During 2013 China imported 280 million tons of oil, up 4% against the same period last year, reported Chzhen Yue, official representative of the Chinese Main Customs Department.
Despite slowing down of GDP growth, demand in the energy carries has been growing in China.
According to the Chinese Ministry of Land and Natural Resources, in 2013 China’s dependence on oil import constituted 57% and by 2020 this index could grow up to 67%.
For this reason average daily oil consumption in China could increase from 10.2 million barrels in 2013 up to 10.6 million barrels in 2014.
China is the world second oil consumer after the US. In 2013 oil import by China totaled about 5.66 million barrels a day, when US imported 7.81 million barrels a day.
During 2013 China extracted 220 million tons of oil.—0--
Economics
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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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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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