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

Azerbaijani Oil Export in Decline

Azerbaijani Oil Export in Decline Azerbaijan State Oil Company (SOCAR) reported that a total of 24,357,746 tons of Azerbaijani crude oil was exported to world markets through the Baku-Tbilisi- Ceyhan (BTC) port in the first ten months of 2013. The export was 2,414,780 tons in October, 2013. Azerbaijani oil export through BTC in the first ten months of 2013 declined by 1,0 % compared to the same period of 2012. More than 24,594 million tons oil was... Read More

Decline in Azeri Oil Export

Decline in Azeri Oil Export BTC Oil export declined 13,0 %, Baku-Supsa Oil export fall by 20,0 % in the first half of 2012 The State Oil Company of Azerbaijan exported 10,4 million tons by Baku-Tbilisi- Ceyhan (BTC) pipeline in the first half of 2012. According to sources in SOCAR, export made 1,9 million tons in January, 1,4 million tons in February, 1,9 million tons in March, 1,9 million tons in April, 1,7 million tons in May, 1,6 million tons in... 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

Oil Contributes 87,0 % of Total Export in Azerbaijan

Oil Contributes 87,0 % of Total Export in Azerbaijan The share of crude oil in Azerbaijan’s overall export made up 86.29% against 86.62% in 2011, 86.53% in 2010 and 81.57% in 2009. In the first quarter of 2012 oil export grew by 6.76% versus last year’s same term. The State Customs Committee (SCC) informs that for Jan-Apr 2012 the country’s oil export reached 12.086 million tons (5.989 million tons in April is still the best index of the year)... Read More