Since 2015 State Oil Company of Azerbaijan (SOCAR) will start gasoline production in correspondence with Euro-3 standards, David Mammadov, SOCAR Vice President for Refining, told journalists at the session of CEIBC while commenting on the statement of Ramiz Hasanov, chairman of the State Committee for Standardization, Metrology and Patent, about introduction of Euro-3 standard in Azerbaijan since January, 2014.
“The Euro-3 standard will most likely be applied to the engines of cars imported from abroad,” Mammadov said.
He said transition to Euro-5 standard fuel in Azerbaijan will be on a stage-by-stage basis.
“We plan to transit to Euro-5 in 2023-2025, when the new oil and gas refining complex is launched in Baku’s Garadag district.
Till that time Azerbaijan will manufacture Euro-3 standard fuel,” SOCAR Vice President.—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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