Azerbaijan Economy in 2012

Azerbaijan Economy in 2012 Azerbaijan oil production started to decline rapidly since 2010. In fact, dramatic fall in oil industry continues to hamper the country’s total growth in 2012.  It was the main reason that Government of Azerbaijan (GoA) has adjusted its previous official forecast of 5.7 %  GDP growth in 2012 to 2.5 % in the second half of 2012. Thanks to affected growth in non-oil sector, the country was able to keep growth track... Read More

Oil export via BTC pipeline down by 2.5m tonnes

Oil export via BTC pipeline down by 2.5m tonnes In 2012, the Baku-Tbilisi-Ceyhan pipeline exported 29.671m tonnes of oil.  According to SOCAR, compared with 2011, exports fell by 2.553m tonnes.  In January, exports amounted to 2.7m tonnes, in February -2.45m tonnes, in March – 2.7m tonnes, in April – 2.3m tonnes, in May – 2.801m tonnes, in June – 2.732m tonnes, in July – 2.12m tonnes, in August – 2.367m tonnes,... 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