In January and February production of oil products in Azerbaijan decreased since 1 March of last year by 8% - to 389 million 276.1 thousand manat.
According to the State Statistics Committee, the largest decline occurred in the production of black oil - by 99.5% (200 tons), lubricating oils - by 65.8% (2.6 thousand tons), bitumen - by 53.4% (19.7 thousand tons) and kerosene - by 7.9% (106.6 thousand tons).
Growth in January and February was recorded in the production of gasoline by 0.7% (199.4 thousand tons), straight-run gasoline by 36.4% (20.6 thousand tons), and diesel fuel - by 18.3% (480 9 thousand tons).
All the production takes place at the Baku Oil Refinery named after Heydar Aliyev, which from 1 January 2015 included the refinery Azerneftyag. --17D-
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review