In April 2014 State Oil Company of Azerbaijan (SOCAR) plans to upgrade the catalytic cracking installation on the Heydar Aliyev oil refinery.
The upgrade will take almost one month. During this period SOCAR plans to achieve increase in productive capacity of the oil refinery.
The main goal of these works is to increase petrol production by 450,000 tons, because demand in this type of fuel grows at the local market.
Heydar Aliyev oil refinery is the only oil refinery, which produces petrol. The oil refinery’s warehouses could meet the country’s needs in fuel for one week.
Thus, it is planned to import the remaining amount of gasoline.
The Azerbaijan Cabinet of Ministers made a decision to exempt imported petrol with the octane number 95 and 92 from customs duty and excise from January 21 to June 1, 2014.—0—
Economics
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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The Organization of Turkic States (OTS) convened a pivotal meeting in Guba, recently named the agricultural capital, to introduce the "OTS Made" brand for agricultural products. Representatives from the Ministries of Agriculture of Azerbaijan, Turkey, Uzbekistan, Kazakhstan, and the Turkish Republic of Northern Cyprus, along with experts from relevant departments, participated in the event.
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The monopolists of the Azerbaijani internet services market, LLC Aztelekom and LLC Baktelekom, have agreed to raise the minimum monthly internet package price from 18 AZN for 40 Mbps to 25 AZN for 100 Mbps starting August 15. Explaining the new price, these companies want to convince the public that the price has dropped since the internet speed will increase by 2.5 times, thus reducing the cost per Mbps from 45 qapik to 25 qapik. There is no information about the technical innovations in the company that will ensure high traffic speed.
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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