In 2012 total volume of capital outlays within the framework of the Baku-Tbilisi-Ceyhan (BTC) oil pipeline totaled $64 million, reported BP-Azerbaijan company. The capital costs for BTC increased by 58% against 2011.
According to this year’s plans, capital outlays for the BTC pipeline maintenance will total $97 million, up 55.6% against 2012.
However, BP-Azerbaijan does not explain why the capital outlays for BTC grow so fast, because since 2011 oil transportation via the pipeline has been going down.
BP-Azerbaijan reported that 2061 tankers were loaded in Ceyhan port since putting of the BTC oil pipeline into operation on June 4, 2006 till the end of 2012, which means that 213 million tons of oil was delivered to the world markets via BTC.
Carrying capacity of the BTC oil pipeline is 1.2 million barrels of oil a day. At present oil from the Azeri-Chirag-Guneshli bloc of fields and condensate from the Shah-Deniz field is pumped via the BTC oil pipeline. Beginning from June 2010 Turkmenistan oil is also pumped via the pipeline.
* BTC oil pipeline is 1768 km long, of which 443 km are located 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 partners of the project are BP (30.1%), SOCAR (25%), 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 Amerada Hess (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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