Oil Output fell by 7,0 % in Azerbaijan

Oil Output fell by 7,0 % in Azerbaijan

Azerbaijan Produced 14,8 million ton oil and 6,0 billion cubic meters gas in the first four months of 2012. According to the State Statistical Committee 15,9 million ton and 8,4 billion cubic meters gas produce in the same period of 2011.

Oil output decreased 7,0 % in the first month of 2012, meanwhile the production in mining sphere of industry in January-April decreased by 5.3% compared to the same period of the last year.

Oil production also fell by 9.9% compared to March of the year. This year crude oil production by all producers in Azerbaijan totaled 110.16 million barrels against 338.467 million barrels in 2011, 379.224 million barrels in 2010, 375.807 million barrels in 2009 and 332.07 million barrels in 2008. In January it was produced 3.9 million tons, in February 3.539 million tons,  in March 3.847 million tons and in April- 3.468 million tons.

In 2011 the country was produced 45.37 million tons of oil that is by 11.5% less than production for 2010. In December 2011 the country was produced 3.165 million tons, and the highest production level was recorded last year in March – 4.104 million tons.

In 2010 oil production amounted to 50.8 million tons of oil, including 4.5 million tons in August (the best index for 2010). 42,5 million oil is forecasted to be produced in 2012.

© CESD, 2012

 

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