From January to July 2012 oil products consumption at the Azerbaijani market has significantly increased, according to the monthly data of the Azerbaijan State Statistical Committee.
State Statistical Committee reported that during 7 months, 2012 oil refineries of SOCAR delivered 3,054,000 tons of oil products to the local market. The volume of deliveries increased by 26.7% against the same period in 2011.
During this period 728,800 tons of petrol, 760,300 tons of diesel fuel, 562,900 tons of aviation kerosene, 204,400 tons of black oil, 72,600 tons of liquefied gas, 153,900 tons of oil bitumen and 572,000 tons of other oil products were delivered to the local market.
In 2011 4,416,000 tons of oil products were delivered to the local market, up 12.6% against 2010.
The growth of oil products consumption at the local market is caused by growing number of cars. During 6 months, 2012 18,900 cars were imported in Azerbaijan. The growth constituted 70%.-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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