Will Oil Output be increased next year?

Will Oil Output be increased next year? Currently action program for 2013 on the Azeri-Chirag-Gunashli (ACG) is being revised.  The statement came from President of SOCAR Rovnag Abdullayev. According to him, oil production in 2013 will be higher than in 2012. He also said a new long-term program until 2020 would be prepared in order to provide for long-term stable production in the volume of 35 million tons of oil annually at the ACG. According to... Read More

Azerbaijan’s key oil producer cuts daily oil output

Azerbaijan’s key oil producer cuts daily oil output In the 1st quarter of 2012 the BP–led consortium Azerbaijan International Operation Company (AIOC) decreased oil production from contract field block Azeri-Chirag-Gunashli in the Azerbaijani sector of the Caspian Sea by 0.8% compared to the 2011 average level. BP Azerbaijan informs that over the past quarter of 2012 the block produced on average 711,800 bpd against 717,600 bpd on average for... Read More

BTC pumped 32m tons of Azeri oil in 2011

BTC pumped 32m tons of Azeri oil in 2011 The Baku-Tbilisi-Ceyhan (BTC) oil pipeline transported more than 32.22 million tons of Azerbaijani oil in 2011, down from 37 million tons reported in 2010, the state oil company Socar said Monday. In December alone, over 2.16 million tons of crude were pumped via the pipeline, which pumps oil produced from Azerbaijan’s Azeri-Chirag-Gunashli (ACG) block of fields in the Caspian Sea and condensate from the... Read More

Turkey’s Botas withdraws lawsuit against BTC project

Turkey’s Botas withdraws lawsuit against BTC project Botas, the operator of the Baku-Tbilisi-Ceyhan pipeline in Turkey, has withdrawn a lawsuit against the pipeline project, Haberturk newspaper said Friday. Earlier, Botas International Limited (BIL) filed a lawsuit against the project claiming that if the company continues to operate the BTC under the existing terms, it will incur losses to the tune of $2 billion by 2045. Turkey and Azerbaijan made... Read More

Azerbaijan’s oil exports down 18 pct in November

Azerbaijan’s oil exports down 18 pct in November Azerbaijan’s oil exports decreased 18.2 percent in November in comparison with the previous month, according to the state oil company SOCAR. Nearly 2.15 million tons of Azerbaijani crude were pumped to the Turkish Mediterranean port of Ceyhan through the Baku-Tbilisi-Ceyhan (BTC) main export pipeline last month. Vugar Bayramov, who heads the Center for Economic and Social Development (CESD),... Read More