2014 February 21 (Friday) 11:09:34
In January 2014 Heydar Aliyev oil refinery (owned by SOCAR) made 119,300 tons of petrol.
According to the Azerbaijan State Statistical Committee, petrol production dropped by 2.8% against the same period in 2013.
By February 1, 2014 the oil refinery’s warehouses accumulated 41,200 tons of products.
During 2013 Heydar Aliyev oil refinery made 1,407,000 tons of petrol. Petrol production went up by 8.5% against the same period in 2012.
SOCAR has two oil refineries, but only Heydar Aliyev oil refinery produces petrol. In April 2014 SOCAR is expected to suspend the Heydar Aliyev oil refinery for reconstruction for one month to increase the production capacities, in particular production of Ai-92 petrol.—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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