Closed-type joint stock company (JSC) SOCAR Petroleum, daughter of SOCAR, increased number of petrol stations under SOCAR brand name up to 21.
The new petrol station was launched in Pirsaat district, Hajigabul region.
In addition to this station, during 2016 SOCAR Petroleum plans to launch two more petrol stations in Shamakha city to expand its network of petrol stations.
SOCAR Petroleum was established in January 2008 and it is involved in retail sale of oil products by expanding network of petrol stations under SOCAR brand name. The company opened first petrol stations in Azerbaijan in May 2010.—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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