In May 2016 oil export from the US increased by 12% up to a record 662,000 barrels (without condensate) against 591,000 barrels a day in April, according to the statistics.
US exports oil to the following countries: Canada (308,000 barrels a day), Netherlands (110,000 barrels a day), Curacao (67,000 barrels), UK (36,000 barrels), Japan (29,000 barrels) and Italy (23,000 barrels), reported TACC.
According to the US government, total export index has become the highest since 1920.
In June 2016 Azerbaijan exported over 650,000 barrels of oil a day to the world markets (without condensate).—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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