According to the draft of state budget, which was submitted by the government for the consideration and approval of parliament, next year oil products production is planned to be increased by 4.4% in Azerbaijan.
According to the document, this year the republic must produce 5.87 million tons of oil products and next year the volume of oil products production must be increased up to 6.13 million tons.
The growth of oil products production is connected with growing consumption at the local market.
Table of aviation fuel production in Azerbaijan from 2010 to 2014 (thousands tons)
| Oil products | 2010 | 2011 | 2012 | 2013 | 2014 |
| Aviation petrol | 1249 | 1295 | 1296 | 1360 | 1490 |
| Diesel fuel | 2488 | 2483 | 2368 | 2200 | 2040 |
Oil products are manufactured at two oil refineries in Baku. The automobile fuel is manufactured at Heydar Aliyev oil refinery.—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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