8 Aug 2016 13:30

Investments of Russian cos in oil, gas sector of Azerbaijan brings them $2 bln in profit - Azerbaijani econ ministry

BAKU. Aug 8 (Interfax) - The profit of Russian businesses from investments in Azerbaijan's oil and gas sector amounted to $2 billion, Azerbaijani Economy Minister Shakhin Mustafayev said.

"The total volume of investments of Russian companies in the economy of Azerbaijan until now amounted to about $3 billion, of which $2.8 billion was in the oil and gas sector. From investments in this sector Russian companies have received profit in the amount of $2 billion," he said, speaking on Monday in Baku at an expanded meeting of bilateral business councils.

Mustafayev said that Azerbaijan is currently "very interested in bringing in investment into the non-commodities sector of the economy."