Royal Dutch Shell company has announced sale of its assets in Nigeria, reported Financial Times.
The consortium operated by Royal Dutch Shell, which also includes French Total and Italian Eni, has decided to leave the market. The companies’ oil blocks have been put for the auction.
The decision was made, because of numerous cases of oil theft and activization of the terrorist groups.
Nigeria has been having the problems of illegal cuts into the pipelines and oil thefts since long ago. This often leads to environment pollution and stoppages of oil deliveries. The Nigerian authorities have repeatedly said that they will punish the criminals. They believe that during 2012 number of such case significantly decreased.—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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