Azerbaijani oil output: In permanent decline?

Azerbaijani oil output: In permanent decline? The State Statistics Committee of Azerbaijan has reported that the country produced 12.6 million tons of oil in the first four months of 2017 that was by 9.5% less compared with the period of 2016. Oil stocks as of 1 May 2017 reached 414,700 tons against 629,300 tons by 1 April and 410,200 tons by 1 January 2017. In 2016 the country produced 41.03 million tons of oil that was less than production for 2015... Read More

Azerbaijani oil export declined by 4.5 %

Azerbaijani oil export declined by 4.5 % Azerbaijan exported 5 million 374 thousand 87 tons oil through the Baku-Tbilisi-Ceyhan pipeline in the first four months of 2017. Meanwhile, 878 thousand 664 tons oil exported through Supsa and 489 thousand 206 tons by Novorossiyski. It means that Azerbaijan exported 6 million 741 thousand 959 tons oil in the indicated period. According to the SOCAR’s report, Azerbaijan exported 5 million 741 thousand 694... Read More

Azerbaijani Oil Export Declined by 23.7 % in April 2016

Azerbaijani Oil Export Declined by 23.7 % in April 2016 State Oil Company of Azerbaijan Republic (SOCAR) exported 159 599 tons of crude oil from Novorossiysk port, 176 598 tons from Supsa port, 1 112 953 tons from Ceyhan port in April 2016.Generally, 239 536 tons of crude oil was exported from Novorossiysk port, 776 198 tons from Supsa, 5 741 694 tons from Ceyhan port, 14 946 tons from Kulevi port in January-April 2016. Download Full Report Here  Read More

CESD Research Paper: The Economy of Azerbaijan in 2015: Independent View

CESD Research Paper: The Economy of Azerbaijan in 2015: Independent View In 2015, the expansion of the US economy accompanied with improved employment rates led the FED to switch to contractionary monetary policy. On the other hand, the second largest economic power-China encountered a lower long-term economic growth rate with a fall in exports, and thereby adversely affecting global economic activity. Moreover, the rapid decline of prices in global... Read More

Crude Oil Price in the 2016 state budget will decline by 45.0 %

Crude Oil Price in the 2016 state budget will decline by 45.0 % The Ministry of Finance of Azerbaijan has started drafting State Budget 2016. The Ministry has reported that with taking into account events at the world energy market, in particular declining trends in oil prices, the State Budget oil price will be set at the level of $50 US per barrel. The price of crude oil in 2016 state budget will be decreased by 45.0 % since it is $ 90 US per barrel... Read More

Azerbaijani Oil Income in March 2015

Azerbaijani Oil Income in March 2015 Oil export declined by 26.0 % in March 2015 Azerbaijan exported 1 million 396 thousand tonnes oil was exported through all existing pipelines in March 2015. SOCAR Marketing and Economic Operations Department exported 169 thousand 470 tons of crude oil from the Novorossiysk Port, 254 thousand 3 tons of crude oil from the Supsa Port, and 1 million 226 thousand 280 tons of crude oil from the Ceyhan Port in March 2015.... Read More