In October 2013 oil production in Russia reached maximum since the USSR collapse and totaled 10.59 million barrels a day.
Now Russia occupies the first place in the world on oil production, writes Reuters. In September 2013 it totaled 10.53 million barrels a day.
In October 2013 natural gas production increase by 14% and totaled 2.02 billion cub.m. a day.
Capitalization of the biggest oil and gas companies of Russia grows in parallel with growth of natural resources extraction.
Since mid-August 2013 shares of Gasprom, Rosneft and LUKoil companies have been going up. The growth of cost of securities is also caused by the foreign conjuncture at the world stock markets.—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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