On Monday Mexican state-run oil company Pemex announced beginning of oil export to Europe to diversify export and strengthen positions at the world market of energy carriers.
The company reported that the deliveries of Olmeca light oil will begin in January 2014. It was earlier delivered to the US oil refineries and insufficient volume to the Dominican Republic.
Pemex branch PMI Comercio Internacional will be in charge of the deliveries to Europe. The volume of deliveries is yet to be specified.
At the end of December 2013 Mexico adopted the energy field reform. During the reform Pemex, which is being under control of the government since 1938, will get the right to conclude contracts with the private companies and attract private investments.
According to Pemex’s estimates, after the reform the oil production will be increased from the current 2.5 million up to 3 million barrels a day by 2018 and gas production will be doubled from the current 175.5 million cub.m. a day.—0—
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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