Last week review (Dec. 8-12)
Azerbaijan, Qatar agree to cooperate in ICT
Azerbaijan and Qatar signed a memorandum on cooperation in the field of information and communication technologies. The memorandum was signed as part of the World Exhibition and Conference "ITU Telecom World-2014" held in Doha (Qatar). The document was signed by Azerbaijani Minister of Communications and High Technologies Ali Abbasov and Minister of Information and Communication Technologies of Qatar Hessa Al Jaber. The memorandum envisages the cooperation between Azerbaijan and Qatar in the fields of telecommunication, support for IT-entrepreneurship (start-up projects). Moreover, nanotechnology is considered as one of the priorities of cooperation between the two countries.
BP-Azerbaijan comments on staff reduction plans
BP will spend $1 billion on making hundreds of job cuts over the next year, in response to the continued slump in global oil prices, Bob Dudley, BP chief executive said, the Guardian reported. "The cuts will "unlikely to affect people on the platforms," he said. "The cuts will be in the systems that support our operations and where BP has a significant corporate presence, so the US, the UK, Azerbaijan and Germany."
The company employs more than 2,900 citizens of Azerbaijan, which is more than 85 percent of the qualified staff of BP in the country.
SOCAR ready to invest in EU economy
The SOCAR (The State Oil Company of the Azerbaijan Republic) is interested in new investments in the economy of the European Union (EU), SOCAR said. SOCAR Vice President for Investments and Marketing Elshad Nassirov made the remarks in Brussels during the meeting devoted to discussion of the Southern Gas Corridor project. At the same time, Nassirov said that the EU should provide strategic support to non-European investors, according to the message.
Russian Gazprombank allocates $420 M loan for SOCAR POLYMER project
The SOCAR company (The State Oil Company of Azerbaijan Republic) and the Russian Gazprombank Dec.13 signed a Collection of basic conditions for the loan of $420 million for the SOCAR POLYMER project, implemented in Sumgait Chemical Industrial Park.
The document was signed in the main office of the Azerbaijani oil company within the framework of the visit of the Russian delegation headed by the Chairman of the Board of Gazprombank Andrey Akimov.
Implementation of the SOCAR POLYMER project, for which the loan has been allocated, will make it possible to produce 200,000 metric tons of polypropylene and 120,000 metric tons of polyethylene.