Three Russian integrated oil and gas companies – Gasprom, LUKoil and Rosneft – are in the top ten of the annual rating of 250 biggest global energy companies of Platts information agency. The updated rating based on the companies’ results in the fiscal year 2012, such as assets, profit, earning and profitability of invested capital was released today in Singapore, reads Platts statement submitted to RBC.
US ExxonMobil oil and gas giant is on the first place for nine years running. Chevron and RoyalDutch Shell are on the second and third places, switching positions compared to previous year. Russian Gasprom, LUKoil and Rosneft corporations continued ascending the top of the rating and went up six positions. LUKoil moved from the 11th to the 7th place and Rosneft moved one position forward and occupied the ninth place. –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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