Is Decline in Azerbaijan’s oil output planned step?

Is Decline in Azerbaijan’s oil output planned step? Azeri Government says “yes” A decline in oil production in Azerbaijan is due to change of plans regarding time-frame of development of oil reserves in the country, Azerbaijani State Statistics Committee Chairman Arif Veliyev said on Monday. “The decline in production in Azerbaijan is not associated with a decline in oil reserves level, but with the extension of their development time-frame to get yield for a longer... Read More

Azerbaijan Economy in the first quarter of 2012

Azerbaijan Economy in the first quarter of 2012 Decline wave in production sector keep on the first quarter of 2012 in spite of the fact that Government of Azerbaijan has been trying to attain expansion in above mentioned sector.  Considering keeping still high portion of oil sector in total GDP, decline in oil sector noticeably reduce economic growth rate in Azerbaijan. Oil sector is still dominant in both GDP and budget revenues based on the results of the first quarter of... Read More