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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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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