SOCAR to continue implementation of projects and investing into Turkey, says Rovnag Abdullayev
State Oil Company of Azerbaijan (SOCAR) will continue implementation of projects and investing into Turkey, SOCAR President Rovnag Abdullayev said in his interview to Turkish Anadolu agency.
“We are determined to continue implementation of the projects with a total value of over $18 billion with the purpose to supply Europe with energy. 40,000 SOCAR’s employees work in Turkey directly or indirectly,” Abdullayev added.
He reminded that in the near future the biggest container port in the Aegean Sea will be opened in Turkey and Star oil refinery will be launched in 2018.
“Our activities in Petkim are a symbol of trust in Turkey and Turkish economy. Turkey is our home. We will continue investing into this country as we did before,” said SOCAR President.
Abdullayev said military coups are unacceptable in modern societies. They deliver a serious damage not only to the legal state and democracy, but also to the economic development of the countries. He has expressed deep concern about death of hundreds of people during the military coup attempt in Turkey and said: “We believe in the Turkish government, will of Turkish people, economy and safety.”—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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