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

BP prepares plan for oil production from ACG for 2013

BP prepares plan for oil production from ACG for 2013 In continuation of discussions with the State Oil Company of Azerbaijan, BP completed the detailed review of productiveness of the ACG block of fields in Caspian Azeri sector.  The statement is contained in the press release of the BP company. “The aim of the review is the analysis of the plan of production supply for 2013 and revealing the ability to react to technical problems”, the message... Read More

CESD Chairman Had Speech at Qafqaz University

CESD Chairman Had Speech at Qafqaz University Vugar Bayramov, chairman of CESD, had speech on Management of Oil Revenues in Azerbaijan at Qafqaz University, the top university in Azerbaijan, on February 23, 2012. Vugar Bayramov mentioned that The high inflow of oil revenues to Azerbaijan in recent years has led to large and increases in government expenditures in the state budget and State Oil Fund of the Azerbaijan Republic. Given that oil revenues... Read More

Azerbaijan Economy in 2012; expectations and challenges

Azerbaijan Economy in 2012; expectations and challenges Official forecasts for Azerbaijani economy in 2012 seem quite optimistic. According to Ministry of Economic Development reports although downturn in world economy. The Government of Azerbaijan (GoA) targets 5,7 % GDP Growth in 2012 meanwhile The Central Bank’s monetary policy is announced keeping inflation to single digits. Meanwhile, International Monetary Fund (IMF) projected at 7,1 % Azerbaijan’s... Read More