From January to May 2015 SOCAR has shipped 7,278,248 tons of Azerbaijani oil from the Ceyhan terminal, down 13.8% against the same period last year.
SOCAR press office reported that in May 2015 SOCAR has shipped 1,352,966 tons of oil from the Ceyhan terminal.
In 2014 20,483,248 tons of Azerbaijani oil was shipped from the Ceyhan oil terminal.
The length of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline is 1768 km, of which 443 km lie in Azerbaijan, 249 km in Georgia and 1076 km in Turkey. The carrying capacity of the pipeline is over 50 million tons of oil a year.
The project partners include BP (30.1%); SOCAR (25%); Chevron (8.9%); Statoil (8.71%); TPAO (6.53%); ENI (5%); Itochu (3.4%); ConocoPhillips (2.5%); INPEX (2.5%), Total (5%) and ONGC (2.36%). –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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