Azerbaijani oil output: In permanent decline?

Azerbaijani oil output: In permanent decline? The State Statistics Committee of Azerbaijan has reported that the country produced 12.6 million tons of oil in the first four months of 2017 that was by 9.5% less compared with the period of 2016. Oil stocks as of 1 May 2017 reached 414,700 tons against 629,300 tons by 1 April and 410,200 tons by 1 January 2017. In 2016 the country produced 41.03 million tons of oil that was less than production for 2015... Read More

Azerbaijani Oil Income in October 2016

Azerbaijani Oil Income in October 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that its oil export grew by 45.5% in October 2016 compared with previous month. The SOCAR reports that it exported 2.017 million tons of oil against 1.386 million tons in September, 1.53 million tons in August and 1.924 million tons in July (this year’s best indicator). At that, October’s oil export via Baku-Novorossiysk oil pipeline reached 80,192... Read More

Azerbaijani Oil Income in September 2016

Azerbaijani Oil Income in September 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that oil export fell by 9.4% in September 2016 compared with the previous month. The SOCAR reports that it exported 1.386 million tons of oil against 1.53 million tons in August and 1.924 million tons in July (this year’s best indicator). September’s oil export via Baku-Novorossiysk oil pipeline reached 169,279 tons (versus 169,702 tons in August... Read More

Azerbaijani oil export declined by 7 %

Azerbaijani oil export declined by 7 % Azerbaijani oil export decreased by 6.86% in June 2016 compared with previous month. According to the State Oil Company of Azerbaijan Republic (SOCAR) reports total export was 1.676 million tons of oil in June against 1.799 million tons in May. Meanwhile, Azerbaijani oil export was 1.449 million tons in April, and 1.9 million tons in March 2016. At that, June’s oil export via Baku-Novorossiysk oil pipeline... Read More

Azerbaijani Oil Income in May 2016

Azerbaijani Oil Income in May 2016 The State Oil Company of Azerbaijan Republic (SOCAR) reports that it exported 1.799 million tons of oil in May against 1.449 million tons in April and 1.9 million tons in March 2016. Oil export in May 2016 increased compared with April 2016, however, it decreased compared with March 2016. Azerbaijani oil export increased by 24.2% in May against April 2016 and decreased by 6.0 % compared with March 2016. Download... Read More

Azerbaijani Oil Export Declined by 23.7 % in April 2016

Azerbaijani Oil Export Declined by 23.7 % in April 2016 State Oil Company of Azerbaijan Republic (SOCAR) exported 159 599 tons of crude oil from Novorossiysk port, 176 598 tons from Supsa port, 1 112 953 tons from Ceyhan port in April 2016.Generally, 239 536 tons of crude oil was exported from Novorossiysk port, 776 198 tons from Supsa, 5 741 694 tons from Ceyhan port, 14 946 tons from Kulevi port in January-April 2016. Download Full Report Here  Read More

Azerbaijani Oil Fund`s 2016 Budget: The deficit is higher than the fund’s income

Azerbaijani Oil Fund`s 2016 Budget: The deficit is higher than the fund’s income The budget of the State Oil Fund (SOFAZ) for 2016 was amended on March 2016. According to the new amendment the SOFAZ budget deficit will exceed its revenues for the year. Under the new document, Fund’s revenues were reduced from 6.712 billion manat ($ 4.221 billion US) to 4.578 billion manat ($ 2.954 billion US), while expenditures increased from 8.18 billion manat... Read More

Azerbaijan’s foreign debt-to-GDP ratio became to double-digit number the first time in the last decade

Azerbaijan’s foreign debt-to-GDP ratio became to double-digit number the first time in the last decade Azerbaijan’s foreign public debt amounted to 7.05 billion manat which accounts for 12.4 percent of the country’s GDP, the Azerbaijani Ministry of Finance has reported. The message said that the statistics on the loans included direct obligations of the state and contingent liabilities on loans under state guarantee. Of the total volume... Read More

Azerbaijani Oil Income Declined by 22.0 % in October

Azerbaijani Oil Income Declined by 22.0 % in October % State Oil Company of Azerbaijan Republic (SOCAR) 1.779 million tons of oil in October against 2.175 million tons in September, 1.211 million tons in August, 1.448 million in July, 2.264 million tons in June (the best index for 2015), 1.69 million tons of oil in May and 2.121 million tons in January. In October the oil was not exported via Baku-Novorossiysk pipeline versus September’s export... Read More

Azerbaijani Oil Fund’s Revenue was Declined by 2.5 times

Azerbaijani Oil Fund’s Revenue was Declined by 2.5 times Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) reached 5 543.4 mln. manats ($ 5,279 billion US), while budget expenditures constituted 6 397.1 mln. manats ($ 6,093 billion US) in the first 9 months of 2015. Reminded here that Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-September, 2014 was 10 131.9 mln. manats... Read More

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