In 2013 production companies in Azerbaijan except BP extracted 8.3 million tons of oil
Yesterday State Oil Company of Azerbaijan (SOCAR) announced results of production of oil and condensate in 2013, except the operations of BP-Azerbaijan company (Azeri-Chirag-Guneshli oil bloc and Shah Deniz gas condensate).
The company has briefly mentioned this data on its web site under the column SOCAR. (Although by SOCAR it means Azneft, one joint venture, nine onshore operation companies and one offshore operating company). Thus, in 2013 SOCAR extracted 8,314,400 tons of gas against 8,242,500 tons in 2012.
During 2013 SOCAR’s production increased by 71,900 tons or by 0.85.—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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