In quarter 1, 2013 Azerbaijan extracted 10.8 million tons of oil and condensate and 4.4 billion cub.m. of tank gas. According to the Azerbaijan State Statistical Committee, the oil production decline constituted 4.6%, while gas production decline - 4.8% against the same period last year.
According to the Committee, during this period the growth of industrial production in the non-oil sector constituted 2.9%, while decline in the oil industry is equal to 2.9%.
From January to March 2013 75% of the total volume of production fell to the extracting industry, 18.4% on the refining industry, 6.1% on the production and distribution of power, gas and steam and 0.5% - on the water supply, cleaning and refining of wasts.
Earlier the officials repeatedly said the oil production will be stabilized in Azerbaijan, but the figures show that the production decline, which started in quarter 3, 2010, continues.
* According to the government's forecast, in 2013 Azerbaijan plans to produce 43.2 million tons of oil and 17.5 billion cub.m. of tank gas.-0-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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