Oil production in Azerbaijan in January-September 2016 amounted to 31 million 268.2 thousand tons, which is 0.3% less than the same period last year. This was in the monthly report of the State Statistics Committee of Azerbaijan.
According to the State Statistics Committee, the volume of commercial oil production in the country in January-September 2016 amounted to 31 million 221.9 thousand tons (decline by 0.3%).
Gas production in January-September 2016 was 22 billion 51.4 million cubic meters (3.8% growth). Output of marketable gas in the country during the reported period amounted to 13 billion 771.2 million cubic meters (1.6% decline).
In 2015, Azerbaijan's oil production, including gas condensate, amounted to 41 million 689 thousand tons, and the production of marketable gas was 19.72 bcm. -12D--
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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