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... Read More

SOCAR Oil Export Declined by 7 % in the first quarter of 2012

SOCAR Oil Export Declined by 7 % in the first quarter of 2012 The State Oil Company of Azerbaijan exported 5,2 million tonnes of oil via all routes including Baku-Novorossiysk, BTC and Baku-Supsa pipelines in the first quarter of 2012 which is 7,2  % lower than compare with the same period last year. SOCAR exported 5,6 million tonnes in the first three months of 2011 . Sources at the SOCAR mentioned that Baku-Novorossiysk exported 496,8 thousand... Read More