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Use of expression "all parties to conflict" by Russia causes surprise, Baku says

2 hours 48 minutes ago
The use of the expression "all parties to the conflict" in the comments of the Russian Foreign Ministry regarding the illegal visit of Armenian prime minister’s wife Anna Hakobyan, as well as Russian State Duma member and other Russian citizens, to the occupied Azerbaijani territories causes surprise, the Azerbaijani Foreign Ministry said in a message on Oct. 17.

WEF report demonstrates interest of world political and economic elite in Azerbaijan

3 hours 30 minutes ago
The report of the World Economic Forum on global competitiveness demonstrated not only the success and achievements of Azerbaijan, but also the interest of the world political and economic elite in the country, the chairman of the Nizami district organization of the Yeni Azerbaijan Party (YAP), member of the Azerbaijani Parliament Sadagat Veliyeva told Trend Oct. 17.

Every fifth tourist in Azerbaijan is from Persian Gulf countries

3 hours 37 minutes ago
In January-September this year, 2,208,600 foreigners and stateless persons from 193 countries arrived in Azerbaijan, which is 6.4 percent more compared to the same period last year, the State Statistics Committee said in a statement Oct. 17.

Saudis, Kuwait Fail To Agree On 500,000-Bpd Joint Oil Fields Restart

4 hours 5 minutes ago
Due to operational divergences and geopolitical divisions, Saudi Arabia and Kuwait haven’t made any progress in talks about the potential restart of jointly operated oil fields that analysts were hoping could soon add 500,000 bpd of oil production in the Middle East, Reuters reported on Wednesday, quoting sources familiar with the talks. The so-called Partitioned Neutral Zone (PNZ) was established between Saudi Arabia and Kuwait in 1922 to settle a territorial dispute between the two countries. As of 2015, the oil production capacity in the…
Tsvetana Paraskova

Azerbaijan Defense Minister meets with his Czech counterpart

4 hours 9 minutes ago
Within the scope of the working visit to the Czech Republic, the Minister of Defense of the Republic of Azerbaijan Colonel General Zakir Hasanov takes part in the Future Forces International Exhibition 2018, the Ministry of Defense of the Republic of Azerbaijan said in a message on Oct. 17.

Iran, Ukraine discuss development of economic ties

5 hours 34 minutes ago
Iran’s new ambassador to Ukraine and head of the Ukrainian Chamber of Commerce and Industries in Kiev explored ways of boosting economic and trade ties between the two countries, IRNA reports.

Gold rises in price in Azerbaijan

5 hours 49 minutes ago
Prices for gold increased in Azerbaijan Oct. 18, while prices for silver, platinum and palladium decreased

WEF report enables world countries to learn about activities of Azerbaijani president

5 hours 51 minutes ago
Preservation of the leading position among the states of the world by Azerbaijan in the Global Competitiveness Report prepared by the World Economic Forum using a completely new methodology causes a sense of pride and is commendable, Aydin Guliyev, the editor-in-chief of the Bakı Kheber newspaper told Trend Oct. 18.

Armenia violates ceasefire with Azerbaijan 29 times

6 hours 2 minutes ago
Over the past 24 hours, Armenian armed forces have 29 times violated the ceasefire along the line of contact between Azerbaijani and Armenian troops, the Azerbaijani Defense Ministry said Oct. 18.

Iran, Ukraine discuss development of economic ties

6 hours 20 minutes ago
Iran’s new ambassador to Ukraine and head of the Ukrainian Chamber of Commerce and Industries on Wednesday in Kiev explored ways of boosting economic and trade ties between the two countries

27 Years of Independent Azerbaijan

7 hours 5 minutes ago
History proves that to preserve independence is much more difficult than to gain it. Life has turned out that for the century Azerbaijan had to regain its sovereignty twice. Unfortunately, the first opportunity was lost shortly and the Azerbaijan Democratic Republic, which emerged in 1918 and existed only 23 months.

Europe’s Fuel Oil Traders Wary Of Closing 2019 Deals

9 hours 5 minutes ago
Traders in Europe are not rushing to the 2019 tenders for fuel oil, expecting wild price volatility in the prices of both high-sulfur and low-sulfur fuel oil next year as the market will be preparing for the new International Maritime Organization (IMO) regulation capping sulfur content in the fuel powering ships. Although discussions about the tenders for 2019 supply have started and the delivery period for 2019 would usually run between December 2018 and January 2020, some traders are worried that their contracts will be exposed to the price…
Tsvetana Paraskova

What Killed The Oil Price Rally?

13 hours 5 minutes ago
Oil prices fell to a one-month low on Wednesday, pushed down by a rather bearish report from the EIA that showed a large increase in crude inventories. Brent briefly dipped below $80 per barrel and WTI was back below $70 per barrel as of Wednesday afternoon. The EIA said that crude oil inventories rose by 6.5 million barrels in the week ending on October 12. Crude stocks have actually been rising since mid-September, and are now back up to 416.4 million barrels. The four consecutive weeks of inventory gains is the longest streak since early 2017.…
Nick Cunningham

Oil Price Rally Revives Offshore Oil Sector

14 hours 5 minutes ago
The offshore drilling segment of the energy industry was among the hardest hit by the 2014 downturn. Many went under, and those that did survive were on their last legs when prices began to climb back up. Now, things are looking up and the sector could see a full recovery by 2020. Reuters recalls in a recent story how offshore drilling rigs fetched around US$180,000 per day during the worst of the downturn, from as much as half a million dollars before. Now, according to offshore drilling giant Transocean, it is raking in US$300,000 per day for…
Irina Slav

Global Economy Throwing Up Red Flags For Oil

15 hours 5 minutes ago
Investors are feeling the most pessimistic about the health of the global economy in a decade, according to a survey from Bank of America Merrill Lynch. The gloom is spreading, with a growing number of data points that point to risks for the economy. Fund managers surveyed by BofAML said they are holding onto cash instead of risking it in a frothy market, and 85 percent of them said that the economic expansion is in its late cycle. 38 percent of them said that they expect growth to slow over the next year, the highest share since November 2008,…
Nick Cunningham