During 10 months, 2012 petrol manufacture in Azerbaijan decreased by 0.2% and totaled 1,068,900 tons, reads monthly report of the Azerbaijan State Statistical Committee.
From January to October Azerbaijan produced 1,195,000 tons of gasoline. Production of virgin gasoline totaled 126,700 tons, down by 23.8%.
During 2011 SOCAR manufactured 1,514,000 tons of gasoline. Production of automobile gasoline increased by 47,000 tons against 2010, while production of virgin gasoline increased by 14,027 tons.-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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