Sharp Decline in Azerbaijani Oil Income in January 2015

ShareSharp Decline in Azerbaijani Oil Income in January 2015 Azerbaijan exported 1 million 697 thousand 768 tones crude oil through Baku-Tbilisi-Ceyhan (BTC) pipeline in January, 2015: according to the CESD report based on State Oil Company of Azerbaijan Republic’s (SOCAR) official figures. Meanwhile, the country exported 169, 507 thousand tones crude oil through Baku Novorosiysk and 254, 107 thousand tones via Baku Supsa pipelines in the indicated... Read More

2015 Growth Forecast for Azerbaijan Adjusted

Share2015 Growth Forecast for Azerbaijan Adjusted The European Bank for Reconstruction & Development (EBRD) has announced Regional Economic Prospects 2015. The Bank has adjusted its official growth forecast from 3.0 % to 1.5 % in 2015. The Bank has reported that Azerbaijan has “suffered” because of its dependence on hydrocarbons whose prices have fallen. At that, the ERBD is confident in the country’s sustainability to external shocks... Read More

Assessment of Effect of Declining Oil Prices on Azerbaijan Economy

ShareAssessment 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... Read More

SOCAR reacts to falling energy prices by cutting oil export

ShareSOCAR reacts to falling energy prices by cutting oil export State Oil Company of Azerbaijan (SOCAR) reduced export of petroleum products in November 2014 by 41.5% compared to the previous month. According to the SOCAR, overall export of Azeri oil products totaled 77,851 tons in November versus 133,067 tons in October, 183,931 tons in September, 280,705 tons in July (the best level for 2014) and 21,983 tons in April (the worst monthly index). This... Read More

New decline in oil industry and Growth in non-oil sector in Azerbaijan

ShareNew decline in oil industry and Growth in non-oil sector in Azerbaijan The State Statistics Committee of Azerbaijan reported that oil and gas industry declined by 1.7% in last 10 months of 2014 compared to the same period in previous year. Monthly decline has been observed in 2014. The highest declined was registered in January, 2014: energy sector declined 5.2 % in the first month compared to the same month of 2013. Meanwhile non-oil industry... Read More

Decline in SOCAR oil production in 2012

ShareDecline in SOCAR oil production in 2012 The State Oil Company of Azerbaijan produced 8,241, million tons of oil in 2012. The statement came from sources in SOCAR.  Production made 706,638 tons in January, 660,942 tons in February, 660,900 tons in March, 684,300 tons in April, 700,900 tons in May, 678,500 tons in June, 700,900 tons in July, 701,800 tons , 680,100 tons in September, 705,113 tons in October, 683,200 tons in November, 679,200 tons... Read More

The National Interest Cites CESD Reports

ShareThe National Interest Cites CESD Reports The National Interest, a leading American international affairs magazine, cited CESD’s report, “Peak Oil: The End of the Oil Age in Azerbaijan,” in its January 18, 2012 article entitled “Tough Year Looms for Azerbaijan”: “The Center for Economic & Social Development, a think tank in Azerbaijan focused on the country’s sustainable economic development, stated in a November 2011 report... Read More

Oil output declined by 2,8 million tons

ShareOil output declined by 2,8 million tons Azerbaijan produced 39,4 million tons in the first ten months of 2012.  Compared to the same period last year, oil production declined by 2,8 million tons, according to CESD calculations Oil output was 3,4 million tons in November, 2012.  According to official forecast, 45,0 million tons oil will be produced in 2012. Azerbaijan’s oil production was 45,4 million tons in 2011 which was  5,434 million... Read More

Will Oil Output be increased next year?

ShareWill Oil Output be increased next year? Currently action program for 2013 on the Azeri-Chirag-Gunashli (ACG) is being revised.  The statement came from President of SOCAR Rovnag Abdullayev. According to him, oil production in 2013 will be higher than in 2012. He also said a new long-term program until 2020 would be prepared in order to provide for long-term stable production in the volume of 35 million tons of oil annually at the ACG. According... Read More

Oil Contributes 87,0 % of Total Export in Azerbaijan

ShareOil Contributes 87,0 % of Total Export in Azerbaijan The share of crude oil in Azerbaijan’s overall export made up 86.29% against 86.62% in 2011, 86.53% in 2010 and 81.57% in 2009. In the first quarter of 2012 oil export grew by 6.76% versus last year’s same term. The State Customs Committee (SCC) informs that for Jan-Apr 2012 the country’s oil export reached 12.086 million tons (5.989 million tons in April is still the best index of the... Read More

Next Page »