Next year SOCAR does not plan to start dismantling of Azerneftyag oil refinery, which specializes in manufacture of heavy fractions.
SOCAR Vice President Davud Mammadov said that there is no need in that.
“Azerneftyag oil refinery has merged with the Heydar Aliyev oil refinery early last year. However, the process of Azerneftyag oil refinery shutdown is going on. This process will be completed in five years,” SOCAR Vice President said.
He said dismantling the shutdown oil refinery is not planning now. This issue could be discussed in 2-3 years.
A source from SOCAR told Turan that currently Azerneftyag has one operating installation manufacturing bitumen. After upgrade the bitumen installation will be put into operation on the Heydar Aliyev oil refinery in mid-2018. According to the instructions, the new installation will be first tested for 4-5 months and then by 2019 Azerneftyag will suspend its operations. Azerneftyag will need over a year and a half for dismantling of equipment and cleaning the site.—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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