ECONOMY

In the initial stage, seabed research is commencing in the “Goshadash” area for the purpose of preparing for 3D OBN (Ocean Bottom Node) seismic field operations. According to information provided by SOCAR to “Elchi”, the preliminary conduct of this research will ensure the optimal placement of nodes and the efficiency of planned operations during future […]

The conflict around Iran could create additional export and budget revenues for Azerbaijan amid rising energy prices. “Elchi” reports that this was stated by the international rating agency “Fitch Ratings”. According to the agency’s assessment, for hydrocarbon exporters located outside the Gulf region – Azerbaijan, Angola, Argentina, Brazil, Colombia, Ecuador, Gabon, Kazakhstan, Nigeria, and Congo […]

The price of Azerbaijani “Azeri Light” (CIF) crude oil has increased in world markets. “Elchi” reports that the price of 1 barrel of Azerbaijani oil increased by 8.41 US dollars or 8.9%, reaching 103.03 US dollars. It should be noted that the previous price of Azerbaijani oil was 94.62 US dollars. It is worth recalling […]

The Central Bank of Azerbaijan has announced today’s currency exchange rates. According to “Elchi”, on March 10, the exchange rate of the US dollar remained unchanged at 1.7000 manats, while the Turkish lira was 0.0386 manats. Meanwhile, 100 Russian rubles appreciated to 2.1677 manats, and the Euro depreciated to 1.9740 manats.

The finance ministers of the Group of Seven (G-7) countries will hold an urgent meeting to discuss tensions in global energy markets. “Elchi” reports that the Financial Times newspaper published this information, citing high-ranking sources from the G-7. According to the information, the meeting will be held at 16:30 Baku time. The Executive Director of […]

A decrease in the price of gold and other precious metals has been recorded in world markets. According to news provided by “Elchi”, citing market data, the price of gold’s April futures on the COMEX exchange decreased by 0.91% to 5,111.90 US dollars. Meanwhile, in the spot market, the price of gold decreased by 1.12% […]

The price of oil in the global energy market continued to rise sharply. “Elchi” reports that on the New York Mercantile Exchange (NYMEX), the price of April futures for WTI crude oil increased by 27.26% to 115.68 US dollars. The price of May futures for Brent crude oil, however, rose by 28% to 118.73 dollars […]

The price of gold futures per troy ounce (31.1 grams) has increased in commodity markets. “Elchi” reports, citing exchange data, that on New York’s COMEX commodity exchange, the price of April 2026 gold futures per troy ounce increased by 1.58% to 5,158.7 US dollars. On COMEX, the price of May 2026 silver futures per ounce […]

The price of natural gas futures quotes has increased on the New York “NYMEX” commodity exchange. “Elchi” reports that the price of natural gas futures for delivery in April 2026 increased by 6.09% to 3.186 US dollars per 1 million BTU (British thermal unit).