State Oil Company of Azerbaijan (SOCAR) published the statistics of hydrocarbon production in January 2015.
According to this information, in January 2015 the country extracted 2,496,000,000 cub.m. of gas, down 7.2% against January 2014.
According to the Azerbaijan State Statistical Committee, the production totaled 2,493,000,000 cub.m., of which 1,759,900,000 cub.m. was tank gas. According to the Committee, the decline of gas production constituted 6.6%, though the growth of tank gas production constituted 7%.
The difference between SOCAR’s statistics and SOCAR during one month was about 3 million cub.m..
It is also unknown why in January 2015 SOCAR’s gas production decreased by 17.6% against January 2014.
According to SOCAR, in January 2015 it extracted 570.2 million cub.m. of gas, though in January 2014 SOCAR extracted 691.5 million cub.m. of gas.—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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