Number of the countries requesting the Azerbaijani officials to consider possibility of investment into construction of oil refinery on their territory grows. This happened SOCAR laid foundation of a big oil refinery in the Turkish city of Izmir with the annual capacity of refining of 10 million tons in October 2011.
In January 2012 Kyrgyzstan President has made the same request to Azerbaijani President and this project is on the agenda now. Later now Tajikistan made the similar request to Azerbaijani. Ukraine has repeatedly proposed Azerbaijan to build oil refinery on its territory.
This time the former OPEC member-state Indonesia has proposed Azerbaijani to be involved in construction of oil refinery on its territory, Tamerlan Garayev, Azerbaijani Ambassador to Indonesia and Singapore, told journalists last week.
He said Azerbaijan is the second biggest partner of Indonesia on crude oil deliveries after Saudi Arabia.
Garayev added that in 2011 Azerbaijan delivered to Indonesia crude oil worth $1.7 billion. "This year this figure will most likely grow up to $2 billion," he said.
In November 2012 Azerbaijani President will pay an official visit to Indonesia and Singapore.
* SOCAR Trading company is in charge of Azerbaijani oil deliveries from Ceyhan port to Indonesia. It manages its trade operations in South-East Asia from its representation in Singapore.-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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