![SOCAR temporarily suspended production of motor fuel](https://turan.az/resized/media/2014/main/040400074385-750-500-resize.webp)
SOCAR temporarily suspended production of motor fuel
State Oil Company of Azerbaijan (SOCAR) has temporarily suspended production of motor fuel, a source from SOCAR told Turan.
The reason is that yesterday SOCAR started major repair of the big installations at the Heydar Aliyev oil refinery, which manufacture fuel. It is planned to repair the primary oil refining installation (the installation is very important for the petrol production), installation of the catalytic reforming and the catalytic cracking installation.
Early this year SOCAR administration announced the forthcoming repair works at the Heydar Aliyev oil refinery. The repair works will take about three months. During this period the local market will be supplied with the imported oil products. In February 2014 the government made a decision to reduce excises of petrol types Ai-92 and Ai-80 as twice, diesel fuel – by 3.2 times, jet engine fuel – by 7.6 times, naphtha – by 5.4 times, liquefied gas – by 3 times, motor fuel (DT-36) – by 7 times, motor fuel (DT-20) – by 5.2 times, black oil -by 49 times and bitumen (BN – 60/90 and BMB 60/70) – by 16.4 times to regulate the prices.
This is a temporary measure and as soon as the new installations are launched after the repair, the production will be resumed and the oil products import will be suspended.—0—
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review