The Hindu
Day: October 16, 2023
In January-September 2023, the State Oil Company of Azerbaijan (SOCAR) paid taxes to the state budget of the country in the amount of 1 billion 494.4 million manats, the Ministry of Finance of Azerbaijan.The tax plan for SOCAR for 2023 is set at 2 billion manats. Thus, in January-September, the company ensured the fulfillment of 74.5% of the annual plan.In general, SOCAR payments provided 11.7% of tax revenues of the state budget of Azerbaijan over 9 …
Oil and gas companies engaged in the development of the “Shah Deniz” and “Azeri-Chirag-Guneshli” (ACG) fields in Azerbaijan within the framework of PSA contracts (Production Sharing Agreements) in January-September 2023 paid profit tax in the amount of 3 billion 901.7 million manats to the state budget of the country.During the reporting period, the participants of the “Shah Deniz” project paid income tax in the amount of 3 billion 377.9 million manats, the ACG …
The price of December Brent crude futures on the London ICE Futures exchange rose by 4.78% to $90.11 per barrel following the results of trading on October 13. Above $90 per barrel, this grade of oil is traded for the first time since October 4, when prices sharply went down.The price of WTI crude oil futures for November delivery on the New York Mercantile Exchange increased by 4.21% to $86.98 per barrel.The rise in oil prices was due to potential export …
The assets of the State Oil Fund of Azerbaijan (SOFAR) increased by 13% to $55 billion 524 million in January-September 2023.According to the information of the Oil Fund, the growth of assets since the beginning of the year by 6 billion 490.4 million was due to the fact that SOFAR budget revenues significantly exceeded expenditures. SOFAR’s revenues in January-September 2023 amounted to 14 billion 878.3 million manats.The Fund’s revenues from the …
In September, the number of operating oil and gas drilling rigs in the world decreased for the second month in a row and is now at the lowest level in 14 months. According to the American oilfield services company “Baker Hughes,” 1,760 installations were operating in the world in September compared to 1,788 in August. At the same time, the September level is 93 lower than the indicator for the same month of 2022.North America accounted for 46.6% of the drilling …President Joe Biden delivered a stern warning on the international stage today, cautioning against any potential Israeli occupation of the Gaza Strip. The President’s remarks come in the wake of rising tensions in the Middle East and are part of his administration’s efforts to promote stability in the region.
Biden said he supported the creation of a humanitarian corridor for people in Gaza to leave and aid to be delivered.
President Biden emphasized the importance of a peaceful and negotiated solution to the long-standing Israeli-Palestinian conflict. He stated that any unilateral Israeli action to occupy Gaza would be a significant mistake with grave consequences for all parties involved.
Biden highlighted the potential consequences of such an occupation, expressing his concerns about the destabilization of the region and a likely escalation in violence. He called on both Israeli and Palestinian leaders to return to the negotiating table and pursue a two-state solution, which he emphasized as the only viable path to lasting peace.
The President’s statement comes amidst increased international scrutiny of the Israeli-Palestinian conflict.
The situation in the Middle East remains fluid and challenging, with many regional and international actors closely monitoring developments. President Biden’s warning is seen as a strong signal of his administration’s commitment to achieving a peaceful resolution to the Israeli-Palestinian conflict and maintaining stability in the region.
