Azerbaijan’s Energy Strategy: Source for Diversification ?

Azerbaijan’s Energy Strategy: Source for Diversification? Oil and gas as the primary natural hydrocarbons will continue to be the topic of discussion related to the global economy and world politics. As such, the rest of the world sees countries with vast oil and gas re- serves as having a strategic advantage. It is not a surprise that energy expert Daniel Yergin described oil in his book The Prize, the Epic Quest for Oil, Money & Power, as... Read More

Huge Decline in Oil Export

Huge Decline in Oil Export Baku-Tbilisi-Ceyhan pipeline exported 27,327 million tons of oil in the first eleven months of 2012. Compared to January-September 2011, exports decreased by 2,73 m tons, according to SOCAR. In January, exports amounted to 2,7m tons, in February -2,45m tons, in March – 2,7m tons, in April – 2,3m tons, in May – 2,801m tons, in June – 2,732m tons, in July – 2,12m tons, in August – 2,367m tons, in September –... Read More

Azeri oil export by BTC pipeline Decreased

Azeri oil export by BTC pipeline Decreased The Baku-Tbilisi-Ceyhan pipeline exported 20,7 million ton of oil in January-August.  According to sources in the State Oil Company of Azerbaijan, this is a drop of 2,1 million ton over January-August 2011. Export made 2,7 million ton in January, 2,5 million ton in February,  2,7 million ton in March, 2,3 million ton in April, 2,8 million ton in May, 2,7 million ton in June, 2,1 million  ton in July, 2,7... Read More

OPEC revises up forecasts on Azeri oil output

OPEC revises up forecasts on Azeri oil output Azerbaijan`s average oil production will increase by 20,000 barrels per day to 0.97 million bpd in 2012, OPEC said in its June oil market report, an upward revision of 10,000 bpd from the previous month`s forecasts. The revision is the result of updated production data in the first quarter, as well as adjustments to the rest of the year, OPEC said. The oil cartel forecasts that Azerbaijan`s oil production... 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

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

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