From January to June oil transit via the Georgian pipelines totaled 148 million barrels, down 2% against the same period 2015, reported Georgian Oil & Gas Corporation (GOGC).
During 6 months, 2016 132.4 million barrels of oil was transported via the Baku-Tbilisi-Ceyhan (BTC) pipeline (decline by 1.7%) and 15.6 million barrels via Baku-Supsa pipeline (WREP) to the terminal on the Black Sea coast of Georgia (reduction by 4.3%).
In 2015 oil transit via the Georgian pipelines totaled 293.4 million barrels, up 0.5% against last year. Last year 262 million barrels was transported via BTC (growth by 0.6%), 31.4 million barrels of oil via WREP (similar to 2014).—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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