In January 2015 oil production in Azerbaijan totaled 3.7 million tons, reads the information posted on the web site of the State Statistical Committee.
In January 2014 oil production in Azerbaijan totaled 3.6 million tons. Therefore, in January 2015 oil production in the republic increased by 2.7%.
However, it is unclear how the oil production growth has been achieved, if in 2015 the government planned decline of oil production in the country by 1.3 million tons against last year (by 108,000 tons a month).
In January 2015 tank gas production in Azerbaijan totaled 1.8 billion cub.m. (growth by 12.5% against January 2014).
In 2014 oil production in Azerbaijan totaled 41.9 million tons, while tank gas – 18.7 billion cub.m.
In 2015 the Azerbaijani government forecasts oil production at 40,615,600 tons, while gas production (including tank gas) – 28,420,000,000 cub.m.—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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