During June 2015 State Oil Company of Azerbaijan (SOCAR) did not ship oil from the Novorossiysk port, reported SOCAR.
During six months this year Azerbaijan has shipped 678,046 tons of oil exported via the Baku-Novorossiysk oil pipeline from the Novorossiysk port, up 33.4% against the same period last year.
A source from SOCAR told Turan that this is a statistical growth. In real life since early year oil has not been exported in this direction. At the end of last year one batch of oil export was dated as January 2015.
SOCAR reported that in June 2015 Brent oil was sold at the world markets at an average price of $61.69 per barrel, Urals oil - $62.51 per barrel and BTC FOB Ceyhan oil - $62.73 per barrel.
In 2014 SOCAR shipped 932,155 tons of oil from the Novorossiysk port.
Since 1997 Azerbaijan has been transporting its oil via the Baku-Novorossiysk pipeline.—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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