OPEC keeps Azerbaijan’s oil output forecast unchanged

OPEC keeps Azerbaijan’s oil output forecast unchanged OPEC kept its forecast on Azerbaijani oil production unchanged at 0.96 million barrels per day (bpd) for 2012 and 2013. “Azerbaijan oil production is predicted to remain steady in 2012 and average 0.96 million bpd, flat compared to the previous month,” OPEC’s September oil market report says. According to OPEC forecasts, the country’s oil production will amount... Read More

Azeri gas output to reach 40bn cubic meters by 2025

Azeri gas output to reach 40bn cubic meters by 2025 Gas production in Azerbaijan will reach 40 billion cubic meters (excluding injection) by 2025, according to forecasts, president of Azerbaijan’s state energy company, SOCAR, Rovnag Abdullayev, said on September 07, 2012. He noted that the figure will be 20 billion cubic meters by 2015. Abdullayev said $50 billion has been invested in the PSA contracts in Azerbaijan so far.  Read More