Tag Archives: Azerbaijan

Azerbaijani court consider Yunus appeal

NOV. 5 2015 (The Conway Bulletin) – A court in Azerbaijan was due to start considering an appeal by jailed human rights activists Leyla Yunus and Arif Yunus against their imprisonment in August for 8-1/2 and 7 years for various economic crimes. Human rights groups have said the authorities imprisoned Leyla and Arif Yunus to silence them.

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(News report from Issue No. 255, published on Nov. 6 2015)

Petronas shows interest in pumping Azerbaijani gas

NOV. 4 2015 (The Conway Bulletin) — Malaysia’s energy company Petronas said it is interested in buying stakes in the TANAP and TAP pipelines pumping gas from Azerbaijan to Europe. In April, Petronas bought Statoil’s 15.5% stake inAzerbaijan’s main gas field, Shah Deniz.

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(News report from Issue No. 255, published on Nov. 6 2015)

 

Azerbaijan’s SOCAR signs contract with France’s Axens

OCT. 28 2015 (The Conway Bulletin) — Azerbaijan’s state-owned energy company SOCAR signed a contract with French industrial group Axens to build new units at the Heydar Aliyev refinery near Baku. This is part of a $16.5b project to modernise the Baku refinery and boost production of petroleum products. Axens will build new diesel fuel and gas hydro-treating units at the refinery.

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(News report from Issue No. 254, published on Oct. 30 2015)

Montenegro-Aerbaijan sign deal

OCT. 27 2015 (The Conway Bulletin) – On a trip to Baku, Montenegro PM Milo Dukanovic signed bilateral customs deals. Anti- corruption lobbyists have queried improved relations between Azerbaijan and Montenegro. Companies linked to the Azerbaijani state have invested heavily in Montenegro’s tourism sector.

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(News report from Issue No. 254, published on Oct. 30 2015)

 

Business comment: IMF’s reforming zeal

OCT. 23 2015 (The Conway Bulletin) — The South Caucasus and Central Asia might be looking at a long term economic crisis, the IMF said, sending a chill down the spines of the region’s investors.

After the shock of the 2008/9 financial crisis, countries across the region picked up pace and restored the steady growth pattern they had witnessed in the early 2000s.

But the current crisis, which Kazakhstan’s President Nursultan Nazarbayev called worse than the 2008/9 financial crunch, could linger on for longer than expected because of its ripple effects on the Russian economy, the IMF said.

Lower oil prices have affected hydrocarbon exporters from the region – big and small, private and state. Several exploration and production projects have become unprofitable and revenues have lost value. The IMF forecast a break- even price of around $60/barrel or higher for both Azerbaijan and Kazakhstan. If oil prices are lower, debt will grow and reserves will shrink.

Tajikistan, Kyrgyzstan and Armenia, had been forecasted to be better off due to lower oil prices, but the fall in the rouble has reduced the value of their remittances and pressured currencies.

And the IMF had a message. Reform is the only option, it said.

“The long-lasting nature of the shocks means that deeper and more durable policy changes will be needed,” Juha Kähkönen, deputy director of the IMF in Almaty said.

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(News report from Issue No. 254, published on Oct. 30 2015)

Azerbaijan could join EEU, says minister

OCT. 26 2015 (The Conway Bulletin) – Azerbaijan said for the first time that it could join the Kremlin-led Eurasian Economic Union. At a press conference in Baku, deputy economy minister Sevinj Hasanova said: “We are analysing how our participation in the World Trade Organisation is useful. Therefore, Azerbaijan’s joining the EEU or other organisations should be analysed.”

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(News report from Issue No. 254, published on Oct. 30 2015)

 

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 254, published on Oct. 30 2015)

 

SPA nominates Azerbaijan’s first lady for a rights prize

OCT. 23 2015 (The Conway Bulletin) – The Swedish Peace Agency, an obscure human rights group based in Gothenburg, has nominated Mehriban Aliyeva, wife of Azerbaijani president Ilham Aliyev, for a human rights prize for promoting women’s rights. Human rights groups have criticised Azerbaijan this year for clamping down on human rights.

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(News report from Issue No. 254, published on Oct. 30 2015)

 

Azerbaijan’s Sofaz revenues drop

OCT. 26 2015 (The Conway Bulletin) -The value of Azerbaijan’s sovereign wealth fund Sofaz dropped by 6.4% to $34.7b between Jan 1 and Oct 1, it said, a decrease that highlights the impact of the fall in oil prices and collapse in the value of its manat currency. Sofaz earns revenues from oil and gas contracts.

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(News report from Issue No. 254, published on Oct. 30 2015)

 

Austria’s Poerner to build Azerbaijan’s capital bitumen plant

OCT. 23 2015 (The Conway Bulletin) — Azerbaijan hired Austrian Poerner Group alongside Texas-based Fluor Corp. to build a bitumen plant, a deal poised to boost Azerbaijan’s output of petroleum products.

Azerbaijan’s state-owned energy company SOCAR contracted Poerner to design the 400,000 tonnes/year plant, which Fluor Corp will build over the next decade.

Earlier this year, Azerbaijan said it wanted to modernise its oil, gas and petrochemicals processing plants near Baku. In March, Reuters quoted the US embassy in Azerbaijan saying the new complex will cost around $16.5b.

Neither Poerner nor Fluor have disclosed the value of their contracts with SOCAR, but their contribution will be important to boost Azerbaijan’s bitumen, or asphalt, production. Bitumen is a product of oil refining and an important commodity for the entire South Caucasus region. Bitumen’s main use is in road-building. Azerbaijan, as well as Armenia and Georgia, has committed itself to improving and expanding the country’s road network.

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(News report from Issue No. 254, published on Oct. 30 2015)

Azerbaijan gears up for parliamentary election

OCT. 30 2015 (The Conway Bulletin) – Azerbaijan is gearing up for a parliamentary election this Sunday, a vote tarnished by the withdrawal of Europe’s main democracy monitoring group and by accusations of a clampdown on human rights.

Relations between the West and Azerbaijan have been increasingly strained this year over Azerbaijani President Ilham Aliyev’s crackdown on the media and opposition activists. The West has accused him of holding human rights in scant regard; Mr Aliyev has responded by accusing the West of trying to plot a coup.

And in the build up to the election, the row continued to be played out in public.

Nils Muiznieks, the Council of Europe’s human rights commissioner, said civil rights in Azerbaijan were operating under a dark cloud.

“Human rights activists, journalists and national electoral observers have been muzzled using repressive legislation, jailed on trumped-up charges or forced to escape into exile,” he wrote in an opinion article for politico.eu. “Under these circumstances, it is impossible to hold any meaningful debate about the election or to ensure its accountability.”

ODHIR, the organisation that runs Europe’s main vote monitoring operation withdrew its team from Azerbaijan’s election because it said that the Azerbaijani authorities had only agreed to allow it to send half the monitors it needed.

European vote monitors have never judged an election in Azerbaijan to be free and fair and the 125- member parliament is generally viewed as a rubber-stamping operation for President Aliyev.

In 2010, Mr Aliyev’s Yeni Azerbaijan party won 72 seats. Independent MPs, who mainly supported Yeni Azerbaijan won 48 seats, giving Mr Aliyev a massive majority.

More of the same is expected on Sunday.

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Copyright ©The Conway Bulletin — all rights reserved

(News report from Issue No. 254, published on Oct. 30 2015)