SOCAR (State Oil Company of Azerbaijan) refuted the message of the organization of Azerbaijani political refugees in Europe.
In particular, it was alleged that the three Swiss companies registered under the name «SOCAR», were founded by private individuals, including the head of SOCAR Rovnag Abdullayev.
The report of SOCAR reads that “SOCAR Trading SA” was established in December 2007 in Geneva to provide independent output and flexibility of the export of Azerbaijani oil to world markets.
The founder of "SOCAR Trading SA" is a "Supra Holding Limited", in which SOCAR’s interest was 50%, and now it is 80%.
Among the founders of the "SOCAR Trading SA" and "Supra Holding limited» there were not private individuals.
Persons presented as a founding individuals are members of the board. Some of them occupy high positions in the SOCAR Trading SA, and others in the SOCAR.
As for the Deputy Director General of "SOCAR Trading SA" Zaur Gahramanov, he is not included in the board of the company.
As for the “SOCAR Black Sea”, it was created to export oil products to Ukraine by the "SOCAR Trading SA" and Ukrainian "ROSSİM".
Finally, the third company was established due to buying by SOCAR a Swiss subdivision of the American company "ExxonMobile" - "Esso Schweiz GmbH". To manage the stores, located at the territory of the acquired filling stations, a contract was signed on the establishment of an alliance with a reputable food selling company "Migros". –06D-
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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