Greek Minister of Environment, Energy and Climate Change Panos Skurletis has accused the European Commission of delay of the deal to sell share of State Oil Company of Azerbaijan (SOCAR) in the Greek operator DESFA, reported Greek media.
In his speech in Greek parliament Skurletis said that some conditions laid down by the European Commission have significantly delayed privatization of the gas operator. In particular, reduction of SOCAR’s share in DESFA to 49% will lead to the fact that the company will become a passive shareholder with no right to vote in the company’s management.
Deputies of Greek parliament mentioned that the problems with DESFA privatization could deprive economy of the country of significant financial inflows of SOCAR.
In 2013 SOCAR won the tender to sell 66% share in DESFA for 400 million Euro. SOCAR will buy 31% share from the Greek government and a full package of 35% from Hellenic Petroleum. –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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