Oil Output Dropped by 4,0 % in Azerbaijan

Oil Output Dropped by 4,0 % in Azerbaijan   CESD forecasts decline in oil sector by 5,0 % in 2013 based on its econometric models and PSA matrix Azerbaijan produced 7,2 million tons of oil in January-February , 2013- The State Statistical Committee of Azerbaijan reported.  3,8 million tons were produced in January and 3,4 million tons in February. Oil production has dropped by 300,0 thousand tons or by 4,0 % over the same period of 2012. Meanwhile,... Read More

$ 1,5 billion Sterilization in Azerbaijan

$ 1,5 billion Sterilization in Azerbaijan “The Central Bank of Azerbaijan (CBA) has been keeping regulatory monetary policy to intervene in the market in order to keep the exchange rate of manat, national currency, for more than the decade.  CBA held currency sterilization in the amount of USD 1,584 billion in 2012 and manat against USD consolidated by 0.19%. The stability of the manat monthly cost of 135 million dollars. In this regard, the crucial... Read More

Trend of Decline in Azeri Oil Export

Trend of Decline in Azeri Oil Export CESD Forecasts decline in oil output by 5,0 % in 2013 Azeri oil export declined by 15.3% in January 2013 compared with the previous month according to State Oil Company of Azerbaijan (SOCAR). The company reports that it exported 1.67 million tons in January 2013 (compared to 1.976 million tons in December). Last year’s highest export occurred in July (2.36 million tons). In January 2013, 2,629 tons of oil was... Read More

Decline in SOCAR oil production in 2012

Decline in SOCAR oil production in 2012 The State Oil Company of Azerbaijan produced 8,241, million tons of oil in 2012. The statement came from sources in SOCAR.  Production made 706,638 tons in January, 660,942 tons in February, 660,900 tons in March, 684,300 tons in April, 700,900 tons in May, 678,500 tons in June, 700,900 tons in July, 701,800 tons , 680,100 tons in September, 705,113 tons in October, 683,200 tons in November, 679,200 tons in... Read More

Oil output declined by 2,8 million tons

Oil output declined by 2,8 million tons Azerbaijan produced 39,4 million tons in the first ten months of 2012.  Compared to the same period last year, oil production declined by 2,8 million tons, according to CESD calculations Oil output was 3,4 million tons in November, 2012.  According to official forecast, 45,0 million tons oil will be produced in 2012. Azerbaijan’s oil production was 45,4 million tons in 2011 which was  5,434 million... Read More

SOCAR Oil Output Dropped by 2 %

SOCAR Oil Output Dropped by 2 % The State Oil Company of Azerbaijan produced 6,9 million tons of oil in January-October, 2012. The statement came from CESD sources at SOCAR. Oil output was 706,6 tons in January, 660,9 tons in February, 660,9 tons in March, 684,3 tons in April, 700,9 tons in May, 678,5 tons in June, 700,9 tons in July, 701,8 tons in August, 680,1 tons in September, 705,1 tons in October. SOCAR oil output has dropped by 2% over the... Read More

International Conference on NATO and Energy Security

International Conference on NATO and Energy Security Energy security is becoming a priority of NATO policy at the present stage, and Azerbaijan – one of the most important partners of the Alliance in this area. This is the keynote opened the international conference: “Energy security in the Caspian region and NATO’s role in the protection of critical energy infrastructure.” The event was organized by the Azerbaijan... Read More

$ 1 billion oil money for each month

$ 1 billion oil money for each month CESD: “SOFAZ is not adequately meeting its central objectives” Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2012 reached 10,1 billion mantas ($ 12, 9 billion US) , while budget expenditures constituted 7,5 billion Mantas  ($ 9,7 billion US.) Since $ 9,7 billion US spent in the last 9 months of 2012, it means that more than $ 1 billion US... Read More

SOCAR’s Ranking is Still “BBB-“

SOCAR’s Ranking is Still “BBB-“ Fitch Ratings has affirmed State Oil Company of the Azerbaijan Republic’s (SOCAR) Long-term foreign currency IDR at ‘BBB-‘ with a Stable Outlook. Short-term foreign currency IDR was affirmed at ‘F3’, the Agency said in its report. SOCAR is the only producer of oil products in the country (it has two refineries on its balance sheet) and also owns petrol stations in Azerbaijan, Georgia,... Read More

Refusing cooperation with BP meets neither economic nor other interests of Azerbaijan

Refusing cooperation with BP meets neither economic nor other interests of Azerbaijan “BP is the largest investor in Azerbaijan. It took an active part in the implementation of various development projects in the country. The largest share of the UK’s foreign investment in Azerbaijan is belong to BP”-said expert economist Vuqar Bayramov in answer to FaktXeber.com’s question:“Could BP refuse to continue working in Azerbaijan?” Mr. Bayramov... Read More

« Previous PageNext Page »