Azeri Oil Output Declined in the first five months of 2014

Azeri Oil Output Declined in the first five months of 2014 Azerbaijan produced 17.7 million tonnes of oil and gas condensates in the first five months of 2014, versus 18.12 million tonnes in the same period of 2013, the Azerbaijan State Statistical Committee reported on June 12, 2014. The output declined by 2.3 % in the indicated period of 2014 compared to the same passé in previous year. The most part of the produced oil fell to the Azeri-Chirag-Guneshli... Read More

BTC pipeline oil export declined by 3,3 %

BTC pipeline oil export declined by 3,3 % 15, 18 million tons oil was exported through the Baku-Tbilisi-Ceyhan pipeline in the first half of 2013 according to the State Oil Company of Azerbaijan Republic. Export declined by 502 thousand tons compared in the indicated period with the same period in 2012. In January, the pipeline exported 2.577 million tons, in February – 2,327 million tons, in March – 2.438 million tons, in April –... 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

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

Azerbaijani oil export via Ceyhan tops 170m tonnes

Azerbaijani oil export via Ceyhan tops 170m tonnes Azerbaijan exported over 32m tonnes of oil via Turkey’s Mediterranean port of Ceyhan in 2011, and 170m tonnes since it started using the port in 2006. On December 2011, 2,187,122 tonnes of Azerbaijani oil were exported via Ceyhan, of which 1,645,024 tonnes belongs to the State Oil Fund of Azerbaijan,Gun.Az reports, citing figures from state oil company SOCAR. In the 2011 as a whole, Azerbaijan... 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 Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More