SOCAR has been considering possibility of buying some assets of Rosneft company in Russia. “Within several weeks the documents could be possibly signed. The assets have been named, but there are many candidates, because everyone would like to cooperate with Rosneft,” SOCAR President Rovnag Abdullayev told journalists after his talks with Rosneft President Igor Sechin at IP Week.
Two sources familiar with the situation told Interfax that SOCAR has considered purchase of Polyarnoye Siyaniye company from Rosneft, which has been eventually purchased by the company owned by Aleksei and Yurii Khotin (including ConocoPhillips’s share).
Commenting on SOCAR’s interest in Polyarnoye Siyaniye, representative of Azeri company told journalists: “There are many assets in Russia that are under consideration.”
In May 2014 SOCAR and Rosneft created a joint venture, which is also involved in production. But the JV has not been operating yet.--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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