The Russian direction of Azerbaijani oil export continues declining.
According to the information released by SOCAR, from January to June 2014 508,222 tons of oil was shipped from the Novorossiysk port, where Azerbaijani oil is delivered via the northern export route (Baku-Novorossiysk pipeline). The volume of shipment decreased by 38.5% against the same period in 2013.
In June 2014 SOCAR shipped 84,577 tons of Azerbaijani oil from the Novorossiysk port.
During 2013 Azerbaijan delivered 1.75 million tons of oil through the Russian port to the world markets. This year it is planned to export a little bit more than 1 million tons (monthly quote 85,000 tons).—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review