From January to September 2013 deliveries of oil products to the local market of Azerbaijan totaled 3,857,600 tons, up 8.9% against the same period last year.
Deliveries of diesel fuel to the local market totaled 1,047,700 tons, petrol – 1,028,500 tons, kerosene – 405,300 tons, black oil – 162,700 tons, oil bitumen – 236,200 tons, liquefied gas – 120,400 tons and other oil products – 856,800 tons, reported the Azerbaijan State Statistical Committee.
The oil products consumption has increased at the local market mainly because of the two factors: a significant growth of cars in the country and poorly developed road infrastructure, which causes traffic jams and excessive consumption of oil products.—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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