According to the forecasts of the international consortium, in September 2012 it is planned to export 20.4 million barrels of oil from Azeri-Chirag-Guneshli (ACG) fields via the Baku-Tbilisi-Ceyhan (BTC) pipeline.
Profitable oil is expected to make 13.6 million barrels from a total volume of oil exported in September. Next month 66.7% of oil pumped via BTC will fall to the profitable oil of the state.
In September 2011 37 million tons of oil was exported via the BTC pipeline.
The international consortium forecasts that in September Azerbaijan will get 2.4 million barrels as profitable oil out of oil pumped via Baku-Supsa pipeline, via which oil produced on Chirag field is delivered to the world markets. During a month it is planned to load 4 tankers with 600,000 barrels of oil in Supsa.
In September 2012 State Oil Company of Azerbaijan plans to pump 160,000 tons of oil via the Baku-Novorossiysk pipeline. During 2012 it is planned to export 1.7 million tons of oil via this route. In 2011 SOCAR exported 1.99 million tons via the Baku-Novorossiysk pipeline.
In September Azerbaijan forecasts to get 16 million barrels (2,160,000 tons) of profitable oil from ACG. With average oil price of $110 per barrel, Azerbaijan's incomes within the Contract of the Century would total $1.76 billion (without tax deduction).-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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