Oil production in Azerbaijan; to decline or to rise?

Oil production in Azerbaijan; to decline or to rise?

CESD:  “Latest government forecast on oil production is not realistic

Azerbaijan’s oil production to rise by 12% by 2016”- such idealistic forecast distributed by government news agencies after CESD announced its oil production forecasts. The government report says that oil production in Azerbaijan in 2015 is expected at 50,956,600 tonnes, up by 11.8% over 2011. But the report does not cite exact source of this forecast, just source of the news is illustrated as “sources in the government”. The report added that “under the state forecast, oil production will continue to grow in 2012-2014. In particular, in 2012 country’s oil production is predicted at 45,977,100, in 2013 at 45,896,600 tonnes, and in 2014-at 49,562,900 tonnes of oil. As forecasted, this year oil production will hit 45,551,300 tonnes”…Download full article here

 

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