Iranian president urged investors to invest capital into oil and gas industry of the country
Iranian President Hasan Rouhani has offered the world oil and gas companies to invest $110 billion into the Iranian oil industry and $75 billion into the petrochemical field.
He also told to the representatives of big companies at the World Economic Forum in Davos that they could invest $33 billion into the railway projects in Iran. The statement was made at the meeting with about 30 top managers of big energy corporations within the framework of the forum, reported Fars agency.
Meanwhile, the Iranian Oil Ministry has decided to postpone the conference scheduled for April 2014 in London, where it was planned to present the new schemes of contracts with foreign investors in the oil industry. Mehdi Hosseini, head of the Committee created in the Ministry to draft new oil contracts, said that the conference will take place in July 2014. He also refuted statements of media about postponement of the conference till November 2014.--0--
Economics
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The monopolists of the Azerbaijani internet services market, LLC Aztelekom and LLC Baktelekom, have agreed to raise the minimum monthly internet package price from 18 AZN for 40 Mbps to 25 AZN for 100 Mbps starting August 15. Explaining the new price, these companies want to convince the public that the price has dropped since the internet speed will increase by 2.5 times, thus reducing the cost per Mbps from 45 qapik to 25 qapik. There is no information about the technical innovations in the company that will ensure high traffic speed.
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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