BP’s Azeri Oil Output Declined

BP’s Azeri Oil Output Declined Output from Azerbaijan’s Azeri-Chirag-Guneshli (ACG) oilfields declined to an average 656,000 barrels per day (bpd) in the first half of 2014 from 672,000 bpd in the same period last year, BP-Azerbaijan said in a statement. BP said earlier this year that oil production at the ACG fields might be slightly lower than in 2013 as the company planned maintenance work at the Central Azeri and West Azeri platforms,... Read More

The National Interest Cites CESD Reports

The National Interest Cites CESD Reports The National Interest, a leading American international affairs magazine, cited CESD’s report, “Peak Oil: The End of the Oil Age in Azerbaijan,” in its January 18, 2012 article entitled “Tough Year Looms for Azerbaijan”: “The Center for Economic & Social Development, a think tank in Azerbaijan focused on the country’s sustainable economic development, stated in a November 2011 report that... Read More

Azerbaijan produces over 15 bn cubic meters of gas

Azerbaijan produces over 15 bn cubic meters of gas In January-November, Azerbaijan produced 15.7 bn cubic meters of marketable gas, according to the State Statistical Committee.  In 2011, Azerbaijan produced 25.7 bn cubic meters of gas. According to government forecasts, in 2012, the country is expected to produce 28.28 bn cubic meters of natural gas.  Read More

Azerbaijan produces over 11bn cubic meters of gas

Azerbaijan produces over 11bn cubic meters of gas In January-August 2012, Azerbaijan produced 11,4bn cubic meters of marketable gas. Compared to the same period of last year, production of marketable natural gas has increased by 5.7%, according to the State Statistical Committee. In 2011, Azerbaijan produced 25,7bn cubic meters of gas. According to government forecasts, in 2012 the country is expected to produce 28,28bn cubic meters of natural gas.  Read More

1 trillion cm of gas extracted in Shah Deniz

1 trillion cm of gas extracted in Shah Deniz In 1997-2011, 1.9 bn barrels of oil were extracted from Azeri-Chirag-Guneshli fields, said the BP-Azerbaijan’s report on Sustainable Development. Along with summary of business activity of BP in Azerbaijan during 2011, performances in economic and social spheres were reflected in the report, APA reports. Report says that, 1 trillion cm of gas has been extracted from Shah Deniz so far.  Read More

Oil Output fell by 7,0 % in Azerbaijan

Oil Output fell by 7,0 % in Azerbaijan Azerbaijan Produced 14,8 million ton oil and 6,0 billion cubic meters gas in the first four months of 2012. According to the State Statistical Committee 15,9 million ton and 8,4 billion cubic meters gas produce in the same period of 2011. Oil output decreased 7,0 % in the first month of 2012, meanwhile the production in mining sphere of industry in January-April decreased by 5.3% compared to the same period of... Read More

SOCAR’s Assets Reached $ 22 Billion

SOCAR’s Assets Reached $ 22 Billion Assets of the State Oil Company of Azerbaijan (SOCAR) amount to 17 billion manat ($ 22 billion), SOCAR Vice-President on economic issues Suleyman Gasimov said during a forum on creating a new complex for oil and gas processing and petrochemical production in Azerbaijan on Wednesday. He said last year the company’s net profit amounted to 879 million manat. Transition to international financial reporting standards... Read More