From January to October 2015 US imported 4.82 million barrels of oil from Azerbaijan against 7.35 million barrels during the same period in 2014, reads the information posted on the web site of the US Energy Information Agency (EIA).
The same source said that in October 2015 US imported 1.77 million barrels of Azerbaijani oil against 3.15 million barrels in October 2014.
In 2014 US imported a total of 8.4 million barrels of Azerbaijani oil against 10.41 million barrels in 2013.
* This year US is going to reduce oil import from the traditional suppliers, due to growth of local production for three years running, which has exceeded an average of 1 million barrels. For instance, in summer 2015 US fully suspended oil import from Nigeria. Azerbaijani oil is imported to the US by ExxonMobil company, which extracts oil on the Azeri-Chirag-Guneshli (ACG) offshore bloc.—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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