In October 2013 the Batumi Oil Terminal registered a record number of transshipped oil and oil products during the past three years – 612,751 tons. The closest index was registered in March 2010 – 620,429 tons.
“The Batumi Terminal has a significant advantage over the other Black Sea terminals, because it is able to transship up to 22 types of oil products, including crude oil, light and dark oil products and liquefied hydrocarbon gas,” said Talgat Baytaziyev, General Director of Batumi Industrial Holdings Ltd.
Batumi Industrial Holdings Ltd is 100% daughter company of KazTransOil JSC. It includes Batumi Oil Terminal and Batumi Sea Port.
Mainly Kazakhstan oil is exported through this port. ExxonMobil company also exports its share of oil extracted on the Azerbaijani Azeri and Guneshli fields to the world markets from the Batumi terminal.—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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