In 2015 SOCAR Trading SA (daughter company of SOCAR) sold 46 million tons of crude oil at the world markets, which is equal to the index of year 2014.
In 2015 out of total volume of oil sold by SOCAR Trading 23 million tons was Azerbaijani oil and another 23 million tons is oil of the third parties, said a source from the company.
SOCAR reported that in 2015 sales of Azerbaijani oil dropped by 8% against 2014 and sales of oil of the third parties increased by 9.5%.
Between 2008 and 2015 SOCAR Trading sold 279 million tons of crude oil at the world markets, of which 181 million tons was Azerbaijani oil and 98 million tons was oil of the third parties.
The company has started sale of the oil of the third parties in 2009.
SOCAR Trading SA has started its work in December 2007. The company is involved in sale of oil and gas at the international markets.
Currently the company has offices in Geneva, Singapore, Calgary, Dubai, London and Houston.—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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