World First Class TV Channel Referenced CESD Reports

World First Class TV Channel Referenced CESD Reports

CNBC, one of leading TV channels in the world, referenced CESD’s last report on October, 01, 2011. The title of the reportage was “Power Shift”.  CNBC stated that Oil production in the first half of this year fell to 23.8 million tonnes, a 5.6% drop compared with the same period in 2010. The output of natural gas, pending the opening up of the second phase of the huge reserves in the Shah Deniz field in the Caspian, is also down, by 2.1% this year to 12.9 billion cubic metres, according to the Center for Economic and Social Development (CESD) in Baku. While high oil prices have underpinned the revenue stream, the CESD estimates that the country’s income from hydrocarbons, which account for more than 55% of GDP, could peak in 2012 and that its reserves will start to decrease in 2013. By 2030, Azerbaijan could become a net importer of oil.

Full article is available at CNBC web-site; http://www.cnbcmagazine.com/story/power-shift/1466/1/

 

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