In January-November 2016, Azerbaijan produced 37 million 717.2 million tons of oil and condensate, which is 1.5% less than the same period last year. This was reported in the monthly report of the State Statistics Committee of Azerbaijan.
During the reporting period, Azerbaijan produced 37 million 670.4 thousand tons of commercial oil, which was also 1.5% less than in January-November 2015.
In November Azerbaijan produced 2 million 994.4 thousand tons of commercial oil. Compared to November 2015, the commercial oil volumes decreased by 290.9 thousand tons, or 8.85%. -12B-
Economics
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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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