In 2014 34.6 million tons of oil was transported via the Baku-Tbilisi-Ceyhan (BTC) oil pipeline against 33 million tons in 2012, reported the Azerbaijan State Statistical Committee.
“Last year three quarters of all oil transported via the oil pipelines of the country fell to the BTC pipeline,” reads the report.
According to the Committee, during this period 45.8 million tons of oil was transported via the oil pipelines of the country, up 5.1% against 2013.
* Total length of the BTC oil pipeline is 1768 km, of which 443 km lie through Azerbaijan, 249 km in Georgia and 1076 km in Turkey. Construction of the pipeline started in April 2003 and it was filed with oil on May 18, 2005.
The shareholders of BTC Co are BP (30.1%), SOCAR (25%), Chevron (8.9%%), Statoil (8.71%), ТРАО (6.53%), Eni (5%), Total (5%), Itochu (3,4%), Inpex (2.5%), ConocoPhillips (2.5%) and ONGC (2.36%).—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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