US ExxonMobil and Chemlube INT Inc companies with participation of local specialists have worked out the project of reconstruction of the oil refinery in Turkmenbashi city, reported the Turkmenistan Ministry of Oil and Gas Industry and Mineral Resources.
The same source said that the US companies have worked out the project for reconstruction of the installation for manufacture of oils by introduction of the catalytic isodeparaffination process.
“As soon as the project is implemented, the plant will be able to increase production of oils by 100,000 tons a year and start manufacture of new types of the so-called hydro-synthetic oils,” the same source said.—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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