Reza Padidar, famous energy specialist, said in his interview to Economic Radio that price of Iranian light oil is above $107 per barrel and during 6 months, 2013 Iran’s incomes from crude oil export totaled $23 billion, reported IRIB News.
Padidar added that by having increased oil production up to 4 million barrels a day, Iran will strengthen its positions in OPEC.
He said that Iran exports in average 1,209,000 barrels of oil a day. He said investments are needed for various fields of oil industry, especially the oil extracting industry, especially as the 5-year program of the country development (2011-2015) envisages increase in the oil production volume up to 5 million barrels a day.
It is real to achieve this production level, if the country attracts foreign and local investments and a special attention should be paid to the Iranians living abroad, who have as minimum $850 billion.
He mentioned that Iran has wide possibilities for oil export and added that there are minimum 18 oil refineries in the world, which use Iranian oil as raw material. Iranian oil has good quality and they simply cannot give it up.—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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