In January 2015 SOCAR had a slight decline of oil production.
According to SOCAR’s statistics, in January 2015 it extracted 712,300 tons of oil, down 0.5% against January 2014.
In January 2015 oil production in Azerbaijan totaled 3,667,600 tons, up 0.7% against January 2014.
According to the State Statistical Committee, in January 2015 the country extracted 3,668,100 tons of oil.
In 2014 total volume of oil production in Azerbaijan reached 41.9 million tons, of which 8,402,500 tons of oil was extracted by SOCAR.—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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