In October 2013 oil export via the terminal of the Caspian Pipeline Consortium (CPC) increased by 37.3% against October 2012 up to 3,059,000 tons, reported CPC.
Since early year oil export via the CPC terminal totaled 27.2 million tons, up 8.3% against a year earlier (25.2 million tons).
CPC is the pipeline system connecting Kazakhstan with the sea port in Novorossiysk, where oil is loaded on the tankers for their further shipment to the world markets.
The CPC shareholders include Russian Federation, which owns 31% share (represented by Transneft with 24% and CPC Company with 7%), Kazakhstan with 20.75% (represented by Kazmunaigas – 19% and Kazakhstan Pipeline Ventures LLC – 1.75%); Chevron Caspian Pipeline Consortium Company – 15%, LUKARCO B.V. – 12.5%, Mobil Caspian Pipeline Company – 7.5%, Rosneft-Shell Caspian Ventures Limited – 7.5%, BG Overseas Holding Limited – 2%, Eni International N.A. N.V. – 2% and Oryx Caspian Pipeline LLC – 1.75%, reported http://www.biztass.ru. –0--
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