From January to August 2015 tank oil production in Azerbaijan, including gas condensate, totaled 27,876,100 tons. During the same period last year oil production totaled 28,552,300 tons, reported the Azerbaijan State Statistical Committee.
During 8 months, 215 the volume of tank oil produced in Azerbaijan decreased by 2.37%.
According to Turan, in August 2015 3,386,000 tons of tank oil was extracted in Azerbaijan (109,200 tons a day). In January 2015 oil production totaled 3,658,900 (118,003 tons), in February 2015 – 3,285,000 (117,300) tons and in March – 3,601,200 tons (116,200 tons).
The Centre for Oil Studies Caspian Barrel forecasts that in 2015 Azerbaijan will extract about 41.2 million tons of tank oil.
According to the official statistics, in 2014 Azerbaijan produced 41,892,900 tons of tank oil.
Turan agency reminded that at the end of last year SOCAR Vice President Rakhman Gurbanov said at a conference in Baku that in 2015 oil extraction is expected to total 40.7 million tons. He did not specify if this is the volume of tank oil or a total volume.—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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