ECONOMY

During trading operations on the “ICE London” intercontinental exchange, the value of the August 2026 contract for the export of “Brent” crude oil increased by 0.74% to 72.52 US dollars per barrel. According to elchi, the price of 1 barrel of “WTI” crude oil for export in August 2026 on the New York “NYMEX” commodity […]

The price of Azerbaijani oil of the “Azeri Light” (CIF) brand has increased in world markets. “Elchi” reports that the price of 1 barrel of Azerbaijani oil has increased by 0.78 dollars, or 1.1%, reaching 73.71 US dollars. It should be noted that the previous price of Azerbaijani oil was 72.93 US dollars. Recall that […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. elchi‘s information indicates that on July 7, the US dollar exchange rate remained unchanged at 1.7000 manats, and the Turkish lira stood at 0.0363 manats. In turn, 100 Russian rubles depreciated to 2.1954 manats, while the euro appreciated to 1.9442 manats.

Saudi Arabia has implemented the largest discount in the last 26 years on the official selling price of its “Arab Light” crude oil for the Asian market. elchi reports that the Saudi state oil company “Aramco” will reduce the price of a barrel of “Arab Light” crude oil by $11 for next month. This is […]

President Ilham Aliyev has signed a decree on the execution of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) budget for 2025. “Elchi” reports that last year, SOFAZ’s budget revenues amounted to 17 billion 160.4 million manats, while budget expenditures totaled 14 billion 627.2 million manats. During the year, the Fund generated 10 […]

“Balakhani Operating Company LTD” (BOC), which carries out production activities in the “Balakhani-Sabunchu-Ramana” field based on the “Production Sharing Agreement” with SOCAR, has finished the first half of 2026 with record figures. “Elchi” reports that the company has increased its average daily production to 1,000 tons. In addition, as a result of the application of […]

The “Global Shapers Annual Summit” was held in Geneva within the framework of the World Economic Forum. elchi reports that more than 500 young leaders from 140 countries participated in the event. During the event, discussions were held on topics such as artificial intelligence, leadership, sustainable development, digital transformation, and the future of communities. Rahim […]

In order to ensure accessibility to public catering facilities, recreation areas, and parking points located in areas where vehicle traffic is restricted in the capital, free shuttles have been put into operation. This was reported to “Elchi” by the Azerbaijan Land Transport Agency (AYNA). It was stated that one of the new shuttles – minibus […]

“AzerGold” CJSC has presented a commemorative coin collection designed specifically to mark the 10th anniversary of its operations. “Elchi” reports that the collection reflects the contributions made by “AzerGold” CJSC to the development of the country’s mining industry over the past decade. The obverse of the gold and silver coins features elements symbolizing the corporate […]

Oil has become relatively cheaper on world markets. elchi reports that August futures for WTI crude oil on the New York NYMEX commodity exchange fell by 0.02 USD or 0.03%, reaching 68.67 USD per barrel. On the ICE London exchange, the price of September futures for Brent crude oil decreased by 0.17 USD or 0.24%, […]