From January to June 2012 oil production in Azerbaijan totaled 22.2 million tons, down 7.1% against the same period in 2011, reported the Azerbaijan State Statistical Committee.
According to the Committee, during this period the country produced 23.88 million tons of oil. During this period in 2010 a total of 25.33 million tons of oil was produced in the country. The officials did not comment such a rapid decline of oil production.
Azerbaijan State Statistical Committee also said that during this period production in the oil industry dropped by 5.2%.
According to the Committee, during six months this year the country produced 8.8 billion cub.m. of natural tank gas (during the same period last year production of natural gas totaled 12.9 billion cub.m.).
From January to June 2012 volume of industrial production totaled 17.5 billion AZN, down 3% against the same period in 2011. 77.1% of industrial production fell to the production industry and 17.6% to the refining industry.—0---
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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