The Azerbaijani representatives are invited to Vienna for a meeting of the Organization of Petroleum Exporting Countries (OPEC). In addition to them on October 21 there will be present 7 countries outside the oil cartel - the Russian Federation, Kazakhstan, Brazil, Colombia, Norway, Mexico and Oman.
According to the Oil Minister of Venezuela Eulogio del Pino, the initiator of such a meeting in the extended format, it will be a technical meeting of experts on oil. "The proposal of the Latin American side about the upcoming summit OPEC + non OPEC will be discussed at a meeting of OPEC in October," commented this message Kuwaiti Oil Minister Ali Al-Omair.
This is not a new initiative - formerly Russian Energy Minister Alexander Novak said that his country is ready to meet with OPEC and its member producers to discuss the market and 'fair prices for oil." --17D-
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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