Botas International Limited (BIL) company, daughter company of BOTAS state pipeline company, which was created to operate the Turkish section of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline has shipped 2600 tankers from the Ceyhan terminal.
BIL reported that since June 2, 2006, when the first tanker was shipped, till now 2 billion barrels of oil has been shipped from the Ceyhan oil terminal.
Total length of the BTC is 1768 km, of which 443 km pass through Azerbaijan, 249 km pass through Georgia and 1076 km through Turkey. The pipeline construction started in April 2003 and its filling with oil on May 18, 2005.
Oil extracted from the Azeri-Chirag-Guneshli (ACG) offshore bloc (in average 510,000 barrels of oil a day) and condensate from the Shah Deniz offshore field (50,000) barrels is transported via BTC. In addition, Turkmenistan and Kazakhstan oil (about 140,000 barrels) is transported via BTC.—0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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