During six months, 2016 SOCAR exported 643,145 tons of products of oil refining and petrochemistry to the foreign markets.
SOCAR press office reported that during this period the following products were exported – 389,223 tons of diesel fuel, 128,738 tons of aviation fuel, 2,298,000 tons of black oil, 46,896 tons of high pressure polyethylene, 7,385 tons of absolute isopropyl spirit, 35,215 tons of liquid pyrolized resin, 23,245 tons of propylene and 10,085 tons of butylene of butadiene fraction.
In 2015 SOCAR exported 1,226,212 tons of oil exported.—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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