market of oil products in Central Asia.