In January 2014 SOCAR exported 1,592,000 tons of profitable oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline.
SOCAR reported that export via the pipeline increased by 163,000 tons against January 2013. In January 2013 export totaled 1,429,000 tons.
In January 2013 SOCAR exported 19,748,000 tons of profitable oil via BTC.
The oil pipeline is 1768 km long, of which 443 km are located in Azerbaijan, 248 km in Georgia and 1,076 km in Turkey. The shareholders of BTC Co pipeline company are BP (30.1%), SOCAR (25%), Chevron (8.9%), Statoil (8.71%), TPAO (6.53%), Itochu (3.4%), ONGC (2.36%), ENI (5%), ConocoPhilliрs (2.5%), Inрex (2.5%) and Total (5%). –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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