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Azerbaijan sees fall in investments in oil & gas sector

Oil&Gas Materials 16 May 2018 17:22 (UTC +04:00)

Baku, Azerbaijan, May 16

By Maksim Tsurkov – Trend:

In January-April 2018, 1.88 billion manats were invested in Azerbaijan’s oil and gas sector as compared to 2.98 billion manats in January-April 2017 (decrease by 37 percent), said the country’s State Statistics Committee in a report.

During the reporting period, total volume of investments in Azerbaijan’s industrial sector amounted to 2.34 billion manats that is 30.6 percent less than in January-April 2017.

Thus, 1.83 billion manats out of this amount were invested in the country’s mining industry in January-April 2018, that is 40.2 percent less than in January-April 2017.

Meanwhile, investments in production, distribution and supply of electricity, gas and heating amounted to114.4 million manats in January-April 2018 that is 4.3 percent less than in January-April 2017.

(1.7 AZN = 1 USD on May 16)

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