From January to August 2015 State Oil Company of Azerbaijan extracted 5,539,300 tons of oil, down 1.4% against the same period in 2014.
According to SOCAR, in August 2015 the company extracted 699,200 tons of oil.
In 2014 total volume of oil production in Azerbaijan totaled 41.9 million tons, of which 8,402,500 tons was extracted by SOCAR.
It was earlier reported with reference to SOCAR Vice President for Production and Transportation Rakhman Gurbanov that in 2015 SOCAR is forecast to extract 8.3 million tons of oil.—0—
Economics
-
Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
-
Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
-
Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
-
Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
Leave a review