Kazakhstan intends to pump 4.5 million tons of oil to the European market via the Baku-Tbilisi-Ceyhan (BTC) through Azerbaijan in 2014, Amangeldy Zhumabayev, Kazakhstan Ambassador to Azerbaijan, said in his interview to Interfax-Azerbaijan agency.
“We have signed the agreement, according to which this year 4.5 million tons of oil will be pumped from the Tengiz field via the BTC pipeline. This means that this year Kazakh oil transportation will go up,” Kazakh diplomat added.
Kazakhstan has resumed transportation of its oil to the west via the BTC pipeline in October 2013.
Last year over 0.5 million tons of Kazakh oil was transported via BTC.—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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