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

Significant Decline in Azeri Oil Export

ShareSignificant Decline in Azeri Oil Export SOCAR oil export dropped 11,4 % in the firth four months in 2012 The State Oil Company of Azerbaijan (SOCAR) exported 7,016,000 tonnes of oil via the Baku-Tbillisi-Ceyhan (BTC) pipeline in January-April 2012.  SOCAR reports that the export made 1,909,000 tonnes in January, 1,359,000 tonnes in February, 1,901,000 tonnes in March, 1,847,000 tonnes in April. Compared to the same period of the last year,... Read More

SOCAR Oil Export Declined by 7 % in the first quarter of 2012

ShareSOCAR Oil Export Declined by 7 % in the first quarter of 2012 The State Oil Company of Azerbaijan exported 5,2 million tonnes of oil via all routes including Baku-Novorossiysk, BTC and Baku-Supsa pipelines in the first quarter of 2012 which is 7,2  % lower than compare with the same period last year. SOCAR exported 5,6 million tonnes in the first three months of 2011 . Sources at the SOCAR mentioned that Baku-Novorossiysk exported 496,8 thousand... Read More