Azerbaijani Energy Minister Natig Aliyev is sure that as soon as Azerbaijan transits to import of AI-95 petrol, there will be competition at the local market.
“Everybody will be allowed to import AI-95 petrol, but this is applied only to AI-95 and AI-98 petrol,” Minister said.
He said this means liberalization of the market with preservation of certain state control.
SOCAR has earlier requested the government to suspend Ai-95 production at Heydar Aliyev oil refinery and fully transit to production of Ai-92 petrol. It is planned to import Ai-95 petrol. Ai-98 petrol is imported into the country since 2011.
SOCAR President Rovnag Abdullayev said that the measures are taken to satisfy the growing demand in petrol in Azerbaijan.—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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