Azerbaijan seeks to increase the supply of oil to the Asian markets, writes Reuters. So, Eikon data show that in October, Azerbaijan sent to China, Taiwan and India nearly 7 million barrels of oil - it is the highest since the beginning of the fixation of the index in January 2015.
The publication notes that consuers in Asia, which account for a third of global oil supplies, with excitement are watching the way the producers of OPEC - their biggest suppliers - openly discuss price support. Buyers say that in the context of availability of supplies from outside OPEC, they will consider new sources, if the organization ceases to offer a reasonable price.
Forbes noted that if OPEC agreed to reduce oil production, the Asian markets will begin to get oil from countries outside the cartel. The figures show that Azerbaijan has already started to actively capture the position in this part of the world. -0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review