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

Despite Market Woes, Oil Supply Cut Extension Still On The Table

Despite Market Woes, Oil Supply Cut Extension Still On The Table Vugar Bayramov: “The OPEC-led move to drain the oil glut in global markets failed to bring desired results” Oil producing countries, including those in the Caspian region, are still deliberating whether or not to extend a multilateral agreement reached last year that required cuts to production over the first six months of 2017. “Consensus is building, but it is not done yet. We... 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

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy The main goal of the study is to assess how oil price decline in the world market will potentially impact Azerbaijani Economy. The paper specifically looks how last changes in the world market will effect on both revenue and expenditure sides of the state budget. The study also examines “side impact” and “domino effects” of low oil prices. As an oil exporter country Azerbaijan... Read More

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

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

Macro-economic figures for the first quarter of 2014

Macro-economic figures for the first quarter of 2014 CESD- Center for Economic and Social Development concluded its macro-economic survey results for the first quarter of year on April 14, 2014. Although, the Government of Azerbaijan (GoA) managed to keep economic growth in the reporting period, but real GDP growth is 2 times lower than the 2014 target. State Statistics Committee reported 2.5 % GDP Growth for the first quarter of 2014. According... Read More

Declining Production hits BDJF

Declining Production hits BDJF DG World View cites CESD Reports on its April 2013 edition DG World View cites CESD Reports on its April 2013 edition.The World View described the oil industry in Azerbaijan based on CESD calculations in its news titled as “Declining Production hits BDJF”. Full report is available at; WorldView_April_11_2013  Read More

World Top Mass-Media Institutions Cite CESD Reports

World Top Mass-Media Institutions Cite CESD Reports Some leading world newspapers have recently distributed article on Azerbaijan economy which titled as “Loose fiscal policy could threaten Azeri economy” where roughly cited CESD reports.  The article addresses CESD reports and macro-economic calculations as the main alternative and independent source in the country. Azerbaijan economy was discussed in the report based on both State Statistic... Read More

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

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