OPEC: Oil output in Azerbaijan will fall by 40,000 bpd in 2017

OPEC: Oil output in Azerbaijan will fall by 40,000 bpd in 2017 According to OPEC’s monthly oil market report has recently published, Azerbaijan’s oil supply is anticipated to average 0.85 million barrels per day (bpd), indicating a decline by 10,000 bpd in output in 2016. OPEC also expects decline in oil production in Azerbaijan by 40,000 bpd in 2017 due to a lack of new project start-ups. June 2016 oil output in Azerbaijan declined by 10,000... Read More

OPEC keeps Azerbaijan’s oil output forecast unchanged

OPEC keeps Azerbaijan’s oil output forecast unchanged OPEC kept its forecast on Azerbaijani oil production unchanged at 0.96 million barrels per day (bpd) for 2012 and 2013. “Azerbaijan oil production is predicted to remain steady in 2012 and average 0.96 million bpd, flat compared to the previous month,” OPEC’s September oil market report says. According to OPEC forecasts, the country’s oil production will amount... Read More

CESD Oil Strategy Receives Official Support

CESD Oil Strategy Receives Official Support Government of Azerbaijan started balancing oil outputs over years Azerbaijan must keep oil output at the current level, Minister of Industry and Energy Natig Aliyev said at the CEIBS meeting. To him, Azerbaijan should not increase oil production in the upcoming period: “The country has reached the goal on development of oil industry, which was set in 1994. Increase of output may have some sedition.... Read More