In January and February 2016 average export price of Azerbaijani oil was $34.02 per barrel
In January and February 2016 Azerbaijan exported 5,275,622 tons of oil, down 4.2% against the same period last year.
According to the meters of the State Customs Committee, in January and February 2016 4,490,049 tons of oil was exported via the Baku-Tbilisi-Ceyhan oil pipeline (including 411,385 tons of gas condensate from the Shah Deniz field), 725,287 tons via the Baku-Supsa oil pipeline, oil was not transported via the Baku-Novorossiysk oil pipeline and 59,848 tons was transported to the Georgian ports by railway.
According to the Committee, in January and February 2016 the volume of declared exported oil totaled 3,735,594 tons to the amount of $940,495,011. In January and February 2016 average export price of Azerbaijani oil totaled $251.76 per 1 ton or $34.02 per barrel.—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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