According to the forecasts, in 2014 Azerbaijan will extract 43 million tons of oil, Azerbaijani Minister of Energy Natig Aliyev told journalists at the end of last week.
“Azerbaijan’s main goal is to maintain stable production of oil at 40-45 million tons and we have been working hard to achieve that,” Aliyev said.
Minister added that last year it was planned to extract over 41 million tons of oil, but actual volume exceeded 43 million tons of oil.
Last year the main volume of oil production fell to the Azeri-Chirag-Guneshli (ACG) bloc of oil and gas fields and Shah-Deniz gas condensate field, which are being developed jointly with the foreign partners.
Speaking about the gas production, Aliyev said that last year Azerbaijan extracted 29 billion cub.m. (tank gas – 17.9 billion cub.m.) and in the future it is planned to increase this volume.—0—
Economics
-
An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
-
On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
-
Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
-
Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
Leave a review