From January to June 2015 tank oil production in Azerbaijan, including gas condensate, totaled 24,490,100 tons, down 1.8% against the same period in 2014, reported the Azerbaijan State Statistical Committee.
Table of tank oil production in Azerbaijan:
Months | Volume (thousand tons) |
January | 3658,9 |
February | 3285,0 |
March | 3601,2 |
April | 3650,9 |
May | 3416,5 |
June | 3329,8 |
July | 3547,8 |
By August 1, 2015 oil resources at the warehouses totaled 328,400 tons against 384,100 tons by July 1, 2015.
Last year production totaled 42,041,800 tons. Last year the peak oil production fell to August – 3,751,500 tons.—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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