Investments in Azerbaijan’s oil and gas sector down

Oil&Gas Materials 20 April 2017 21:23 (UTC +04:00)

Baku, Azerbaijan, Apr. 20

By Maksim Tsurkov – Trend:

In January-March 2017, 2.21 billion manats were invested in Azerbaijan’s oil and gas sector, as compared to 2.25 billion manats in the same period of 2016, the Azerbaijani State Statistics Committee said in a report.

During the reporting period, the total volume of investments in Azerbaijani industrial sector amounted to 2.36 billion manats, which is by 5.3 percent less than in January-March 2016.

Some 2.2 billion manats out of that volume were invested in the extractive industry in January-March 2017, which is 9.7 percent less than in the same period of 2016, the report said.

Investments in production, distribution and supply of electricity, gas and heat amounted to 51.8 million manats in January-March 2017 that is by 79.7 percent more than in the same period of 2016.

The official exchange rate on April 20 is 1.7022 AZN/USD.