During six months in 2015 the capital costs of the BTC Co company (operator of construction and operation of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline) in the BTC project increased by 43.5% up to $88 million against the same period in 2014, reads the report of BP-Azerbaijan company.
During this period the pipeline operation costs reached $73 million, while capital outlays - $15 million.
According to BP, since launching of the BTC oil pipeline on June 4, 2006 till July 1, 2015 298 million tons of oil was exported to the world markets via this pipeline and 2,940 tankers have been shipped from the Ceyhan terminal.
Carrying capacity of the BTC oil pipeline is 1.2 million barrels of oil a day.
During 6 months this year 18 million tons of oil was pumped via the pipeline and 188 tankers have been shipped from the Ceyhan terminal.
The BTC oil pipeline is 1768 km long, of which 443 km lies in Azerbaijan, 248 km in Georgia and 1077 km in Turkey. Carrying capacity of the pipeline is 1.2 million barrels of oil a day.
The project partners include BP (30.1%); SOCAR (25.00%); Chevron (8.90%); Statoil (8.71%); TPAO (6.53%); ENI (5.00%); Itochu (3.40%); ConocoPhillips (2.50%); INPEX (2.50%), Total (5.00%) 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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