Oil production in Azerbaijan in January-October 2016 amounted to 34 million 718.5 thousand tons, which is 0.8% less than the same period last year, said the State Statistics Committee of Azerbaijan.
According to the State Statistics Committee, the volume of commercial oil production in the country in January-October 2016 amounted to 34 million 676 thousand tons (0.8% decline).
Gas production for 10 months in Azerbaijan amounted to 24,609.9 mcm (0.6% growth). Output of marketable gas in the country during the reporting period amounted to 15,490.7 mcm (5% decline).
In 2015, Azerbaijan's oil production, including gas condensate, amounted to 41 million 689 thousand tons, and gas – to 19,720 mcm. -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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