From January to October 2012 SOCAR exported 17,091,090 tons of oil via the Baku-Tbilisi-Ceyhan (BTC) pipeline. Export via the pipeline dropped by 2,777,000 tons against the same period last year.
Reduction of oil transportation via BTC is connected with reduction of oil production on Azeri-Chirag-Guneshli (ACG) bloc of fields.
In January 2012 oil export via BTC was 1,9097 million tons, in February - 1,359 million tons, in March - 1,901 million tons, in April - 1,847 million tons, in May - 1,716 million tons, in June - 1,618 million tons, in July - 1,886 million tons, in August - 1,612 million tons, in September - 1,654 million tons and in October - 1,585 million tons.
* 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%), Amerada Hess (2.36%), ENI (5%), ConocoPhilliрs (2.5%), Inрex (2.5%), 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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